NVR Q3 Profit Increases

(RTTNews) - NVR Inc. (NVR) reported net income for its third quarter ended September 30, 2017 of $162.10 million or $38.02 per share up from $117.39 million or $28.46 per share last year.

Consolidated revenues for the third quarter of 2017 totaled $1.67 billion, an 8% increase from $1.54 billion in the third quarter of 2016.

Analysts polled by Thomson Reuters expected the company to report earnings of $36.26 per share and revenues of $1.71 billion. Analysts' estimates typically exclude special items.

New orders in the third quarter of 2017 increased 21% to 4,200 units, when compared to 3,477 units in the third quarter of 2016. The average sales price of new orders in the third quarter of 2017 was $382,800, a decrease of 3% when compared with the third quarter of 2016. The decrease in the average sales price of new orders is primarily attributable to a shift in new orders to lower priced markets and lower priced products.

Homebuilding revenues in the third quarter of 2017 totaled $1.63 billion, 8% higher than the year earlier period.