Looking back on home builders stocks’ Q3 earnings, we examine this quarter’s best and worst performers, 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 11 home builders stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 1.9% while next quarter’s revenue guidance was 99.9% below.

While some home builders stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 4.1% 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 $2.73 billion, up 6.4% year on year. This print exceeded analysts’ expectations by 1.2%. Overall, it was a mixed quarter for the company with a solid beat of analysts’ backlog estimates but a significant miss of analysts’ EBITDA estimates.

Unsurprisingly, the stock is down 6.4% since reporting and currently trades at $9,026.

Is now the time to buy NVR? Access our full analysis of the earnings results here, it’s free.

Best Q3: LGI Homes (NASDAQ:LGIH)

Based in Texas, LGI Homes (NASDAQ:LGIH) is a homebuilding company specializing in constructing affordable, entry-level single-family homes in desirable communities across the United States.

LGI Homes reported revenues of $651.9 million, up 5.6% year on year, outperforming analysts’ expectations by 1.6%. The business had a stunning quarter with an impressive beat of analysts’ backlog and adjusted operating income estimates.

However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $102.50.

Is now the time to buy LGI Homes? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: 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 $10 billion, down 4.8% year on year, falling short of analysts’ expectations by 1.9%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations significantly and a significant miss of analysts’ EBITDA estimates.