NVR Q2 Result Smashes Estimates

by Shivani Kumaresan, Benzinga Staff Writer

July 21, 2021 11:30 AM | 1 min read | Make a Comment

NVR Inc NVR reported second-quarter FY21 revenue growth of 41% year-on-year to $2.28 billion, beating the analyst consensus of $2.19 billion.
New orders for homebuilding fell 6% Y/Y to 5,521 units.
Mortgage closed loan production rose 37% Y/Y.
Homebuilding revenues increased by 40%, and gross profit margin increased to 22.6%.
The new order cancellation rate stood at 8.3%, versus 15.7% in the last quarter.
A 17.6% operating margin with $391 million in operating income was recorded in the quarter.
EPS of $82.45 beat the analyst consensus of $72.53.
The company held cash and cash equivalents, including restricted cash, $2.6 billion for homebuilding as of June 30, 2021.
Price action: NVR shares are trading lower by 0.05% at $4897.62 on the last check Wednesday.

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