NVR reports Q2 2026 net income of $236.5 million as new home orders rise 9%
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- NVR (NYSE:NVR) reported second-quarter 2026 net income of $236.5 million, or $83.96 per diluted share, representing a 29 percent year-over-year decline.
- Consolidated revenues for the quarter were $2.33 billion, down from $2.60 billion in the second quarter of 2025.
- Despite lower settlements, new home orders rose 9 percent to 5,885 units, pushing the backlog value up 5 percent to $4.99 billion.
NVR (NYSE:NVR) reported its second-quarter 2026 financial results, generating $2.33 billion in consolidated revenues, a decline from the $2.60 billion reported in the same period last year.
Net income for the quarter fell 29 percent year over year to $236.5 million, or $83.96 per diluted share, compared to the second quarter of 2025.
For the first half of 2026, NVR experienced broader top- and bottom-line contraction, with revenues falling 16 percent to $4.21 billion.
Six-month net income declined 31 percent to $434.8 million, while diluted EPS decreased 26 percent to $151.38.
Following the release of these quarterly results, the NVR share price traded near $6,176.
In the company's core homebuilding segment, second-quarter revenues declined 11 percent to $2.28 billion.
Gross margin narrowed to 19.2 percent from 21.5 percent a year earlier.
Management noted that profitability was impacted by higher lot costs, pricing pressure related to housing affordability, and approximately $21.7 million in contract land deposit impairments.
While home settlements fell 8 percent during the quarter, new orders presented a bright spot, rising 9 percent to 5,885 units.
The cancellation rate was 15 percent.
This order growth helped push the company's backlog up 9 percent in units (10,998) and 5 percent in dollar value to $4.99 billion.
The mortgage banking segment also faced headwinds, with closed loan production declining 13 percent year over year to $1.35 billion.
As a result, segment pre-tax income fell 14 percent to $25.4 million for the quarter.
