NYSE$NVR

NVR Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Net income decreased due to the impact of the COVID-19 pandemic.

NVR, Inc. reported a decrease in net income and diluted earnings per share for the first quarter of 2020, with consolidated revenues also decreasing compared to the first quarter of 2019. The company experienced a decrease in homebuilding new orders and settlements, while the backlog remained flat. The mortgage banking segment also saw a decrease in income before tax.

  • Net income for Q1 2020 was $175.7 million, a 7% decrease compared to Q1 2019.
  • Diluted earnings per share for Q1 2020 was $44.96, a 6% decrease compared to Q1 2019.
  • Consolidated revenues for Q1 2020 totaled $1.58 billion, a 6% decrease compared to Q1 2019.
  • Homebuilding new orders decreased by 2% to 5,015 units, and settlements decreased by 6% to 4,230 units.

Headline financials

Total Revenue

$1.58B

Previous: $1.69B-6.2%
EPS (adj)

$44.96

Previous: $47.64-5.6%
Avg. Sales Price of Orders

$372K

No prior period
Order Cancellation Rate

20.8%

Previous: 14.1%+47.5%
Loan Closings

$1.13B

Previous: $1.14B-0.8%
Capture Rate

91.0%

Previous: 88.0%+3.4%
Capital Expenditures

-$3.51M

Previous: -$5.29M+33.6%
Free Cash Flow

$172M

Previous: $183M-6.0%
Net Income

$176M

Previous: $188M-6.7%
Operating Income

$1.57B

Previous: $1.68B-6.3%
Gross Profit

$1.58B

Previous: $1.69B-6.2%
Cash & Equivalents

$1.12B

Previous: $841M+33.0%
Total Assets

$3.89B

Previous: $3.36B+15.6%
Stock-Based Comp

$7.49M

Previous: $19.3M-61.2%

Revenue & EPS history

NVR · Revenue · Quarterly

$1.58B

Q1 2020-6.2%vs Q1 2019
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

NVR · $26.8M total across 1 segment · Q1 2020

  • Mortgage Banking
    $26.8M

Forward guidance

NVR is unable to predict the extent to which COVID-19 will impact its operational and financial performance. There is uncertainty regarding the effects of economic relief efforts on the U.S. economy, unemployment, consumer confidence, demand for our homes and the mortgage market, including lending standards and secondary mortgage markets.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+0.8%

Avg return

Earnings day

+0.3%

Avg return

5 days after

+0.7%

Avg return

30 days after

46%

32 / 69 earnings

Positive

+11.9%

Q4 2016

Best reaction

-8.8%

Q2 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.5%-6.5%-13.1%
Q4 2025+1.6%+2.9%+0.2%
Q3 2025-1.3%-4.5%-5.2%
Q2 2025-1.2%-0.6%+1.4%
Q1 2025+1.1%+0.9%+1.2%
Q4 2024-3.8%-4.4%-14.3%
Q3 2024-2.5%-3.4%-7.3%
Q2 2024-2.7%-0.5%+4.0%
Q1 2024-0.1%-2.0%-5.3%
Q4 2023-0.4%+3.0%+7.3%
Q3 2023-2.3%-2.2%+13.0%
Q2 2023+2.4%+1.8%-2.6%
Q1 2023-4.8%-2.1%-5.6%
Q4 2022+6.7%+5.2%+3.9%
Q3 2022+3.4%+5.6%+11.2%
Q2 2022-2.1%-1.6%-2.2%
Q1 2022+0.2%+0.5%-0.1%
Q4 2021+3.1%-1.0%-7.5%
Q3 2021-3.5%-3.6%+3.3%
Q2 2021+2.3%+2.7%+5.3%
Q1 2021-1.6%+0.5%-5.1%
Q4 2020-2.0%-0.6%-0.8%
Q3 2020-0.2%-1.1%-0.8%
Q2 2020+10.5%+16.0%+25.2%
Q1 2020-0.0%+11.1%+10.1%
Q4 2019-1.2%-3.3%-5.1%
Q3 2019+1.1%-0.1%-4.9%
Q2 2019-0.3%-3.6%-0.2%
Q1 2019+4.2%+1.0%+5.3%
Q4 2018+1.6%+5.1%+6.3%
Q3 2018-3.6%-3.4%+6.7%
Q2 2018-8.8%-12.1%-17.2%
Q1 2018+0.6%+0.9%-2.5%
Q4 2017-8.4%-10.6%-16.4%
Q3 2017+11.1%+10.5%+12.4%
Q2 2017+8.9%+9.5%+9.7%
Q1 2017-3.0%-3.5%+7.8%
Q4 2016+11.9%+10.4%+13.4%
Q3 2016-2.4%-3.8%-1.3%
Q2 2016-1.3%-1.7%-4.0%
Q1 2016-2.9%
Q4 2015+3.9%
Q3 2015+4.7%
Q2 2015+3.8%
Q1 2015+2.1%
Q4 2014-3.0%
Q3 2014+7.5%
Q2 2014+7.8%
Q1 2014-6.4%
Q4 2013+10.3%
Q3 2013-2.4%
Q2 2013-0.3%
Q1 2013-0.3%
Q4 2012+5.4%
Q3 2012+3.3%
Q2 2012+5.0%
Q1 2012+1.6%
Q4 2011-1.7%
Q3 2011-1.1%
Q2 2011-5.2%
Q1 2010-0.1%
Q1 2011-1.0%
Q4 2008+1.9%
Q4 2010+1.9%
Q3 2009+2.9%
Q3 2010+2.9%
Q2 2009-0.5%
Q2 2010-0.5%
Q4 2009-0.5%

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