NVR Q3 Earnings Rise - Quick Facts

(RTTNews) - Home builder and mortgage lender NVR, Inc. (NVR) Monday reported third-quarter earnings which increased, as growth in homebuilding revenues more than offset a drop in mortgage banking fees.

For the 3-month period, net earnings increased to $90.15 million or $20.70 per share, from $82.93 million or $17.67 per share a year earlier.

Analysts polled by Thomson-Reuters had a consensus earnings estimate of $20.48. Analysts' estimates typically exclude one-time items.

Revenues edged up to $1.2 billion, from $1.89 billion last year. Analysts expected revenues of $1.25 billion.

New orders rose 23 percent to 2,936 units from 2,381 units a year earlier.

As of September 30, backlog of homes sold but not settled increased 10 percent in units and 14 percent in dollars, the company said.