US Market News
2月前
NVR, INC. ANNOUNCES FIRST QUARTER RESULTSApril 22, 2026 9:00 AM
PR Newswire (US)
RESTON, Va., April 22, 2026 /PRNewswire/ -- NVR, Inc. (NYSE: NVR), one of the nation's largest homebuilding and mortgage banking companies, announced net income for its first quarter ended March 31, 2026 of $198.4 million, or $67.76 per diluted share. Net income and diluted earnings per share for the first quarter ended March 31, 2026 decreased 34% and 29%, respectively, when compared to 2025 first quarter net income of $299.6 million, or $94.83 per diluted share. Consolidated revenues for the first quarter of 2026 totaled $1.88 billion, which decreased 22% from $2.40 billion in the first quarter of 2025. HomebuildingNew orders in the first quarter of 2026 increased by 7% to 5,738 units, when compared to 5,345 units in the first quarter of 2025. The average sales price of new orders in the first quarter of 2026 was $440,100, a decrease of 2% when compared with the first quarter of 2025. The cancellation rate in the first quarter of 2026 was 14% compared to 16% in the first quarter of 2025. Settlements in the first quarter of 2026 decreased by 22% to 4,015 units, compared to 5,133 units in the first quarter of 2025. The decrease in settlements was primarily attributable to a 15% lower backlog balance of homes sold but not settled entering the first quarter of 2026 compared to the same period in 2025. The average settlement price in the first quarter of 2026 was $457,000, which remained relatively flat when compared to the first quarter of 2025. As of March 31, 2026 our backlog of homes totaled 10,171 units, which was flat compared to March 31, 2025, while the dollar value of backlog declined 3% to $4.70 billion.Homebuilding revenues of $1.83 billion in the first quarter of 2026 decreased by 22% compared to homebuilding revenues of $2.35 billion in the first quarter of 2025. Gross profit margin in the first quarter of 2026 decreased to 19.6%, compared to 21.9% in the first quarter of 2025. Gross profit margin was negatively impacted by continued pricing pressure and higher lot costs. Income before tax from the homebuilding segment totaled $224.6 million in the first quarter of 2026, a decrease of 39% when compared to the first quarter of 2025.Mortgage BankingMortgage closed loan production in the first quarter of 2026 totaled $1.05 billion, a decrease of 27% when compared to the first quarter of 2025. Income before tax from the mortgage banking segment totaled $27.1 million in the first quarter of 2026, a decrease of 17% when compared to $32.5 million in the first quarter of 2025. Effective Tax RateOur effective tax rate for the three months ended March 31, 2026 was 21.2% compared to 25.5% for the three months ended March 31, 2025. The decrease in the effective tax rate in the first quarter of 2026 was primarily attributable to a higher income tax benefit recognized for excess tax benefits from stock option exercises, which totaled $12.6 million and $2.7 million for the three months ended March 31, 2026 and March 31, 2025, respectively.About NVRNVR, Inc. operates in two business segments: homebuilding and mortgage banking. The homebuilding segment sells and builds homes under the Ryan Homes, NVHomes and Heartland Homes trade names, and operates in thirty-seven metropolitan areas in sixteen states and Washington, D.C. For more information about NVR, Inc. and its brands, see www.nvrinc.com, www.ryanhomes.com, www.nvhomes.com and www.heartlandluxuryhomes.com.Some of the statements in this release made by the Company constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain, but not necessarily all, of such forward-looking statements can be identified by the use of forward-looking terminology, such as "believes," "expects," "may," "will," "should," "could," or "anticipates" or the negative thereof or other comparable terminology. All statements other than of historical facts are forward-looking statements. Forward-looking statements contained in this document may include those regarding market trends, NVR's financial position and financial results, business strategy, the outcome of pending litigation, investigations or similar contingencies, and projected plans and objectives of management for future operations. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance of NVR to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements. Such risk factors include, but are not limited to the following: general economic and business conditions (on both a national and regional level); interest rate changes; access to suitable financing by NVR and NVR's customers; increased regulation in the mortgage banking industry; the ability of our mortgage banking subsidiary to sell loans it originates into the secondary market; competition; the availability and cost of land and other raw materials used by NVR in its homebuilding operations; shortages of labor; the economic impact of a major epidemic or pandemic; weather related slow-downs; building moratoriums; governmental regulation; fluctuation and volatility of stock and other financial markets; mortgage financing availability; and other factors over which NVR has little or no control. NVR undertakes no obligation to update such forward-looking statements except as required by law.NVR, Inc.Consolidated Statements of Income(in thousands, except per share data)(unaudited)
