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NVR, INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR RESULTS
NVRNVR(US:NVR) Prnewswire·2025-01-28 14:00

Financial Performance - NVR, Inc. reported a net income of $457.4 million for Q4 2024, a 12% increase from $410.1 million in Q4 2023, with diluted earnings per share rising 15% to $139.93 [1][2] - Consolidated revenues for Q4 2024 reached $2.85 billion, up 17% from $2.43 billion in Q4 2023 [1] - For the full year 2024, consolidated revenues were $10.52 billion, an 11% increase from $9.52 billion in 2023, with net income rising 6% to $1.68 billion [2] Homebuilding Segment - New orders in Q4 2024 decreased by 8% to 4,794 units compared to 5,190 units in Q4 2023, while the average sales price of new orders increased by 4% to $469,000 [3][4] - Settlements in Q4 2024 increased by 16% to 6,180 units, with an average settlement price of $450,000, remaining relatively flat compared to Q4 2023 [3][4] - Homebuilding revenues for Q4 2024 were $2.78 billion, a 16% increase from $2.39 billion in Q4 2023, although the gross profit margin decreased to 23.6% from 24.1% [4][5] Mortgage Banking Segment - Mortgage closed loan production in Q4 2024 totaled $1.70 billion, a 13% increase from Q4 2023, with income before tax from this segment rising 55% to $45.9 million [6] - For the year ended December 31, 2024, mortgage closed loan production increased by 9% to $6.26 billion, with income before tax rising 17% to $154.9 million [7] Tax Rate - The effective tax rate for Q4 2024 was 20.1%, up from 15.3% in Q4 2023, while the annual effective tax rate for 2024 was 20.5%, compared to 17.5% in 2023 [8]