NVR said net income for Q2 2024 was $400.9 million ($120.69 per diluted share), a 1% decrease from $404.0 million in Q2 2023, while diluted earnings per share rose 4%. It said consolidated revenues increased 12% to $2.61 billion.

1. 01

   NVR said net income for Q2 2024 was $400.9 million ($120.69 per diluted share), a 1% decrease from $404.0 million in Q2 2023, while diluted earnings per share rose 4%. It said consolidated revenues increased 12% to $2.61 billion.

2. 02

   The company said new orders for Q2 2024 rose 3% to 6,067 units, and settlements rose 11% to 5,659 units. Backlog as of June 30, 2024 was 11,597 units, up 3%, and $5.45 billion, up 6%.

3. 03

   The company said homebuilding gross profit margin for Q2 2024 was 23.6%, down from 24.3% in Q2 2023. Mortgage banking pre-tax income was $45.0 million, up 23% from $36.5 million in Q2 2023, which it attributed to higher secondary marketing gains on loan sales.

4. 04

   The company said its effective tax rate for Q2 2024 was 24.9%, higher than 14.3% in Q2 2023, citing excess tax benefits from stock option exercises that were smaller at $6.8 million than $55.9 million. It repurchased 83,168 shares for $638,976 in Q2.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

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

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