NVR INC is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: NVR reported a significant revenue decline of 21.7% YoY to $1.88B in Q1 2026, with net income falling 33.8% to $198.4M, though operating cash flow surged 63.5% to $339.7M as the company continued aggressive share buybacks of $632M.
Drawn from management commentary in the Q1 2026 10-Q:
Total revenue fell 21.7% YoY from $2.40B to $1.88B in Q1 2026, reflecting a challenging homebuilding environment with reduced closings compared to the prior year period. This top-line contraction is the most significant financial development of the quarter.
Net income declined 33.8% YoY to $198.4M, with net margin contracting to approximately 10.5% from an implied ~12.5% in Q1 2025. The earnings decline outpaced the revenue decline, indicating cost pressures or unfavorable mix shifts impacting profitability.
Despite weaker earnings, operating cash flow surged 63.5% YoY to $339.7M (vs. $207.8M in Q1 2025), suggesting improved working capital management, potentially from reduced land and inventory investment in a slower demand environment.
Revenue
$1.88B
-21.72% YoY
EPS (Basic)
$71.33
-28.96% YoY
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