Hovnanian Enterprises, Inc. - HOV STOCK NEWS

Hovnanian Enterprises, Inc. (HOV) reported a strong fiscal Q2 2022, showcasing a 161% year-over-year increase in pretax profit, reaching $80.9 million. Despite total revenues dipping slightly to $702.5 million, gross margins improved significantly, with a 520 basis point increase to 23.3%. Consolidated contract backlog surged by 16.1% to $2.06 billion. The company also reduced senior secured notes by $100 million, enhancing liquidity to $282.2 million. Guidance for FY 2022 remains strong, with total revenue anticipated between $2.80 billion and $3.00 billion.

Hovnanian Enterprises, Inc. (NYSE: HOV), a prominent national homebuilder, is set to release its financial results for the second quarter ending April 30, 2022, on June 1, 2022. A conference call will be held at 11:00 a.m. ET on the same day, and investors can access a live webcast on the company’s website. Hovnanian, founded in 1959, operates extensively across multiple states, specializing in active lifestyle communities through its K. Hovnanian Homes brand. Further details about the company can be found on its investor relations page.

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.