NVR Inc. (NVR) recently reported an increase in earnings for its first quarter, surpassing its earnings from the same period last year and exceeding Wall Street predictions.
The company's net income reached $394.27 million, which equates to $116.41 a share — a growth from the previous year's first quarter, which saw $344.35 million or $99.89 per share.
Analysts had projected on average that the company would earn $103.97 per share, a figure compiled by Thomson Reuters and typically excludes any special items.
NVR Inc.'s revenue for the quarter also experienced growth, showing a 7.5% rise to reach $2.29 billion, up from $2.13 billion during the same time last year.
Taking a look at NVR Inc.'s earnings based on Generally Accepted Accounting Principles (GAAP):
- First Quarter Earnings: $394.27 million, up from $344.35 million last year.
- First Quarter Earnings Per Share: $116.41, an increase from $99.89 last year.
- First Quarter Revenue: $2.29 billion, up from $2.13 billion last year.
