Hovnanian Enterprises, Inc. (HOV) is one of the largest builders of residential homes in the United States. The company designs, constructs, markets, and sells a variety of residential homes, including single-family detached homes, townhomes, and condominiums. Additionally, HOV provides mortgage financing and title services to its homebuilding customers.
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Homebuilding - Designs, constructs, markets, and sells residential homes, including single-family detached homes, attached townhomes, and condominiums. Operates in 130 communities across 27 markets in 13 states, targeting diverse customer bases such as first-time buyers, move-up buyers, and luxury buyers.
- Northeast - Includes operations in Delaware, Maryland, New Jersey, Ohio, Pennsylvania, Virginia, and West Virginia.
- Southeast - Includes operations in Florida, Georgia, and South Carolina.
- West - Includes operations in Arizona, California, and Texas.
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Financial Services - Provides mortgage loans and title services, offering interest rate buy-down programs and mortgage originations in every state where HOV operates.
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Corporate and Unallocated - Includes operations at the corporate level, such as administrative functions, contributing minimally to revenue.
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Name | Position | External Roles | Short Bio | |
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Ara K. Hovnanian ExecutiveBoard | Chairman of the Board, Chief Executive Officer, President, and Director | Ara K. Hovnanian has been with Hovnanian Enterprises since 1979, serving as Director from 1981, Executive Vice President from 1983, President since 1988, and CEO since July 1997. He was elected Chairman of the Board in November 2009, reflecting his long-standing leadership at the company. | View Report → | |
Alexander Hovnanian Executive | Executive Vice President, National Homebuilding Operations | Alexander Hovnanian joined HOV in 2012 and held various leadership roles, including Area President in November 2017 and Division President of the Northeast Division in December 2018 before becoming Executive Vice President, National Homebuilding Operations in March 2020. He is set to be appointed President effective November 1, 2025, while currently not serving on the Board of Directors. | ||
Brad G. O’Connor Executive | Chief Financial Officer | Brad G. O’Connor is the Chief Financial Officer of Hovnanian Enterprises since November 2023, having previously served as Senior Vice President and Treasurer since April 2020 and as Chief Accounting Officer from May 2011 to October 2023. | ||
Michael Wyatt Executive | Chief Operating Officer | Michael Wyatt is the Chief Operating Officer at HOV, effective November 1, 2025. He previously served as Group President and Region President, joining HOV as Division President in September 2015, and brings extensive homebuilding experience from his roles at Centex Corporation and PulteGroup, Inc.. |
- Based on your recent QMI sales success and the increased reliance on mortgage rate buydowns, how do you plan to mitigate the negative impact on your gross margins if the current sales pace does not improve?
- You mentioned that roughly 10% of your lots are from the '22 vintage and lower percentages from '21 on the West Coast; what specific timeline and strategies do you have in place to effectively burn through these vintages amid ongoing market challenges?
- With cost reductions yielding a 7% decrease in base construction cost per square foot since fiscal '23, what contingencies do you have if rising material costs, particularly lumber, begin to erode these savings in the latter half of the year?
- Given the dual approach of offering both mortgage rate buydowns and alternative price incentives, how do you ensure that these strategies do not further compress margins or confuse buyers in differing markets like Delaware or New Jersey?
- Considering the volatility in quarterly backlog conversion and the flat sales guidance for the next quarter, what measures are you taking to manage the inherent risks in your current QMI and incentive model to sustain profitability?
No recent press releases or 8-K filings found for HOV.