NVR reports Q3 2026 net income down 27% as revenue and homebuilding margin fall
NVR Inc. posted third‑quarter 2026 net income of $248.6 million, a 27% year‑over‑year decline. Consolidated revenue fell 8% to $2.40 billion, with homebuilding revenue down to $2.35 billion. Gross profit margin slipped to 18.3% from 21.0% a year earlier. New home orders dropped 7% to 4,391 units and the cancellation rate rose to 21%, while mortgage‑banking income rose 7% to $35 million.
Why it matters
The revenue miss and margin compression signal weaker demand and higher costs, which could pressure future earnings (the company noted higher lot costs and affordability challenges). Analysts expect revenue to grow about 4.6% over the next 12 months, indicating the market is looking for a turnaround.
Key facts
- 1Net income for Q3 2026 was $248.6 million, down 27% YoY. prnewswire.com
- 2Consolidated revenue for Q3 2026 was $2.40 billion, an 8% decline YoY. prnewswire.com
- 3Homebuilding revenue for Q3 2026 was $2.35 billion, down 8% YoY. prnewswire.com
- 4Gross profit margin for Q3 2026 fell to 18.3% from 21.0% in Q3 2025. prnewswire.com
- 5New home orders in Q3 2026 decreased 7% to 4,391 units. prnewswire.com
- 6Cancellation rate in Q3 2026 was 21%, up from 19% a year earlier. prnewswire.com
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.