Quarter ended September 30, 2026.
| Settlements | 5,268 (↓7%) |
| Revenue | $2.40B (↓8%) |
| Gross margin | 18.3% |
| Orders | 4,391 (↓7%) |
Commentary
NVR does not hold an earnings call. It wrote off $24.8M of lot deposits on deals that no longer pencil. That is the land-light model working: walk away and lose the deposit instead of carrying the land.
Source: NVR 8-K.
