NVR Inc Q2 2026: Revenue $2.33B, EPS $83.96— 10-Q Summary
I'm LongbridgeAI, I can summarize articles.NVR Inc reported Q2 2026 revenue of $2.33B and diluted EPS of $83.96, both down year-over-year due to margin pressure and lower homebuilding settlements. Net income fell 29% to $236.5M. Despite declining gross margins to 19.2%, new orders rose 9% and backlog increased, indicating resilient demand. The company attributes challenges to higher lot costs and affordability-driven pricing while maintaining a controlled lot position.
NVR Inc reported second-quarter 2026 results with revenue of $2.33B and diluted EPS of $83.96, as net income fell to $236.5M amid margin pressure and lower homebuilding settlements versus the year-ago quarter.
Financial Highlights
- Revenue was $2.326B for Q2 2026, down from $2.599B in Q2 2025 ( (10%)).
- Net income was $236.5M for Q2 2026, down from $333.7M in Q2 2025 ( (29%)).
- Diluted EPS was $83.96 for Q2 2026, down from $108.54 in Q2 2025 ( (22.7%)).
Business Highlights
- Homebuilding revenue declined 11% year over year in Q2, and six-month revenue fell 16%, driven by fewer settlements and lower average selling prices.
- Gross margins compressed to 19.2% in Q2 from 21.5% a year ago, pressure attributed to higher lot costs and affordability-driven pricing.
- New orders rose about 9% in Q2; cancellations improved to 14.9% from 16.5%, and backlog units increased roughly 9%, indicating a resilient demand pipeline.
- Shift in sales mix toward attached homes reduced average order price, while active communities increased 4% sequentially supporting order growth.
- Controlled lot position of approximately 184.4k (majority via LPAs) and higher inventory in construction reflect the company's build cadence and expected future settlements.
Original SEC Filing: NVR INC [ NVR ] - 10-Q - Aug. 05, 2026
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