NVR shares slip after lower Q1 revenue, profit

Shares of homebuilder NVR NVR.N fall 5.8% to $6,531.52

Stock second-biggest percentage decliner on the S&P 500 as of 10:54 a.m. ET

Co's Q1 consolidated revenue falls 22% YoY to $1.88 bln, but above analysts' estimate of $1.84 bln - data compiled by LSEG

Q1 profit decreased to $67.76/shr from $94.83/shr a year-ago

Settlements decreased by 22% to 4,015 units, primarily due to a 15% lower backlog balance sold but not settled entering Q1

Mortgage closed loan production fell 27% year-on-year, contributing to lower mortgage banking segment income

The average recommendation of 8 analysts is a "hold" and the median price target is $8,100 - LSEG-compiled data

Stock trades at 17 times forward 12-month earnings

NVR stock down about 11% YTD, including session's gains