NVR Inc. Earnings: Snaps Cold Streak with Profit Growth

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NVR Inc. (AMEX:NVR) reported its results for the first quarter. NVR is engaged in the construction and sale of single-family detached homes, townhomes, and condominium buildings.

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NVR Earnings Cheat Sheet for the First Quarter

Results: Net income for NVR Inc. rose to $20.1 million ($3.90 per share) vs. $15.2 million ($2.52 per share) in the same quarter a year earlier. This marks a rise of 32.6% from the year-earlier quarter.

Revenue: Rose 16.7% to $600.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: NVR Inc. fell short of the mean analyst estimate of $4.18 per share. Analysts were expecting revenue of $599.7 million.

Key Stats:

Last quarter’s profit increase ends a four-quarter streak of year-over-year profit drops. In the fourth quarter of the last fiscal year, net income fell 44.8% from the year earlier, while the figure fell 1.2% in the third quarter of the last fiscal year, 46.1% in the second quarter of the last fiscal year and 52.7% in the first quarter of the last fiscal year.

For two quarters in a row, the company has come in under analyst estimates. In the fourth quarter of the last fiscal year, it missed expectations by $3.84 with net income of $6.32 versus a mean estimate of net income of $10.16 per share.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from $9.60 a share to $8.66 over the last ninety days. At $34.11 per share, the average estimate for the fiscal year has fallen from $36.51 ninety days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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