
As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the home builders industry, including NVR (NYSE: NVR) and its peers.
Traditionally, homebuilders have built competitive advantages with economies of scale that lead to advantaged purchasing and brand recognition among consumers. Aesthetic trends have always been important in the space, but more recently, energy efficiency and conservation are driving innovation. However, these companies are still at the whim of the macro, specifically interest rates that heavily impact new and existing home sales. In fact, homebuilders are one of the most cyclical subsectors within industrials.
The 13 home builders stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 3.1%.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 10.6% since the latest earnings results.
NVR (NYSE: NVR)
Known for its unique land acquisition strategy, NVR (NYSE: NVR) is a respected homebuilder and mortgage company in the United States.
NVR reported revenues of $2.71 billion, down 4.7% year on year. This print exceeded analysts’ expectations by 9.4%. Overall, it was an exceptional quarter for the company with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ revenue estimates.

Unsurprisingly, the stock is down 13.7% since reporting and currently trades at $6,471.
Is now the time to buy NVR? Access our full analysis of the earnings results here, it’s free.
Best Q4: Taylor Morrison Home (NYSE: TMHC)
Named “America’s Most Trusted Home Builder” in 2019, Taylor Morrison Home (NYSE: TMHC) builds single family homes and communities across the United States.
Taylor Morrison Home reported revenues of $2.1 billion, down 10.9% year on year, outperforming analysts’ expectations by 7.2%. The business had a stunning quarter with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ adjusted operating income estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 10.8% since reporting. It currently trades at $59.23.
Is now the time to buy Taylor Morrison Home? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: Meritage Homes (NYSE: MTH)
Originally founded in 1985 in Arizona as Monterey Homes, Meritage Homes (NYSE: MTH) is a homebuilder specializing in designing and constructing energy-efficient and single-family homes in the US.
Meritage Homes reported revenues of $1.44 billion, down 11.5% year on year, falling short of analysts’ expectations by 3.8%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income estimates.
As expected, the stock is down 8.8% since the results and currently trades at $63.09.
Read our full analysis of Meritage Homes’s results here.
Champion Homes (NYSE: SKY)
Founded in 1951, Champion Homes (NYSE: SKY) is a manufacturer of modular homes and buildings in North America.
Champion Homes reported revenues of $656.6 million, up 1.8% year on year. This print was in line with analysts’ expectations. Overall, it was an exceptional quarter as it also produced a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ adjusted operating income estimates.
The stock is up 1.3% since reporting and currently trades at $77.00.
Read our full, actionable report on Champion Homes here, it’s free.
D.R. Horton (NYSE: DHI)
One of the largest homebuilding companies in the U.S., D.R. Horton (NYSE: DHI) builds a variety of new construction homes across multiple markets.
D.R. Horton reported revenues of $6.89 billion, down 9.5% year on year. This number beat analysts’ expectations by 3.4%. It was a strong quarter as it also put up an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ revenue estimates.
D.R. Horton achieved the highest full-year guidance raise among its peers. The stock is down 10% since reporting and currently trades at $140.30.
Read our full, actionable report on D.R. Horton here, it’s free.
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