NVR Q2 net income down 29% to $236.5M; EPS $83.96 vs $108.54 YoY

NVR INC

Net income $236.5M ($83.96 diluted EPS) vs $333.7M ($108.54) in Q2 2025, decreases of 29% and 23%.
Consolidated revenues $2.33B, down 10% from $2.60B; homebuilding revenues $2.28B, down 11%.
New orders up 9% to 5,885 units; avg sales price down 5% to $437,100; settlements down 8% to 5,058 units.
Homebuilding gross margin fell to 19.2% from 21.5%, hit by higher lot costs, pricing pressure, and $21.7M land deposit impairments.
Mortgage banking income before tax $25.4M, down 14%; closed loan production $1.35B, down 13%.

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