NVR (NVR) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and NVR published the results on October 22, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• NVR prints its statements in thousands of dollars. Revenue on this page is homebuilding revenues plus mortgage banking fees, converted to millions.
• Gross profit margin included contract land deposit impairments of about $24.8 million in the quarter.

Source: NVR Q3 2026 earnings release, October 22, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How NVR splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• NVR's Homebuilding revenues revenue was $2.3 billion in Q3 2026, down 8% from $2.6 billion in Q3 2025, 98% of total revenue.
• NVR's Mortgage banking fees revenue was $53.1 million in Q3 2026, up 8% from $49.2 million in Q3 2025, 2% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP figures, each as first reported in that quarter's release. Revenue is homebuilding revenues plus mortgage banking fees.

NVR's next report is expected around January 27, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 22, 2026

NVR has two segments, homebuilding and mortgage banking, and homebuilding is nearly all of the revenue. Homebuilding revenues were $2.35 billion in Q3 2026, down 8% from $2.56 billion, and consolidated revenues were $2.40 billion against $2.61 billion. The homes are sold under the Ryan Homes, NVHomes and Heartland Homes names in thirty-seven metropolitan areas in sixteen states and Washington, D.C. (NVR Q3 2026 earnings release, Oct 22, 2026)

NVR's homebuilding revenue is settlements times price. Settlements fell 7% to 5,268 units from 5,639, and the average settlement price fell 2% to $445,900. NVR's 10-Q attributes the lower settlement count mainly to a lower backlog turnover rate, due in part to operational challenges including labor capacity issues, elevated cancellation rates and mortgage qualification challenges. (NVR Q3 2026 earnings release, Oct 22, 2026; NVR Form 10-Q, Q3 2026, Nov 4, 2026)

Demand weakened in the quarter. New orders fell 7% to 4,391 units, the average sales price of new orders fell 5% to $442,100, and the cancellation rate rose to 21% from 19%. NVR says the lower new order price came from pricing pressure and a mix shift from single family detached homes to single family attached homes, which generally sell at lower prices. (NVR Q3 2026 earnings release, Oct 22, 2026; NVR Form 10-Q, Q3 2026, Nov 4, 2026)

NVR does not develop most of its land. It typically buys finished building lots from third-party developers under fixed price lot purchase agreements, with deposits that typically range up to 10% of the purchase price, and its loss for walking away from an agreement is limited to the deposit. At September 30, 2026 it controlled approximately 176,000 lots under these agreements, through deposits in cash and letters of credit totaling approximately $1,026.4 million and $9.9 million. (NVR Form 10-K, 2025, Feb 11, 2026; NVR Form 10-Q, Q3 2026, Nov 4, 2026)

NVR's mortgage banking fees, earned by NVR Mortgage Finance, which serves only NVR's own homebuyers, were $53.1 million, up from $49.2 million. Loan closings fell 10% to $1.38 billion, while adjustable rate mortgages rose to 22% of loan volume from 7%. (NVR Q3 2026 earnings release, Oct 22, 2026; NVR Form 10-Q, Q3 2026, Nov 4, 2026)

NVR reports one EPS figure, on a GAAP basis. Diluted EPS of $89.45 in Q3 2026 was down 20% from $112.33, a smaller decline than the 27% fall in net income to $248.6 million because the share count fell. Diluted weighted average shares were 2,779 thousand against 3,051 thousand a year earlier, and NVR repurchased 37,088 shares in the quarter for $237.2 million. (NVR Q3 2026 earnings release, Oct 22, 2026)

NVR's gross profit margin fell to 18.3% from 21.0%. The release attributes this to higher lot costs, pricing pressure from affordability challenges and weak consumer sentiment, and contract land deposit impairments of approximately $24.8 million. Homebuilding income before tax fell 27% to $299.7 million, while mortgage banking income before tax rose 7% to $35.0 million. (NVR Q3 2026 earnings release, Oct 22, 2026)

NVR's effective tax rate rose to 25.7% from 22.8%. The 10-Q links the rate mainly to excess tax benefits from stock option exercises, which were $1.5 million in Q3 2026 against $13.4 million in Q3 2025. (NVR Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

NVR does not publish a revenue or earnings outlook in its earnings release. Its 10-Q says demand for new homes weakened further in the quarter, hurt by affordability issues, rising mortgage interest rates, increasing home inventory in certain markets and weak consumer sentiment, and that NVR expects further margin pressure from higher land prices. (NVR Q3 2026 earnings release, Oct 22, 2026; NVR Form 10-Q, Q3 2026, Nov 4, 2026)

NVR's backlog is the nearest thing to a forward figure in its release. Homes sold but not settled at September 30, 2026 were 10,121 units, up 10%, with a value of $4.59 billion, up 4%, so the average backlog price fell to $453.0 thousand from $479.5 thousand. (NVR Q3 2026 earnings release, Oct 22, 2026)

A consensus figure is the average of the models published by the analysts who cover NVR, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones NVR's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning NVR is on is NVR a buy or a sell?, what analysts expect next is on the NVR forecast, and what the company does is on the NVR (NVR) stock page.

Every number on this page can be traced to a document NVR published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.