Homebuilder NVR falls on second-quarter profit miss
23/07/2024 16:29
** Shares of NVR Inc NVR.N fall 1.2% to $8541.5
** Co missed Wall Street estimates Q2 profit on subdued
demand for new homes amid high mortgage rates
** Reported Q2 net income of $120.69 per share, lower than
analysts' estimates of $121.21 per share, as per LSEG data
** Q2 gross profit margin fell to 23.6% from 24.3% year ago
** Including session moves, stock had risen 22% YTD
(Reporting by Aatreyee Dasgupta)
((Aatreyee.Dasgupta@thomsonreuters.com))