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. (NYSE: HOV) is a Matawan, New Jersey-based homebuilder that regularly issues detailed updates on its operations, capital structure and guidance. As one of the nation’s largest homebuilders, with operations in states including Arizona, California, Delaware, Florida, Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia, the company’s news flow offers insight into trends across multiple U.S. housing markets.
On this page, readers can follow Hovnanian’s earnings announcements, where the company reports quarterly and annual results, homebuilding gross margins, contracts, community counts, backlog and non-GAAP metrics such as EBITDA, Adjusted EBITDA and Adjusted EBIT ROI. These releases often include management commentary on housing demand, incentives, land strategy, liquidity and returns on equity and inventory.
Hovnanian also issues news about its financing activities and balance sheet management. Recent items have covered the pricing and issuance of senior notes due 2031 and 2033, the redemption of higher coupon secured notes, repayment of a senior secured term loan facility and amendments to its revolving credit facility that extend maturities and set interest terms. Such announcements help investors understand how the company is managing leverage, interest expense and its maturity schedule.
In addition, Hovnanian’s news includes information about investor conference presentations, strategic initiatives and international collaborations. For example, the company has reported a strategic Memorandum of Understanding between its Middle East subsidiary and Saudi Arabia’s NHC, as well as participation in investor conferences. Bookmark this page to access a consolidated feed of HOV news, from earnings releases and guidance updates to capital markets transactions and strategic partnerships.
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.
Hovnanian Enterprises, Inc. (HOV) reported a 22.2% increase in total revenues for Q2 2020, reaching $538.4 million, compared to $440.7 million in Q2 2019. The company achieved a 125.1% growth in EBITDA to $50.9 million. Homebuilding gross margin improved by 120 basis points to 14.5%. However, net income was $4.1 million ($0.63 per share), contrasted with a loss of $15.3 million a year prior. The company did experience a 23% contract cancellation rate and maintained a cautious outlook due to economic uncertainties, while liquidity stood at $247.1 million.
Hovnanian Enterprises, Inc. (NYSE: HOV) will release its financial results for the second quarter on June 4, 2020. A webcast conference call will take place at 11:00 a.m. (ET) on the same day. The call can be accessed via the Investor Relations section of Hovnanian's website. Archived content will be available for those unable to attend live. Established in 1959, Hovnanian is one of the largest homebuilders in the U.S., operating in multiple states and specializing in active lifestyle communities under the K. Hovnanian® Homes brand.