NVR Earnings: Poor Home Sales Taking a Toll

NVR, Inc. (AMEX:NVR) saw profit fall amid falling revenue. NVR Inc. is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings.

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NVR Earnings Cheat Sheet for the First Quarter

Results: Net income for NVR, Inc. fell to $15.2 million ($2.52/share) vs. $32.1 million ($5.01/share) a year earlier. A decline of 52.7% from the year earlier quarter.

Revenue: Fell 13% to $514.5 million YoY.

Actual vs. Wall St. Expectations: NVR fell short of the mean analyst estimate of $4.63/share. Estimates ranged from $3.69 per share to $5.79 per share.

Key Stats:

The company has now seen net income fall in each of the last four quarters. In the fourth quarter of the last fiscal year, net income fell 3.2% while the figure fell 39.1% in the third quarter of the last fiscal year and 72.1% three quarters ago.

Over the last five quarters, revenue has increased 8.1% on average year over year. The biggest increase came in the second quarter of the last fiscal year, when revenue rose 57.5% from the year earlier quarter.

Competitors to Watch: DR Horton Inc. (NYSE:DHI), Toll Brothers Inc (NYSE:TOL), M.D.C. Holdings Inc (NYSE:MDC), PulteGroup, Inc. (NYSE:PHM), Ryland Group Inc. (NYSE:RYL), KB Home (NYSE:KBH), and Hovnanian Enterprises, Inc. (NYSE:HOV).

Today’s Performance: Shares of NVR are trading, down 6.25% from the previous closing price of $773.31.

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