NVR (NYSE:NVR), the Reston, Virginia-based homebuilder, posted fourth-quarter net income of $363.8 million, or $121.54 per share, significantly outperforming Wall Street’s cautious outlook.
Analysts surveyed by Zacks Investment Research had anticipated earnings of $104.96 per share, as the industry grappled with elevated mortgage rates and affordability challenges.
Revenue for the quarter reached $2.64 billion, surpassing the $2.35 billion consensus estimate.
The company’s performance highlights its resilience in a volatile housing market, ending the fiscal year with a total profit of $1.34 billion, or $436.55 per share.
Full-year revenue stood at $10.09 billion, reflecting steady delivery volumes across its Ryan Homes, NVHomes, and Heartland Homes brands.
While the sector has faced margin pressure from rising material costs, NVR’s asset-light lot-option strategy continues to provide a buffer against the cyclicality that has hampered traditional builders.