NVR Inc. (NVR) reported that its first-quarter net income increased to $35.04 million or $6.84 per share, from $20.12 million or $3.90 per share, last year. Consolidated revenues were $770.26 million, a 28% increase from $600.49 million last year.
On average, eight analysts polled by Thomson Reuters expected the company to report profit of $8.05 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $840.94 million for the quarter.
Homebuilding revenues totaled $750.87 million, 28% higher than the year earlier period. Gross profit margins increased to 16.9% from 16.1% prior year.
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