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NVR logs 27% YOY rise in Q3 earnings per share

NVR Inc. reported third-quarter net income of $195.8 million, or $48.28 per share, a 27.0% rise on a per-share basis from $162.1 million, or $38.02 per share, in the 2017 third quarter.

Net income jumped 21% from the figure logged in the prior-year term.

The S&P Global Market Intelligence consensus EPS estimate for the third quarter was $50.94.

The homebuilder recorded a 2% increase and a 2% decrease in the number of new orders and the average sales price of new orders in the reporting quarter, respectively. The new orders amounted to 4,302 units, compared to 4,200 units in the year-ago three-month term, while average sales price was $374,000.

For the quarter, homebuilding revenue rose 10.7% in the aggregate year over year to $1.81 billion from $1.63 billion. Consolidated revenues reached $1.85 billion, an increase of 11.1% year over year from $1.67 billion.

During the nine-month period ended Sept. 30, net income grew 37% year over year to $565.0 million, while EPS rose to $136.53 from $98.33.