NVR Inc. Earnings: Profit Rises Behind Revenue Boost
NVR Inc. (AMEX:NVR) reported higher profit for the third quarter as revenue showed growth. NVR is engaged in the construction and sale of single-family detached homes, townhomes, and condominium buildings.
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NVR Inc. Earnings Cheat Sheet
Results: Net income for NVR Inc. rose to $53 million ($10.33 per share) vs. $43.4 million ($7.98 per share) in the same quarter a year earlier. This marks a rise of 22.1% from the year-earlier quarter.
Revenue: Rose 22.6% to $854.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: NVR Inc. fell short of the mean analyst estimate of $10.67 per share. It beat the average revenue estimate of $829.8 million.
The company has now seen its net income rise for three quarters in a row. In the second quarter, net income rose 21.8% and in the first quarter, the figure rose 32.6%.
The company fell short of estimates last quarter after beating the mark the quarter before with net income of $8.97 versus a mean estimate of net income of $8.75 per share.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from $10.97 a share to $10.64 over the last ninety days. The average estimate for the fiscal year is now $34.04 per share, down from $34.53 sixty days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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