Three Months Ended March 31,
2026
2025
Homebuilding:
Revenues
1,834,879
$ 2,350,445
Other income
28,049
26,712
Cost of sales
(1,474,539)
(1,835,375)
Selling, general and administrative
(156,971)
(165,117)
Interest expense
(6,854)
(7,181)
Homebuilding income
224,564
369,484
Mortgage Banking:
Mortgage banking fees
46,184
52,587
Interest income
3,629
3,806
Other income
777
1,093
General and administrative
(23,127)
(24,693)
Interest expense
(333)
(273)
Mortgage banking income
27,130
32,520
Income before taxes
251,694
402,004
Income tax expense
(53,335)
(102,428)
Net income
$ 198,359
$ 299,576
Basic earnings per share
$ 71.33
$ 100.41
Diluted earnings per share
$ 67.76
$ 94.83
Basic weighted average shares outstanding
2,781
2,984
Diluted weighted average shares outstanding
2,928
3,159
NVR, Inc.Consolidated Balance Sheets(in thousands, except share and per share data)(unaudited)
March 31, 2026
December 31, 2025ASSETS
Homebuilding:
Cash and cash equivalents
$ 1,645,786
$ 1,883,844Restricted cash
40,606
34,348Receivables
35,423
32,742Inventory:
Lots and housing units, covered under sales agreements with customers
1,652,220
1,410,695Unsold lots and housing units
244,499
252,029Land under development
19,433
39,312Building materials and other
22,358
21,524
1,938,510
1,723,560
Contract land deposits, net
938,981
851,458Property, plant and equipment, net
100,899
103,770Operating lease right-of-use assets
108,985
110,535Other assets
335,331
349,306
5,144,521
5,089,563Mortgage Banking:
Cash and cash equivalents
36,281
32,642Restricted cash
7,014
6,047Mortgage loans held for sale, net
287,475
571,596Property and equipment, net
7,892
7,727Operating lease right-of-use assets
23,035
23,953Other assets
79,560
125,402
441,257
767,367Total assets
$ 5,585,778
$ 5,856,930
NVR, Inc.Consolidated Balance Sheets (Continued)(in thousands, except share and per share data)(unaudited)
March 31, 2026
December 31, 2025LIABILITIES AND SHAREHOLDERS' EQUITY
Homebuilding:
Accounts payable
$ 332,321
$ 259,244Accrued expenses and other liabilities
374,987
376,976Customer deposits
273,422
249,210Operating lease liabilities
116,040
117,589Senior notes
908,662
909,160
2,005,432
1,912,179Mortgage Banking:
Accounts payable and other liabilities
61,162
53,738Operating lease liabilities
25,150
26,144
86,312
79,882Total liabilities
2,091,744
1,992,061
Commitments and contingencies
Shareholders' equity:
Common stock, $0.01 par value; 60,000,000 shares authorized; 20,555,330 shares issued as of both March 31, 2026 and December 31, 2025
206
206Additional paid-in capital
3,202,642
3,155,367Deferred compensation trust – 106,697 shares of NVR, Inc. common stock as of both March 31, 2026 and December 31, 2025
(16,710)
(16,710)Deferred compensation liability
16,710
16,710Retained earnings
16,585,128
16,386,769Less treasury stock at cost – 17,823,503 and 17,755,943 shares as of March 31, 2026 and December 31, 2025, respectively
(16,293,942)
(15,677,473)Total shareholders' equity
3,494,034
3,864,869Total liabilities and shareholders' equity
$ 5,585,778
$ 5,856,930
NVR, Inc.Operating Activity(dollars in thousands)(unaudited)
Three Months Ended March 31,
2026
2025
Units
Average
Price
Units
Average
Price
New orders, net of cancellations:
Mid Atlantic (1)
1,917
$ 499.3
1,866
$ 514.5
North East (2)
469
$ 612.0
377
$ 695.0
Mid East (3)
1,183
$ 425.3
1,098
$ 419.9
South East (4)
2,169
$ 358.8
2,004
$ 356.3
Total
5,738
$ 440.1
5,345
$ 448.5
Three Months Ended March 31,
2026
2025
Units
Average
Price
Units
Average
Price
Settlements:
Mid Atlantic (1)
1,418
$ 520.4
2,050
$ 527.9
North East (2)
366
$ 657.1
471
$ 613.2
Mid East (3)
722
$ 430.0
1,013
$ 407.1
South East (4)
1,509
$ 361.7
1,599
$ 354.6
Total
4,015
$ 457.0
5,133
$ 457.9
As of March 31,
2026
2025
Units
Average
Price
Units
Average
Price
Backlog:
Mid Atlantic (1)
3,659
$ 515.7
3,884
$ 535.7
North East (2)
1,076
$ 625.6
961
$ 694.4
Mid East (3)
2,094
$ 431.4
2,130
$ 422.6
South East (4)
3,342
$ 369.6
3,190
$ 372.9
Total
10,171
$ 462.0
10,165
$ 475.9
NVR, Inc.Operating Activity (Continued)(dollars in thousands)(unaudited)
Three Months Ended March 31,
2026
2025
Average active communities:
Mid Atlantic (1)
124
120
North East (2)
31
24
Mid East (3)
99
93
South East (4)
178
164
Total
432
401
Three Months Ended March 31,
2026
2025
Homebuilding data:
New order cancellation rate
14 %
16 %
Lots controlled at end of period
181,700
167,600
Mortgage banking data:
Loan closings
$ 1,052,984
$ 1,432,922
Capture rate
83 %
86 %
Common stock information:
Shares outstanding at end of period
2,731,827
2,944,615
Number of shares repurchased
90,180
77,120
Aggregate cost of shares repurchased
$ 631,956
$ 583,394
(1)Maryland, Virginia, West Virginia, Delaware and Washington, D.C.(2)New Jersey and Eastern Pennsylvania(3)New York, Ohio, Western Pennsylvania, Indiana and Illinois(4)North Carolina, South Carolina, Tennessee, Florida, Georgia and Kentucky
View original content:https://www.prnewswire.com/news-releases/nvr-inc-announces-first-quarter-results-302749387.htmlSOURCE NVR, INC.
