NVR Posts $248.6M Third-Quarter Net Income
NVR is trading near its 52-week low of $5,501.01 (7.3% above the low).
Summary
NVR reported third-quarter net income of $248.6 million, per Dow Jones, down 27% as revenue declined, with revenue of $2.35 billion and earnings per share of $89.45. That follows a rough second quarter, when net income fell 29% on compressed margins and lower revenue even as new orders rose 9% and the company bought back nearly $1 billion of stock. The headline gives only the bottom line, so the key unknowns are margins, order growth and whether buybacks kept shrinking the share count. Watch the full release for revenue, gross margin and new-order trends to see if the Q2 margin pressure persisted.
At the time of this announcement, NVR was trading at $5,900.00 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $15.7B. The 52-week trading range was $5,501.01 to $8,200.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.