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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
NVR
NVR (NVR) investor relations material
NVR Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary22 Oct, 2026
Executive summary
Q3 2026 revenue was $2,402,430 thousand, down 8% YoY; net income was $248,605 thousand and diluted EPS was $89.45, down 27% and 20%, respectively.
9M revenue declined 13% to $6,609,849 thousand; net income fell 30% to $683,422 thousand and diluted EPS fell 24% to $240.54.
Financial highlights
Q3 homebuilding revenue was $2,349,284 thousand vs. $2,560,343 thousand YoY; pretax income declined 27% to $299.7 million.
Q3 mortgage banking income was $34,972 thousand vs. $32,719 thousand; 9M mortgage banking income was $87,513 thousand vs. $94,855 thousand.
9M operating cash flow was $412,096 thousand vs. $681,592 thousand; cash, restricted cash and equivalents fell $787,350 thousand to $1,169,531 thousand.
Homebuilding SG&A declined 5% YoY in Q3; 9M SG&A fell $14,300 thousand but rose to 6.8% of revenue from 6.1%.
Outlook and guidance
Weaker demand and home-price pressure may persist; higher land prices and community repositioning are expected to add margin pressure.
Substantially all September 30 backlog, excluding cancellations, is expected to settle within 12 months; no full-year earnings guidance was stated.
Cash, operating cash generation and available credit facilities are expected to cover operating needs and contractual commitments.
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Latest events from NVR
- Q2 2026 saw lower earnings and revenue, but new orders and backlog rose amid margin pressures.NVR
Q2 2026 - Net income and revenue dropped sharply, but new orders rose despite margin pressure.NVRQ1 2026
- Proxy seeks votes on directors, auditor, say-on-pay, and two shareholder proposals opposed by the Board.NVRProxy Filing
- Annual meeting covers director elections, auditor ratification, and key shareholder proposals.NVRProxy Filing
- Earnings and revenues fell as margins compressed, but mortgage banking income rose in Q4.NVRQ4 2025
- Board recommends against lowering the special meeting threshold; strong governance and ESG focus.NVRProxy Filing
- Director elections, auditor ratification, and executive pay up for vote; board opposes special meeting rights.NVRProxy Filing
- Q3 2025 net income fell 20% on lower revenue and margins, with new orders down 16%.NVRQ3 2025
- Q2 2025 net income dropped 17% as margins and new orders declined amid affordability pressures.NVRQ2 2025
Next NVR earnings date
Q4 202628 Jan, 2027
NVR
Next NVR earnings date
Q4 202628 Jan, 2027
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Frequently asked questions
NVR Inc is a homebuilding and mortgage banking company that constructs and sells single-family detached homes, townhomes, and condominium buildings. The company operates under multiple brand names and primarily serves customers in the eastern United States. It also offers mortgage-related services through its wholly owned subsidiary. NVR Inc is headquartered in Reston, Virginia, and its shares are listed on the NYSE.