Q2 26 EPS
$83.96
MISS 6.69%
Est. $89.98
Q2 26 Revenue
$2.33B
MISS 1.38%
Est. $2.36B
Market Reaction
Did NVR Beat Earnings? Q2 2026 Results
NVR Inc. Delivered a disappointing second quarter in 2026, missing Wall Street expectations on both the top and bottom lines as affordability pressures and weak consumer sentiment weighed heavily on results. The homebuilder posted diluted EPS of $83.… Read more NVR Inc. Delivered a disappointing second quarter in 2026, missing Wall Street expectations on both the top and bottom lines as affordability pressures and weak consumer sentiment weighed heavily on results. The homebuilder posted diluted EPS of $83.96, falling short of the $89.98 consensus estimate by 6.69%, while revenue of $2.33 billion trailed forecasts by 1.38% and declined 10.5% from the year-ago period. The most material drag came from the homebuilding segment, where gross profit margin compressed to 19.2% from 21.5% a year prior, reflecting higher lot costs, pricing concessions, and roughly $21.70 million in contract land deposit impairments. Net income tumbled 29% to $236.46 million as settlements fell 8% to 5,058 units at a 3% lower average price. A brighter note emerged in order activity, with new unit orders rising 9% to 5,885 and backlog growing 9% on a unit basis to 10,998 homes, pointing to potential stabilization ahead. NVR also repurchased 54,716 shares at a cost of $357.78 million during the quarter, helping cushion the per-share earnings decline.
Key Takeaways
- • Higher lot costs compressed gross margins
- • Pricing pressure from affordability challenges and weak consumer sentiment
- • Contract land deposit impairments of approximately $21.7 million
- • New orders increased 9% to 5,885 units despite lower average prices
- • Settlements decreased 8% to 5,058 units
- • Average settlement price decreased 3% to $450,700
- • Cancellation rate improved to 14.9% from 16.5%
NVR YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
NVR Revenue by Segment
With YoY comparisons, source: SEC Filings
NVR Earnings Trends
NVR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NVR EPS Trend
Earnings per share: estimate vs actual
NVR Revenue Trend
Quarterly revenue: estimate vs actual
NVR Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $89.98 | $83.96 | -6.69% | $2.33B | -1.38% |
| Q1 26 MISS | $79.20 | $67.76 | -14.44% | $1.88B | -6.94% |
| Q4 25 BEAT FY | $105.90 | $121.54 | +14.76% | $2.71B | +12.38% |
| FY Full Year | $421.88 | $436.55 | +3.48% | $10.32B | +4.56% |
| Q3 25 BEAT | $109.36 | $112.33 | +2.72% | $2.61B | +7.36% |
| Q2 25 BEAT | $107.52 | $108.54 | +0.95% | $2.60B | +4.81% |
| Q1 25 MISS | $106.07 | $94.83 | -10.60% | $2.40B | +2.47% |