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Visual24 Oct 2025
The rise of Alphabet
NVR (NVR) investor relations material
NVR Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary23 Jul, 2025
Executive summary
Q2 2025 net income was $333.7M, down 17% year-over-year, with diluted EPS at $108.54, a 10% decrease.
Consolidated revenues for Q2 2025 were $2.60B, nearly flat compared to Q2 2024.
New orders declined 11% and cancellation rates rose to 16.5%–17% in Q2 2025, with average sales prices flat.
Six-month net income dropped 20% to $633.3M, while revenues rose 1% to $5.00B year-over-year.
The company maintains a conservative lot acquisition strategy and strong balance sheet to navigate volatility.
Financial highlights
Q2 2025 homebuilding revenues were $2.55B, flat year-over-year; gross profit margin declined to 21.5% from 23.6%.
Diluted EPS for Q2 2025 was $108.54, down from $120.69 in Q2 2024.
Operating cash flow for the first half was $242.9M, with $1.83B in cash and equivalents at period end.
Q2 2025 mortgage closed loan production increased 2% to $1.56B; mortgage banking income before tax dropped 33%–34%.
Effective tax rate for Q2 2025 was 25.4%, up from 24.9% in Q2 2024.
Outlook and guidance
Management expects continued margin pressure and demand challenges due to affordability and economic volatility.
The company believes its strong balance sheet and disciplined lot strategy position it to capitalize on future opportunities.
Explain the factors impacting gross profit margin.
How did excess tax benefits affect tax rate?
Discuss trends in new orders by region.
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Next NVR earnings date
Q3 20256 Nov, 2025
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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.
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