Hovnanian Enterprises

Hovnanian Enterprises, Inc. is a homebuilding company, which engages in the design, construction, and marketing of single-family attached town homes, attached townhomes and condominiums, urban infill, and lifestyle homes in planned residential developments. It operates through the following segments: Northeast, Southeast, and West. The Northeast segment consists of Delaware, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, Virginia, and West Virginia. The Southeast segment focuses on Florida, Georgia, and South Carolina. The West segment includes Arizona, California, and Texas. The company was founded by Kevork S. Hovnanian in 1959 and is headquartered in Matawan, NJ.

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

Hovnanian Enterprises anticipates improved performance despite Q1 revenue decline

Hovnanian Enterprises faced revenue decline in Q1 2023 due to economic challenges but expects better performance ahead. Strong website visits and increased contracts per community signal positive momentum. The company is addressing challenges like lower margins on QMIs and sees opportunities in improving sales strategies.

Hovnanian Enterprises surpasses Q2 guidance, eyes debt reduction and growth

Hovnanian Enterprises delivered a strong performance in Q2 2023, surpassing guidance and benefiting from strong demand for quick move-in homes. The company's emphasis on debt reduction, cash position, and tax strategies positions it well for future growth and financial stability.

Hovnanian Enterprises excels in Q3, eyes growth amid market challenges

Hovnanian Enterprises delivered a robust performance in Q3, surpassing financial targets and demonstrating operational resilience amidst market challenges.
While facing uncertainties related to interest rates and global events, the company's strategic focus on debt reduction and customer-centric offerings positions them for future growth.
With strong sales, healthy margins, and a positive outlook for '24, Hovnanian has the opportunity to capitalize on market dynamics and drive sustained profitability.
The company's emphasis on liquidity, debt reduction, and customer satisfaction underscores their commitment to financial stability, operational excellence, and long-term value creation.

Hovnanian Enterprises excels in Q4, eyes aggressive growth strategy

Hovnanian Enterprises reported robust financial performance, exceeding revenue guidance and showcasing strong demand.
The company's focus on quick move-in homes and incentives drove sales growth, with optimism for future quarters.
While challenges like rising mortgage rates and cost pressures exist, opportunities for growth and balance sheet improvement are evident.
Executives hint at an aggressive growth strategy, emphasizing the company's strong financial position compared to peers.

Hovnanian Enterprises excels in Q1 with revenue growth and profit surge

Hovnanian Enterprises delivered strong financial results in Q1 '24, driven by revenue growth, profit increase, and strategic sales initiatives. The company's focus on debt reduction, sales pace, and future market prospects positions it well for growth and profitability.

Hovnanian Enterprises surpasses Q2 expectations, eyes growth amidst valuation challenges

Hovnanian Enterprises delivered robust financial results, exceeding guidance across key metrics. Despite market valuation challenges, the company remains confident in its growth prospects and performance. Strong focus on sustainable growth strategies and cost management is driving positive momentum.

Hovnanian Enterprises surpasses Q3 expectations, eyes growth opportunities ahead

Hovnanian Enterprises delivered strong financial results in Q3 2024, exceeding expectations and showcasing growth potential.
While facing challenges in contract volatility and debt management, the company benefits from market demand and expansion opportunities.
Strategic initiatives like debt restructuring and stock buybacks position the company well for future growth and value creation.

Hovnanian Enterprises reports robust Q4 results amidst operational challenges

Hovnanian Enterprises delivered strong financial performance in Q4 2024, with revenue growth, despite facing operational challenges from natural disasters.
The company's strategic focus on sales pace and growth bodes well for future expansion and shareholder returns, underlining a commitment to long-term success.
While challenges like weather disruptions impacted Q4, Hovnanian's growth plans and market opportunities position it for continued success and resilience.

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Hovnanian Enterprises, Inc. is a homebuilding company, which engages in the design, construction, and marketing of single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes in planned residential developments. It operates through the following segments: Northeast, Southeast, and West. The Northeast segment consists of Delaware, Maryland, New Jersey, Ohio, Pennsylvania, Virginia, and West Virginia. The Southeast segment focuses on Florida, Georgia, and South Carolina. The West segment includes Arizona, California, and Texas. The company was founded by Kevork S. Hovnanian in 1959 and is headquartered in Matawan, NJ.

81% Year over Year Increase in Net Contracts Net Contracts per Community Increased 92% Year over Year Homebuilding Gross Margin Percentage Improved Sequentially by 230 Basis Points 53% Sequential Growth in Income Before Income Taxes Redeemed in August $100 Million of Principal Amount of 7.75% Senior Secured Notes Due February 2026 Increased Full Year Guidance

Hovnanian Enterprises Reports Fiscal 2023 Third Quarter Results

MATAWAN, N.J., Aug. 16, 2023 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, will release financial results for the third quarter ended July 31, 2023, the morning of Wednesday, August 30, 2023. The Company will webcast its third quarter earnings conference call at 11:00 a.m. (ET) on Wednesday, August 30, 2023.

