NVR Q4 EPS Tops by 15.8% While Homebuilding Revenue Falls 5.2%
NVR posted Q4 earnings per share of $121.54, beating estimates by 15.8% but down 13% year over year on homebuilding revenue that topped consensus at $2.635 billion yet fell 5.2%. Backlog units slid 15.1% to 8,448 homes and consensus estimates have been revised down 22.9% since release.
1. Q4 Earnings Performance
NVR delivered fourth-quarter earnings per share of $121.54, surpassing the consensus estimate of $104.96 by 15.8%. Consolidated revenues reached $2.713 billion, with homebuilding revenues of $2.635 billion exceeding the $2.375 billion estimate but down 5.2% year over year.
2. Homebuilding and Mortgage Banking Details
Settlements declined 8.3% to 5,668 units while average selling price rose 3.3% to $464,900. Backlog fell 15.1% to 8,448 homes ($4.01 billion). Mortgage banking fees grew 19.3% to $77.4 million on $1.51 billion of closed loan production, down 11%.
3. Estimate Revisions and Outlook
Consensus estimates for earnings have dropped 22.9% since the release, reflecting cautious analyst revisions. With a moderate value-growth-momentum score and a hold rating, the stock has underperformed, losing 2.5% since its last report and awaiting next catalysts.