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NVR misses 4Q profit forecasts

RESTON, Va. (AP) _ NVR Inc. (NVR) on Thursday reported fourth-quarter profit of $124.6 million.

The Reston, Virginia-based company said it had net income of $28.88 per share. Earnings, adjusted for pretax expenses, came to $43.41 per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $48.95 per share.

The homebuilder posted revenue of $1.78 billion in the period.

For the year, the company reported profit of $537.5 million, or $126.77 per share. Revenue was reported as $6.18 billion.

NVR shares have increased slightly more than 2 percent since the beginning of the year. The stock has more than doubled in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NVR at https://www.zacks.com/ap/NVR