Hovnanian Enterprises Announces Third Quarter Fiscal Year 2023 Earnings Release and Conference Call

MATAWAN, N.J., June 20, 2023 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, announced that J. Larry Sorsby, Executive Vice President and Chief Financial Officer, intends to retire from the Company effective October 31, 2023. Mr. Sorsby will continue to serve the Company in his role as a member of the Board of Directors.

Hovnanian Enterprises Announces Retirement of Larry Sorsby, Executive Vice President and Chief Financial Officer

Hovnanian's stock is still undervalued, with a fair value estimate at $120, despite doubling since my last article. The long-term outlook for homebuilders remains positive, with a significant housing shortage in the US and promising near-term signs. Hovnanian is a capable builder with a weak balance sheet, but its debt position is improving, and its capabilities as a builder support a higher valuation.

Buy Homebuilder Hovnanian, It's Still A Solid Value Play

Hovnanian Enterprises, Inc. Pfd Shs Series A

Hovnanian Enterprises, Inc. (NYSE:HOV ) Q2 2023 Earnings Conference Call May 31, 2023 11:00 AM ET Company Participants Jeff O'Keefe - Vice President, Investor Relations Ara Hovnanian - Chairman, President & Chief Executive Officer Larry Sorsby - Executive Vice President & Chief Financial Officer Brad O'Connor - Senior Vice President, Chief Accounting Officer & Treasurer Conference Call Participants Jesse Lederman - Zelman & Associates Jordan Hymowitz - Philadelphia Financial Management Alex Barron - Housing Research Center Operator Good morning and thank you for joining us today for Hovnanian Enterprises Fiscal 2023 Second Quarter Earnings Conference Call. An archive of the webcast will be available after the completion of the call and run for 12 months.

Hovnanian Enterprises, Inc. (HOV) Q2 2023 Earnings Call Transcript

Achieved Income Before Income Taxes of $46 Million Exceeded High End of Guidance for Adjusted Pretax Income by 32% Net Contracts per Community Increased 100% versus First Quarter 2023 Consolidated Community Count Increased 12% Year over Year Redeemed in May $100 Million of Principal Amount of 7.75% Senior Secured Notes Due February 2026

Hovnanian Enterprises Reports Fiscal 2023 Second Quarter Results

MATAWAN, N.J., May 17, 2023 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, will release financial results for the second quarter ended April 30, 2023, the morning of Wednesday, May 31, 2023. The Company will webcast its second quarter earnings conference call at 11:00 a.m. (ET) on Wednesday, May 31, 2023.

Hovnanian Enterprises Announces Second Quarter Fiscal Year 2023 Earnings Release and Conference Call

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Hovnanian Enterprises, Inc. (NYSE:HOV ) Q1 2023 Earnings Conference Call February 28, 2023 11:00 AM ET Company Participants Jeff O'Keefe - Vice President, Investor Relations Ara Hovnanian - Chairman, President & Chief Executive Officer Larry Sorsby - Executive Vice President & Chief Financial Officer Brad O'Connor - Senior Vice President, Chief Accounting Officer & Treasurer Conference Call Participants Alex Barron - Housing Research Center Jesse Lederman - Zelman & Associates Operator Good morning, and thank you for joining us today for Hovnanian Enterprises Fiscal 2023 First Quarter Earnings Conference Call. An archive of the webcast will be available after the completion of the call and run for 12 months.

Hovnanian Enterprises, Inc. (HOV) Q1 2023 Earnings Call Transcript

Gross Margins for the Quarter for Both Deliveries and Recent Contracts Remains Strong Net Contracts per Community Increased from 1.5 in November to 3.0 in January and Accelerated Further in February

Hovnanian Enterprises Reports Fiscal 2023 First Quarter Results

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MATAWAN, N.J., Feb. 14, 2023 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, will release financial results for the first quarter ended January 31, 2023 the morning of Tuesday, February 28, 2023. The Company will webcast its first quarter earnings conference call at 11:00 a.m. (ET) on Tuesday, February 28, 2023.

Hovnanian Enterprises Announces First Quarter Fiscal Year 2023 Earnings Release and Conference Call

The homebuilders market is going to get worse before it gets better. The combination of rising interest and mortgage rates, and upcoming historically seasonal strength could be a crushing blow to Hovnanian Enterprises, Inc. if demand goes further to the downside.

