AI English summary of an SEC filing — figures as filed
NVR NVRNVR said consolidated revenues for Q1 2024 totaled $2,333,463 (in thousands), up 7% from the prior-year period. It said net income was $394,269 (in thousands), or $116.41 per diluted share. Net income and diluted earnings per share rose 14% and 17%, respectively.
Key points
AI summaryNVR said consolidated revenues for Q1 2024 totaled $2,333,463 (in thousands), up 7% from the prior-year period. It said net income was $394,269 (in thousands), or $116.41 per diluted share. Net income and diluted earnings per share rose 14% and 17%, respectively.
The company said its homebuilding gross profit margin percentage for Q1 2024 decreased slightly to 24.5% from 24.6% in the prior-year period. It cited a 10% increase in units settled and a 2% decrease in the average settlement price as factors behind the 7% increase in homebuilding revenues.
The company said net new orders rose 3% in Q1 2024, and the average price of new orders rose 3% to $454.3 (in thousands). Backlog as of March 31, 2024 was 11,189 homes, or $5,218,598 (in thousands), up 7% in units and 9% in dollars.
NVR said cash and cash equivalents were approximately $2,900,000 (in thousands) as of March 31, 2024. It said it repurchased 66,858 shares during the quarter for $496,936 (in thousands). Net cash provided by operating activities for the same quarter was $146,458 (in thousands).
Key figures
Quarter ended March 31, 2024
- Revenue
- $2.3B
- Net income
- $394M
- EPS
- $116.41
- Operating cash flow
- $146M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Q1 2024 Revenue and Net Income
NVR said consolidated revenues for Q1 2024 totaled $2,333,463 (in thousands), up 7% from the prior-year period. It said net income was $394,269 (in thousands), or $116.41 per diluted share. Net income and diluted earnings per share rose 14% and 17%, respectively.
Source · Based on the MD&A text of the filing
Homebuilding Gross Margin and Deliveries
The company said its homebuilding gross profit margin percentage for Q1 2024 decreased slightly to 24.5% from 24.6% in the prior-year period. It cited a 10% increase in units settled and a 2% decrease in the average settlement price as factors behind the 7% increase in homebuilding revenues.
Source · Based on the MD&A text of the filing
New Orders and Backlog
The company said net new orders rose 3% in Q1 2024, and the average price of new orders rose 3% to $454.3 (in thousands). Backlog as of March 31, 2024 was 11,189 homes, or $5,218,598 (in thousands), up 7% in units and 9% in dollars.
Source · Based on the MD&A text of the filing
Cash Flow and Share Repurchases
NVR said cash and cash equivalents were approximately $2,900,000 (in thousands) as of March 31, 2024. It said it repurchased 66,858 shares during the quarter for $496,936 (in thousands). Net cash provided by operating activities for the same quarter was $146,458 (in thousands).
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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