correction: corrects last year revenue figures in the fourth para.
Home builder and mortgage lender NVR, Inc. (NVR) Monday reported third-quarter earnings which increased, as growth in homebuilding revenues more than offset a drop in mortgage banking fees.
For the 3-month period, net earnings increased to $90.15 million or $20.70 per share, from $82.93 million or $17.67 per share a year earlier.
Analysts polled by Thomson-Reuters had a consensus earnings estimate of $20.48. Analysts' estimates typically exclude one-time items.
Revenues edged up to $1.2 billion, from $1.19 billion last year. Analysts expected revenues of $1.25 billion.
New orders rose 23 percent to 2,936 units from 2,381 units a year earlier.
As of September 30, backlog of homes sold but not settled increased 10 percent in units and 14 percent in dollars, the company said.
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