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Hovnanian Enterprises (HOV) reports developments from a national homebuilding business that designs, constructs, markets and sells homes under the K. Hovnanian Homes name. News commonly covers quarterly and annual results, home deliveries and contracts, community count, margins, backlog, liquidity, debt refinancing and guidance for revenue and homebuilding profitability.
The company operates through homebuilding and financial services activities, with communities across states in the Northeast, Southeast and West. Updates also include land and community development, unconsolidated and joint venture homebuilding portfolios, active lifestyle communities developed under K. Hovnanian’s Four Seasons brand, and residential or mixed-use development initiatives involving subsidiaries.
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.