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, 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.
Hovnanian Enterprises, Inc. (NYSE: HOV) will announce its financial results for Q2 ended April 30, 2021, on June 3, 2021. A conference call, including a slide presentation, will occur at 11:00 a.m. ET on the same day, accessible via the company's Investor Relations page. Participants are encouraged to join five minutes early. An archive will be available post-event, with the telephone replay accessible for one week and the webcast archive for 12 months. Founded in 1959, Hovnanian is among the largest homebuilders in the U.S., known for K. Hovnanian Homes.
Hovnanian Enterprises (HOV) reported a significant turnaround in its fiscal first quarter results ending January 31, 2021. Key highlights include a 16.3% increase in total revenues to $574.7 million, and a remarkable 85% increase in consolidated backlog to $1.67 billion. The company achieved a $27 million improvement in pretax income, with net income of $19 million or $2.75 per diluted share. Gross margins improved by 440 basis points to 17.3%. The outlook for fiscal 2021 indicates revenues between $2.65 billion and $2.80 billion.
Hovnanian Enterprises, Inc. (NYSE: HOV) will announce its financial results for the first quarter ending January 31, 2021, on March 2, 2021. The earnings conference call is scheduled for 11:00 a.m. (ET) and will be accessible via a live webcast through the Company’s website, khov.com. An archive will be available for a year. Founded in 1959, Hovnanian is one of the largest homebuilders in the U.S., operating in various states and offering active lifestyle communities.
Hovnanian Enterprises, Inc. (HOV) reported its fiscal 2020 fourth quarter results, showcasing a 290 basis point increase in gross margin, reaching 17.4%. Total revenues for the quarter were $683.4 million, a 4.2% decline year-over-year, but annual revenues rose 16.2% to $2.34 billion. The company achieved a 61% increase in consolidated backlog, totaling $1.42 billion by year-end. Net income for the quarter was $40.6 million, or $5.54 per share, compared to a net loss previously. With a strong demand for homes, management expects revenue growth between $2.5 billion and $2.7 billion for fiscal 2021.
Hovnanian Enterprises, Inc. (NYSE: HOV) will announce its financial results for the fourth quarter and fiscal year ending October 31, 2020, on December 9, 2020. The earnings conference call is scheduled for 11:00 a.m. ET on the same day and will be accessible via the company's website. A recording will be available post-event for those unable to attend. Founded in 1959, Hovnanian is among the largest homebuilders in the U.S., operating in states including California, Florida, and Texas, and marketing homes under the K. Hovnanian brand.
Hovnanian Enterprises (HOV) reported a 30.3% year-over-year increase in total revenues for Q3 FY2020, totaling $628.1 million, and a 47% rise in consolidated contracts. Pretax income improved to $16.2 million, up from a loss of $7.1 million the previous year. The company achieved a gross margin of 13.6% for Q3, slightly down from 14.0% a year ago. Despite the impact of COVID-19, demand remains strong due to low mortgage rates. Hovnanian expects meaningful improvements in 2021, controlling sufficient lots for anticipated delivery growth.
Hovnanian Enterprises (NYSE: HOV) will announce its third-quarter financial results for the period ending July 31, 2020, on September 3, 2020. The earnings conference call is set for 11:00 a.m. ET and will be available via webcast on the company's Investor Relations website. Hovnanian is a major national homebuilder, operating across several states and known for its K. Hovnanian® Homes brand and active lifestyle communities. Detailed access instructions for the webcast are provided, along with information for those who wish to view the archived recording.
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