NVR Q3 FY2026: Revenue Down 8.0%, EPS $89.45 Misses Consensus
NVR missed on both lines: revenue fell 8.0% to $2.40 billion and diluted EPS of $89.45 landed 14.4% below the $104.54 consensus, with homebuilding gross margin down to 18.3%. The story now rests on a $4.59 billion backlog rather than current sales, which shrank. Read the scorecard for the mechanics, then the risks: orders, cancellations and a 37.7% inventory build.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $89.45 was 14.4% below the $104.54 consensus and 20% below last year's $112.33. Repurchases of $237.2 million cut diluted shares to 2,779 thousand from 3,051 thousand, which softened but could not offset the profit decline. Net income of $248.6 million was down 27% year over year.
Revenue of $2.40 billion fell 8.0% from $2.61 billion a year ago, split between $2.35 billion of homebuilding and $53.1 million of mortgage banking. Settlements dropped 7% to 5,268 units and the average settlement price slipped 2% to $445,900, so volume and price both worked against the top line. New orders fell 7% to 4,391 units at an average price of $442,100, down 5%.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-05
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