Hovnanian Enterprises: Home-Ageddon Is Upon It

Start Time: 11:00 January 1, 0000 12:02 PM ET Hovnanian Enterprises, Inc. (NYSE:HOV ) Q4 2022 Earnings Conference Call December 08, 2022, 11:00 AM ET Company Participants Ara Hovnanian - Chairman, President and CEO Larry Sorsby - EVP and CFO Brad O'Connor - SVP, Chief Accounting Officer and Treasurer Jeff O'Keefe - VP, IR Conference Call Participants Alan Ratner - Zelman & Associates Alex Barron - Housing Research Center Operator Good morning and thank you for joining us today for Hovnanian Enterprises Fiscal 2022 Fourth Quarter Earnings Conference Call. An archive of the webcast will be available after the completion of the call and run for 12 months.

Hovnanian Enterprises, Inc. (HOV) Q4 2022 Earnings Call Transcript

$320 Million Pretax Profit in Fiscal 2022 a 68% Year-over-Year Increase Gross Margin Percentage Increased 290 Basis Points Year-over-Year for Full Year Full Year Interest Expense as Percent of Total Revenue Declined 130 Basis Points Year-over-Year

Hovnanian Enterprises Reports Fiscal 2022 Fourth Quarter and Full Year Results

MATAWAN, N.J., Nov. 28, 2022 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, will release financial results for the fourth quarter and fiscal year ended October 31, 2022 the morning of Thursday, December 8, 2022. The Company will webcast its fourth quarter earnings conference call at 11:00 a.m. (ET) on Thursday, December 8, 2022.

Hovnanian Enterprises Announces Fiscal Year 2022 Earnings Release and Conference Call

Announces Increased Focus on Preserving Liquidity Announces Increased Focus on Preserving Liquidity

Hovnanian Enterprises Reiterates Fiscal 2022 Guidance Except for Updating EPS Guidance to Between $28.50 and $30.00

RED BANK, N.J., Sept. 15, 2022 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, announced that senior management will be participating in a fireside chat at Deutsche Bank's 30th Annual Leveraged Finance Conference on Tuesday, September 20, 2022 at 4:35 p.m. ET.

Hovnanian Enterprises to Present at Deutsche Bank's 30th Annual Leveraged Finance Conference

Housing remains in serious shortage. Hovnanian's near-term earnings and cash generation are guaranteed to be large.

Homebuilder Hovnanian: Crazy Cheap, Trust The Data

Hovnanian Enterprises, Inc. (NYSE:HOV ) Q3 2022 Earnings Conference Call September 1, 2022 11:00 AM ET Company Participants Jeff O'Keefe - Vice President of Investor Relations Ara Hovnanian - Chairman, President, and Chief Executive Officer Larry Sorsby - Executive Vice President, and Chief Financial Officer Brad O'Connor - Senior Vice President, Chief Accounting Officer, and Treasurer Conference Call Participants Kwaku Abrokwah - Goldman Sachs Jesse Lederman - Zelman & Associates Operator Good morning and thank you for joining us today for Hovnanian Enterprises Fiscal 2022 Third Quarter Earnings Conference Call. An archive of the webcast will be available after the completion of the call and run for 12 months.

Hovnanian Enterprises, Inc. (HOV) Q3 2022 Earnings Call Transcript

Shares of Hovnanian Enterprises Inc. HOV, +2.37% leapt 3.2% in afternoon trading Thursday, to bounce off the previous session's 19-month closing low, after the home builder a big jump in fiscal third-quarter profit and lifted its full-year outlook, despite signs of a slowing housing market. Net income for the quarter to July 31 rose to $79.95 million, or $10.82 a share, from $47.70 million, or $6.72 a share, in the year-ago period.

Hovnanian stock rallies after big profit rise, raised outlook even as home demand continues to slow

81% Year-over-Year Increase in Pretax Profit Gross Margin Percentage Increased 390 Basis Points Year-over-Year Interest Expense as Percent of Revenue Declined 140 Basis Points Year-over-Year Backlog Cancellation Rate Increased to 8% From 6% Last Year Consolidated Contract Dollars Declined 23% Year-over-Year Increased Full Year EBITDA, Gross Margin and Adjusted Pretax Profit Guidance

Hovnanian Enterprises Reports Fiscal 2022 Third Quarter Results

MATAWAN, N.J., Aug. 18, 2022 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, will release financial results for the third quarter ended July 31, 2022 the morning of Thursday, September 1, 2022. The Company will webcast its third quarter earnings conference call at 11:00 a.m. (ET) on Thursday, September 1, 2022.

Hovnanian Enterprises Announces Third Quarter Fiscal Year 2022 Earnings Release and Conference Call

This $56 stock should earn about $30 per share this year. That's a 2 P/E! I review the '06 housing meltdown, and how both the industry and Hovnanian are radically different today.

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