NVR INC — Form 8-K
Filed July 23, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 62/100
What the filing says
NVR reported Q2 2026 net income of $236.5M ($83.96 diluted EPS), down 29% from Q2 2025's $333.7M ($108.54 EPS). Consolidated Q2 revenue fell 10% to $2.33B from $2.60B; six-month revenue declined 16% to $4.21B from $5.00B. Homebuilding gross margin compressed 230 basis points to 19.2% due to higher lot costs, pricing pressure, affordability headwinds, and $21.7M land deposit impairments; homebuilding income fell 30%. Mortgage banking income declined 14% to $25.4M on 13% lower loan production ($1.35B).
Why this rating
Material earnings decline (29% YoY) on margin compression and volume pressure; ~$1.2B six-month revenue shortfall vs prior year, significant relative to $20.3B market cap; however, backlog improved 9% units and 5% dollars, offsetting immediate concern.
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