- NVR Inc NVR reported second-quarter FY21 revenue growth of 41% year-on-year to $2.28 billion, beating the analyst consensus of $2.19 billion.
- New orders for homebuilding fell 6% Y/Y to 5,521 units.
- Mortgage closed loan production rose 37% Y/Y.
- Homebuilding revenues increased by 40%, and gross profit margin increased to 22.6%.
- The new order cancellation rate stood at 8.3%, versus 15.7% in the last quarter.
- A 17.6% operating margin with $391 million in operating income was recorded in the quarter.
- EPS of $82.45 beat the analyst consensus of $72.53.
- The company held cash and cash equivalents, including restricted cash, $2.6 billion for homebuilding as of June 30, 2021.
- Price action: NVR shares are trading lower by 0.05% at $4897.62 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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