Hovnanian Enterprises Inc SEC Filings

Hovnanian Enterprises, Inc. disclosed arrangements related to new secured financing dated September 25, 2025. The company and its subsidiary guarantors entered into an Indenture with Wilmington Trust, National Association, as Trustee, in connection with issuance of senior secured notes. The filing references forms for an 8.000% Senior Note due 2031 and an 8.375% Senior Note due 2033. The company also documented a Revolving Credit Facility providing for up to $125.0 million in aggregate senior secured first lien revolving loans, which became effective as of that date. The document is signed by the Chief Financial Officer, Brad G. O'Connor.

Hovnanian Enterprises, Inc. reported results for the three and nine months ended July 31, 2025 showing lower profitability as homebuilding gross margin and net income declined versus prior-year periods. Revenue rose as home deliveries increased (14.0% and 10.2% for the three and nine months), but average price per home fell, pressuring margins. Income before taxes fell to $23.8 million for the quarter and $90.2 million year-to-date, with net income down to $16.6 million for the quarter and diluted EPS falling to $1.99 year-to-date. The company recorded inventory impairments of $7.6 million and $8.8 million for the three and nine months, recognized a $22.7 million gain from contributing assets to a joint venture, and maintained cash and liquidity of $277.9 million (including $146.6 million cash and $125.0 million revolver capacity). Debt refinancings and new secured term loans reshaped the capital structure, and mortgage warehouse activity reflected lower mortgage origination volumes.

Hovnanian Enterprises insider transaction summary: On 08/28/2025 Ara K. Hovnanian, who serves as Chairman of the Board, President and CEO and is a 10% owner, reported the sale of 609 shares of Class A common stock at a weighted average price of $138.3094 per share. The Form 4 shows numerous indirect holdings that the reporting person disclaims beneficial ownership of except for potential pecuniary interest, including aggregated indirect balances such as 62,895.872 shares and several trust-held positions described in the footnotes. The filing discloses that the shares were sold in multiple transactions within a price range of $138.28 to $138.39 and that the reporting person acts as trustee for multiple family trusts that hold HOV shares.

Hovnanian Enterprises, Inc. (HOV) filed a Form 144 reporting a proposed sale of 609 common shares. The sale is to be executed through Raymond James & Associates on the NYSE on 08/28/2025 with an aggregate market value listed at $85,028. The filer reports 6,411,000 shares outstanding. The securities were acquired by gift on 12/28/2010 from The Nadia K Rodrigues Trust and the filing states no securities were sold by the person in the past three months. The notice includes the signers representation that no undisclosed material adverse information about the issuer is known.

Hovnanian Enterprises filed an 8-K furnishing a press release reporting preliminary financial results for the fiscal third quarter and attaching that press release as Exhibit 99.1. The filing explains the use of several Non-GAAP Measures including homebuilding metrics that exclude land charges and interest amortized to cost of sales, and it describes Adjusted Investment as a measure intended to reflect inventory owned by the company while excluding off-balance-sheet inventory such as land banking. The company states that reconciliations for historical periods of these Non-GAAP Measures are included in the attached press release and warns that its calculations may differ from other companies, which can affect comparability.