NVR - NVR stock dips after Q1 earnings fall more than expected from Q4 levels

NVR (NVR) stock drops 2.2% after Q1 results miss the consensus estimates, with EPS and revenue declining from Q4 2020 levels.Q1 2021 EPS of $63.21 trails the average analyst estimate of $65.08; compares with $76.93 in Q4 2020 and $44.96 in Q1 2020.Q1 consolidated revenue of $2.04B slightly misses the consensus estimate of $2.06B; declines from $2.34B in Q4 2020 and rose from $1.58B in Q1 2020.Q1 new orders of 6,314 units rose 15% Q/Q, and 26% on Y/Y basis.Backlog of homes sold but not settled as of March 31, 2021 was 12,791 units, or $5.20B on a dollar basis, vs. 11,549 units, or $4.58B on a dollar basis at Dec. 31, 2020.Homebuilding revenue of $1.96B in Q1 2021 declined from $2.26B in Q4 2020 but rose from $1.56B in Q1 2020.Homebuilding selling, general and administrative expenses of $121.4M increased from $112.4M in Q4.Mortgage closed loan production of $1.41B slipped from

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NVR stock dips after Q1 earnings fall more than expected from Q4 levels