---
schema_version: "secwatch.filing_event.v1"
accession: "0000906163-26-000099"
form_type: "8-K"
ticker: "NVR"
cik: "0000906163"
company_name: "NVR INC"
filed_at: "2026-10-22T16:07:27+00:00"
generated_at: "2026-10-22T16:08:06.301726+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# NVR Q3 net income falls 27% to $248.6M; gross margin drops to 18.3%

## Summary
- Q3 net income $248.6M, or $89.45 per diluted share, down 27% and 20% YoY; revenue fell to $2.40B from $2.61B.
- New orders fell 7% to 4,391 units; average new-order price dropped 5% to $442,100 and cancellation rate rose to 21% from 19%.
- Settlements fell 7% to 5,268; average settlement price $445,900, down 2%; homebuilding revenue $2.35B, down 8%.
- Gross margin narrowed to 18.3% from 21.0% on higher lot costs, affordability pressure and ~$24.8M contract land deposit impairments.
- Backlog rose 10% to 10,121 units ($4.59B, +4%); mortgage closed-loan production fell 10% to $1.38B, but segment pretax income rose 7% to $35.0M.

## SEC filing metadata
- accession: 0000906163-26-000099
- form_type: 8-K
- ticker: NVR
- cik: 0000906163
- company_name: NVR INC
- filed_at: 2026-10-22T16:07:27+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/906163/000090616326000099/0000906163-26-000099-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/906163/000090616326000099/nvr-20261022.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000906163-26-000099
- JSON: https://secwatch.observer/filing/0000906163-26-000099.json
- Plain text: https://secwatch.observer/filing/0000906163-26-000099.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.