Welcome to our dedicated page for Hovnanian Enterprises news (Ticker: HOV), a resource for investors and traders seeking the latest updates and insights on Hovnanian Enterprises stock.
Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is a leading national homebuilder headquartered in Matawan, New Jersey. The company, traded under the symbol HOV, operates across numerous states including Arizona, California, Delaware, Florida, Georgia, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, D.C., and West Virginia. Hovnanian is renowned for its diversified portfolio of homebuilding services, offering a wide array of attached and detached home styles to meet the needs of first-time buyers to luxury home seekers.
As the developer of K. Hovnanian’s® Four Seasons communities, Hovnanian is one of the largest builders of active lifestyle communities in the nation. The company markets and sells homes under several trade names, including K. Hovnanian® Homes, Brighton Homes®, and Parkwood Builders.
Hovnanian conducts its operations through two primary segments: homebuilding and financial services. The homebuilding operations are geographically segmented into three divisions: Northeast, Southeast, and West, with the West segment generating the maximum revenue.
Recent highlights include a notable partnership with GTIS Partners, a global real estate investment firm, to develop eight additional homebuilding communities. This expansion encompasses 1,392 homes across New Jersey, Florida, Delaware, and South Carolina, with a total investment of approximately $800 million. This partnership has proven fruitful, representing around $6 billion in total project costs across 12,600 homebuilding units, reflecting both firms' strong working relationship and collaborative success.
Hovnanian Enterprises will be releasing its fourth quarter and fiscal year financial results for the period ending October 31, 2023, on December 5, 2023. The company will host a webcast to discuss these results, providing insights into its performance and future outlook.
For those interested in opportunities with Hovnanian Enterprises, career listings can be found at http://www.khov.com/careers. Additional information about Hovnanian Enterprises, including investor relations, can be accessed through their website at http://www.khov.com.
Hovnanian Enterprises (HOV) reported a strong fiscal Q1 2022 performance, with a 81% year-over-year increase in pretax profit and net income rising 30.9% to $24.8 million, or $3.07 per diluted share. Total revenues were $565.3 million, a slight decline from $574.7 million a year earlier. The consolidated backlog increased 13.2% to $1.89 billion, and the company maintained a healthy liquidity of $271 million. Despite challenges from supply chain disruptions, Hovnanian reiterated its revenue guidance for fiscal 2022, estimating between $2.80 billion and $3.00 billion.
Hovnanian Enterprises, Inc. (NYSE: HOV) will announce its first quarter financial results for the period ending January 31, 2022, on March 1, 2022. A conference call is scheduled for 11:00 a.m. (ET) on the same day, which will be accessible via their website. Those unable to attend can access a replay of the call for one week after the event, with an archive available for 12 months. Hovnanian is recognized as one of the largest homebuilders in the U.S. with operations across several states.
Hovnanian Enterprises, Inc. (NYSE: HOV) has appointed Miriam Hernandez-Kakol to its Board of Directors, expanding the board to eight members. Hernandez-Kakol, a former Partner at KPMG LLP, brings over 20 years of strategic advisory experience and expertise in driving growth initiatives. Chairman Ara K. Hovnanian expressed enthusiasm about her contribution to the company's growth and profitability goals. Her impressive background includes leadership roles in significant consulting practices and a commitment to STEM initiatives.
Hovnanian Enterprises (HOV) reported a 243% increase in pretax profit for fiscal 2021, totaling $190 million. The fourth quarter saw a 82% rise in pretax profit, with total revenues up 19.2% to $814.3 million. The homebuilding gross margin improved by 390 basis points year-over-year, reaching 18.6% for the full year. Consolidated backlog increased 15.4% to $1.64 billion. Hovnanian's community count rose to 140, up 17% sequentially. For Q1 2022, revenue guidance is set between $640 million and $670 million.
Hovnanian Enterprises, Inc. (NYSE: HOV) is set to release its financial results for the fourth quarter and fiscal year ending October 31, 2021, on December 9, 2021. The results will be discussed in a live webcast at 11:00 a.m. ET on the same day, accessible via the company’s Investor Relations section. An archive of the webcast will be available for one year for those unable to attend live. Founded in 1959, Hovnanian is among the largest national homebuilders, operating in multiple states and marketing homes under the K. Hovnanian Homes brand.
Hovnanian Enterprises, Inc. (HOV) revised its guidance for the fourth quarter and full year of fiscal 2021, citing significant supply chain challenges. Total revenues for Q4 are projected between $780 million and $830 million, with adjusted pretax income estimated at $45 million to $60 million. For the entire fiscal year, revenues are expected between $2.75 billion and $2.80 billion, with adjusted pretax income between $160 million and $175 million. The company anticipates over 200% year-over-year improvement in pretax profitability, supported by a healthy contract pace and increased community count for fiscal 2022.
Hovnanian Enterprises (NYSE: HOV), a prominent national homebuilder, will present at Deutsche Bank’s 29th Annual Leveraged Finance Conference virtually on October 6, 2021, at 10:00 a.m. ET. Participants can access the live webcast via the Investor Relations section of Hovnanian's website at http://www.khov.com. An archive of the presentation will be available afterward. Founded in 1959, Hovnanian operates in multiple states and is recognized as a leading builder of active lifestyle communities.
Hovnanian Enterprises, Inc. (HOV) reported strong fiscal third-quarter results, with revenues up 10% to $690.7 million and pretax income rising 281% to $62 million. Gross margin increased 560 basis points to 19.2%, while consolidated backlog dollars rose 42% to $1.75 billion. The company paid off $181 million in senior secured notes in Q3 and Q4. Despite a 31% drop in consolidated contract dollars to $609.1 million, overall nine-month performance showed an 18.5% revenue increase to $1.97 billion. Q4 revenue guidance is set between $830 and $880 million, with total fiscal 2021 revenue expected to reach $2.80 billion to $2.85 billion.
Hovnanian Enterprises, Inc. (NYSE: HOV) will announce its third-quarter financial results for the period ending July 31, 2021, on September 9, 2021. The earnings conference call will take place at 11:00 a.m. (ET) and will be accessible via the company's website. An archived version of the call will be available for review afterwards. Founded in 1959, Hovnanian is a prominent national homebuilder with operations across multiple states, known for its K. Hovnanian Homes brand and active lifestyle communities.
Hovnanian Enterprises reported a 31% year-over-year rise in total revenues for Q2 2021, reaching $703.2 million. The company's gross margin increased by 360 basis points to 18.1%, and consolidated backlog grew 85% year-over-year to $1.77 billion. Adjusted EBITDA surged by 49.9% to $76.3 million. Hovnanian raised its full-year profitability guidance amidst strong demand for new homes. A redemption notice for 10% senior secured notes due 2022 was also issued.
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