NVR, Inc. NVR delivered a lackluster performance in second-quarter 2020, wherein both earnings and homebuilding revenues lagged the Zacks Consensus Estimate and declined year over year.However, its shares gained a notable 10.7% on Jul 22, post the earnings release. Investors’ sentiment might have got a boost on solid new orders and backlog growth during the quarter.Meanwhile, the impact of COVID-19 — which has significantly impacted all facets of the business — on future operational and financial performance is still unpredictable.Inside the numbersThe company reported earnings of $42.50 per share, which lagged the consensus mark of $44.89 by 5.3%. Also, the reported figure declined 19.9% from the prior-year figure of $53.09 per share.NVR, Inc. Price, Consensus and EPS Surprise NVR, Inc. price-consensus-eps-surprise-chart | NVR, Inc. QuoteTotal revenues (Homebuilding & Mortgage Banking fees combined) amounted to $1.62 billion during the reported quarter. The figure declined 10% on a year-over-year basis due to increase in sales cancellations during the pandemic.Segment DetailsHomebuilding: Revenues in the segment totaled $1.59 billion, down 9.6% from the year-ago level. The metric also missed the consensus estimate of $1.65 billion by 3.5%.Nonetheless, new orders increased 13% from the prior year to 5,901 units. Average sales price of new orders also inched up 2% from the prior-year quarter to $365,400. Cancellation rate was 16% in the quarter compared with 13% in the year-ago period. Settlements were down 9% year over year to 4,296 units.Quarter-end backlog — on a unit and dollar basis — was up 11% and 14% from the year-ago quarter to 10,623 units and $4.01 billion, respectively.Gross margin improved 30 basis points to 19.2%.Mortgage Banking: Mortgage banking fees decreased 26.1% year over year to $31.6 million. Moreover, mortgage closed loan production totaled $1.14 billion, down 7% year over year due to reduction in secondary marketing gains on sales of loans owing to disruption caused by the COVID-19 pandemic.FinancialsAt the end of the reported quarter, NVR had cash and cash equivalents for Homebuilding and Mortgage Banking of $1,982.9 million and $18 million compared with $1,110.9 million and $29.4 million, respectively, at 2019-end.Zacks Rank & Peer ReleasesNVR, which share space with PulteGroup Inc. PHM in the same industry, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Lennar Corporation LEN — currently carrying a Zacks Rank #3 (Hold) — reported better-than-expected results for second-quarter fiscal 2020 (ended May 31, 2020), defying significant business disruptions over the past three months. The results mainly benefited from effective cost control and focus on making its homebuilding platform more efficient, which in turn resulted in higher operating leverage.KB Home KBH — currently carrying a Zacks Rank #3 — reported lackluster results for second-quarter fiscal 2020 (ended May 31, 2020), wherein earnings and revenues lagged the respective Zacks Consensus Estimate. On a year-over-year basis, its bottom line increased while top line declined on lower deliveries and average selling price.The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PulteGroup, Inc. (PHM): Free Stock Analysis Report KB Home (KBH): Free Stock Analysis Report NVR, Inc. (NVR): Free Stock Analysis Report Lennar Corporation (LEN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research