NVR · 10-Q · 2026Q2 · Full report
Revenue Performance and Mix
NVR INC · 2026-08-05 · Importance 48 · Surprise 40 · No source text
Consolidated revenue declined 10% year over year to $2,326,356 thousand in the second quarter of 2026, while six-month revenue declined 16% to $4,898,712 thousand. Homebuilding revenue fell 11% in the second quarter and 16% in the first six months, driven by settlement-unit declines of 8% and 14%, respectively, and lower average settlement prices. New orders increased 9% in the second quarter and 8% in the first six months, but average new-order prices decreased 5% and 3%, respectively, due to pricing pressure and a shift from detached homes toward lower-priced attached homes. The June 30, 2026 backlog increased 9% to 10,998 units and 5% to $4,992,229 thousand, although average backlog price decreased 4% to $453.9 thousand.
Key facts
- Our backlog as of June 30, 2026 increased on a unit basis by 9% to 10,998 units and on a dollar basis by 5% to $4,992,229 compared to 10,069 units and $4,753,905 as of June 30, 2025. source
- Homebuilding consolidated income before taxes for the three months ended June 30, 2026 was $293,230 compared to $417,517 for the three months ended June 30, 2025. source
- Consolidated revenues for the second quarter of 2026 totaled $2,326,356, a decrease of 10% from the second quarter of 2025. source
- Homebuilding revenues decreased 11% in the second quarter of 2026 compared to the same period in 2025 due to an 8% decrease in units settled and a 3% decrease in average price of units settled. source
- Homebuilding revenues decreased 16% in the first six months of 2026 compared to the same period in 2025 due to a 14% decrease in units settled and a 2% decrease in average settlement price year over year. source
- Settlements units for the three months ended June 30, 2026 were 5,058 with average settlement price $450.7; for the three months ended June 30, 2025 settlements were 5,475 with average settlement price $465.4. source
- Net income for the second quarter of 2026 decreased 29% and diluted earnings per share decreased 23% compared to the second quarter of 2025. source
- Backlog units as of June 30, 2026 were 10,998 with average backlog price $453.9 compared to June 30, 2025 backlog units 10,069 with average backlog price $472.1. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | probable | +107.3% | Our backlog as of June 30, 2026 increased on a unit basis by 9% to 10,998 units and on a dollar basis by 5% to $4,992,229 compared to… |
| revenue | negative | realized | -11.1% | Consolidated revenues for the second quarter of 2026 totaled $2,326,356, a decrease of 10% from the second quarter of 2025. |
| operating_income | negative | realized | -5.3% | Homebuilding consolidated income before taxes for the three months ended June 30, 2026 was $293,230 compared to $417,517 for the three… |
| revenue | negative | realized | — | Homebuilding revenues decreased 16% in the first six months of 2026 compared to the same period in 2025 due to a 14% decrease in units… |
| net_income | negative | realized | — | Net income for the second quarter of 2026 decreased 29% and diluted earnings per share decreased 23% compared to the second quarter of 2025. |