NVR, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
January 25, 2017 at 09:00 am
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NVR, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. The company reported net income for its fourth quarter ended December 31, 2016 of $150,891,000, or $37.80 per diluted share compared to $134,004,000, or $31.92 per diluted share a year ago. Net income and diluted earnings per share for the fourth quarter ended December 31, 2016 increased 13% and 18%, respectively, when compared to the 2015 fourth quarter. Consolidated revenues for the fourth quarter of 2016 totaled $1,752,766,000, a 13% increase from $1,555,275,000 for the comparable 2015 quarter. Income before taxes was $228,662,000 compared to $207,169,000 a year ago.
For the year ended December 31, 2016, consolidated revenues were $5,822,544,000, 13% higher than the $5,159,008,000 reported for 2015. Net income was $425,262,000, an increase of 11% when compared to the year ended December 31, 2015. Diluted earnings per share for the year ended December 31, 2016 was $103.61, an increase of 15% from $89.99 per diluted share for 2015. Income before taxes was $661,697,000 compared to $603,212,000 a year ago.
NVR, Inc. is a leading U.S. homebuilder of single-family homes. Net sales break down by activity as follows:
- single home sales (94.6%): single-family detached, semi-detached and row homes (Ryan Homes, NVHomes and Heartland Homes brands);
- mortgage credit (5.4%): USD 6.3 billion outstanding managed in 2022.