Original: NVR, INC. ANNOUNCES FIRST QUARTER RESULTS
ProfitScout
1年前
Note the mention of $NVR in this news that just came out ...
$IVDN News: Innovative Designs, Inc. Welcomes Experienced Real Estate Developer With Relations to Top Homebuilding Names Including D.R. Horton, NVR / Ryan Homes and More
PITTSBURGH, PA - January 23, 2025 (NEWMEDIAWIRE) - Innovative Designs, Inc. (OTC Pink: IVDN) is very pleased to announce a new addition to the Company's Board of Directors, Mr. John Spagnolo Jr., an accomplished real estate investor and developer. For over 20 years Mr. Spagnolo, Jr. has been successful in building high end homes, residential and commercial properties and other development projects. Most notably, over the course of his career, Mr. Spagnolo, Jr., has nurtured relationships with key contacts at some of the most important companies in the multi-billion-dollar homebuilding and construction industry. These include D.R. Horton, NVR [Ryan Homes], Maronda Homes, Rockford Homes, Fischer Homes, Infinity Custom Homes and more.
Mr. Spagnolo Jr. is the owner of Sandy Hill Excavation and Development, offering excavation and site development for production builders, in addition to general contracting and project management for commercial and residential projects, as well as land acquisition for residential and commercial real estate developments in the Pittsburgh, Columbus and Nashville markets.
Among his many capabilities and responsibilities, Mr. Spagnolo, Jr. has directly managed vital functions including site construction, banking relationships, completing bids for construction projects, negotiating of buydown schedule and prices with builders, permits & approvals, completion of budgets & proformas, new home construction, residential remodeling and commercial construction. He has also purchased commercial strip centers, mobile home parks, purchased, rehabbed, and resold over thirty residential homes, purchased over 60 units of student housing and also 5 supermarkets.
Regarding his new role on the Innovative Designs Board of Directors, John Spagnolo Jr. stated: "I am strongly enthusiastic about the sales growth potential of the unique Insultex House Wrap® product in the building and remodeling environment that we see before us today. This is the primary reason I have accepted the offer to join the Innovative Designs team at this time. With its patented evacuated cell design, Insultex House Wrap® is catching on at the go-to solution for all the most important standards of thermal insulation that builders and remodelers must now meet to stay competitive and in compliance with new government building codes. In 2025 and beyond, I believe we can introduce the unmatched advantages of Insultex House Wrap® to building professionals on every level of the industry and I expect that they will want to use this superior insulation solution in significantly increasing quantities."
Joseph A. Riccelli, CEO of Innovative Designs added, "Welcoming John Spagnolo Jr. to the Innovative Designs Board of Directors is an exceptionally positive new development for our company and we are already working well together. With his extensive knowledge and experience in the building industry as well as his valuable contacts with some of the largest and most important building companies including D.R. Horton and NVR, I am greatly looking forward to all that John can bring to the Innovative Designs marketing program."
Mr. Riccelli continued, "As promised in my letter to IVDN shareholders in December, we are making every effort to keep investors well updated on our progress this year. We are presently completing our year-end 10K financial report and plans for our upcoming on-line, interactive shareholder meeting. We recently hired a new PCAOB auditing firm that has already exceeded our expectations, and we are collaborating closely with them to keep up with timely financial reporting. We look forward to updating you on all of our progress and sales growth again soon."
Innovative Designs sales for the current 2025 1st quarter, which is still in progress, show a comp increase in excess of 7 times sales in the 1st quarter of 2024. In addition, over a quarter of a million dollars in purchase orders are in the queue to be filled.
About Innovative Designs, Inc.
Innovative Designs, Inc. manufactures the Insultex® House Wrap and Arctic Armor® Line, under the "i.d.i.gear" label featuring INSULTEX®. Patented INSULTEX® is the thinnest, lightest and warmest insulator in the market today. For more information, please visit: http://www.insultexhousewrap.com and http://www.idigear.com
Disclaimer
Certain statements in this press release constitute "forward-looking" statements as defined by federal law. Such statements are based on assumptions, but there is no assurance that actual outcomes will not be materially different as those implied. Any such statements are made in reliance on the "Safe Harbor" protections provided under the Private Securities Reform Act of 1995 and are subject to various factors, including the risks and matters discussed in the Company's SEC filings available at http://www.sec.gov.
CONTACT:
Innovative Designs, Inc.
Joseph A. Riccelli, CEO
412-799-0350
riccellijjr@insultexhousewrap.com
http://www.insultexhousewrap.com
View the original release on www.newmediawire.com