NVR, Inc. NVR reported second-quarter 2021 results, wherein both earnings and homebuilding revenues surpassed the Zacks Consensus Estimate as well as improved significantly from the year-ago period.The company has been witnessing strong demand for new homes. However, uncertainty regarding the extent and timing of disruption owing to the COVID-19 pandemic along with related governmental actions still persist. Also, uncertain effects of economic relief efforts on the U.S. economy, unemployment, consumer confidence, demand for homes, and the mortgage market may put pressure on future operational and financial performance.Inside the numbersThe company reported earnings of $82.45 per share, which topped the consensus mark of $64.87 by 27.1%. Also, the reported figure increased 94% from the prior-year figure of $42.50 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 $2.28 billion for the reported quarter, reflecting an increase of 41% on a year-over-year basis backed by solid homebuilding revenues.Segment DetailsHomebuilding: Revenues in the segment totaled $2.22 billion, up 40% from the year-ago level. The metric also topped the consensus estimate of $2.05 billion by 8.3%.However, new orders fell 6% from the prior year to 5,521 units. Average sales price of new orders, however, rose 20% from the prior-year quarter to $440,200. Cancellation rate was 8% for the quarter compared with 16% in the year-ago period. Settlements were up 32% year over year to 5,685 units.Quarter-end backlog — on a unit and dollar basis — was up 19% and 35% from the year-ago quarter to 12,627 units and $5.41 billion, respectively.Gross margin improved 340 basis points to 22.6%.Mortgage Banking: Mortgage banking fees increased 86.8% year over year to $59 million. Moreover, mortgage closed loan production totaled $1.57 billion, up 37% year over year due to increased mortgage volume.FinancialsAt the end of the reported quarter, NVR had cash and cash equivalents for Homebuilding and Mortgage Banking of $2.6 billion and $20.8 million compared with $2.7 billion and $63.5 million, respectively, at 2020-end.Zacks Rank & Peer ReleasesNVR, which shares space with PulteGroup Inc. PHM in the same industry, currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Lennar Corporation LEN — which currently sports a Zacks Rank #1 — reported better-than-expected results for second-quarter fiscal 2021 (ended May 31, 2021). The quarterly results benefited from solid execution of homebuilding and financial services businesses. Also, robust housing market conditions added to its bliss.KB Home KBH — currently sporting a Zacks Rank #1 — recently reported second-quarter fiscal 2021 results. Although earnings surpassed the Zacks Consensus Estimate, revenues missed the same. Nonetheless, both earnings and revenues grew significantly from a year ago buoyed by strong housing market demand. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>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 Lennar Corporation (LEN): Free Stock Analysis Report NVR, Inc. (NVR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research