A month has gone by since the last earnings report for NVR (NVR) . Shares have lost about 6.7% in that time frame, underperforming the S&P 500.But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is NVR due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.NVR Q3 Earnings & Homebuilding Revenues ...

Core Insights - PulteGroup Inc. reported better-than-expected third-quarter 2025 results, with adjusted earnings of $2.96 per share and total revenues of $4.4 billion, surpassing estimates but showing a year-over-year decline [1][4][8] - The company's performance was negatively impacted by a soft housing market, characterized by weaker consumer confidence and affordability challenges [2][3] - Despite optimism regarding lowered interest rates, buyer demand remains below normal levels, prompting the company to leverage its diversified business platform to navigate macro challenges [3] Financial Performance - Adjusted earnings of $2.96 per share exceeded the Zacks Consensus Estimate of $2.86 by 3.5%, but decreased from $3.35 in the prior year [4][8] - Total revenues of $4.4 billion surpassed expectations by 2.3% but declined 1.6% from $4.48 billion year-over-year [4][8] - Homebuilding revenues fell 1.4% year-over-year to $4.3 billion, while home sale revenues decreased 2.2% to $4.25 billion [5][8] Segment Analysis - Homebuilding segment revenues decreased 1.4% year-over-year, while land sale and other revenues increased significantly by 175.7% to $53.2 million [5] - The number of homes closed dropped 5% to 7,529 units, with an average selling price (ASP) of $564,000, up 2.9% year-over-year [6] - Financial Services segment revenues fell 9.3% year-over-year to $103.3 million, with pretax income declining from $55 million to $44 million [8] Backlog and Orders - At the end of Q3, PulteGroup's backlog was 9,888 units, down 18.2% year-over-year, with potential housing revenues from the backlog decreasing 19% to $6.23 billion [7] - Net new home orders declined 5.6% year-over-year to 6,638 units, with the value of these orders falling 7.4% to $3.64 billion [6][8] Cash and Share Repurchase - As of the end of Q3, the company had cash and cash equivalents of $1.48 billion, down from $1.65 billion at the end of 2024 [10] - In the first nine months of 2025, PulteGroup repurchased 8.2 million common shares for $900 million at an average price of $109.81 per share [11]

Core Viewpoint - D.R. Horton reported better-than-expected Q3 fiscal 2025 results, with earnings and revenues exceeding estimates but showing a year-over-year decline [2][6][7]. Earnings, Revenue & Margin Discussion - Adjusted earnings were $3.36 per share, surpassing the Zacks Consensus Estimate of $2.90 by 15.9%, but down 18% from $4.10 a year ago [6]. - Total revenues reached $9.23 billion, a 7% decrease year-over-year, yet exceeding analysts' expectations of $8.78 billion by 5.1% [7]. - The consolidated pre-tax profit margin was 14.7%, down from 18.1% a year ago [7]. Segment Details - Homebuilding revenues were $8.58 billion, down 7% year-over-year, with home sales totaling $8.56 billion, reflecting a 7.3% decline [8]. - Home closings decreased by 4% year-over-year to 23,160 homes [8]. - Financial Services revenues fell 6% to $227.8 million, while Forestar contributed $390.5 million, up from $318.4 million a year ago [10]. Balance Sheet Details - Cash, cash equivalents, and restricted cash totaled $2.66 billion as of June 30, 2025, down from $4.54 billion at the end of fiscal 2024 [12]. - Total liquidity stood at $5.5 billion, with $2.9 billion available on the revolving credit facility [12]. - Debt totaled $7.2 billion, with a debt-to-total capital ratio of 23.2% [14]. Fiscal 2025 Guidance Updated - The company expects consolidated revenues between $33.7 billion and $34.2 billion, down from the previous range of $33.3 billion to $34.8 billion, compared to $36.8 billion in fiscal 2024 [15]. - Homes closed are anticipated to be between 85,000 and 85,500, slightly reduced from the previous estimate of 85,000 to 87,000 [15]. Outlook - Estimates for the stock have trended downward, indicating a potential in-line return in the coming months [19].