Earnings summaries and quarterly performance for HOVNANIAN ENTERPRISES.
Executive leadership at HOVNANIAN ENTERPRISES.
Board of directors at HOVNANIAN ENTERPRISES.
Research analysts who have asked questions during HOVNANIAN ENTERPRISES earnings calls.
Alan Ratner
Zelman & Associates
3 questions for HOV
Also covers: BZH, CCS, DHI +9 more
AB
Alex Barron
Housing Research Center
3 questions for HOV
Also covers: BZH, CCS, DHI +9 more
JM
Jay McCanless
Wedbush Securities
3 questions for HOV
Also covers: BLDR, BZH, CCS +20 more
Natalie Kulasekere
Zelman & Associates
2 questions for HOV
Also covers: BZH, CCS
JH
Jordon Hymowitz
Philadelphia Financial
1 question for HOV
Also covers: AGO, CACC, CXW +2 more
Recent press releases and 8-K filings for HOV.
Hovnanian Enterprises Subsidiary Signs MoU for Tourism and Residential Projects in KAEC
HOV
New Projects/Investments
- K. Hovnanian M.E. Investments (KHME), a subsidiary of Hovnanian Enterprises, signed a Memorandum of Understanding (MoU) with the Tourism Development Fund (TDF) and Emaar, The Economic City (EEC) to enable high-quality tourism investment and lifestyle-focused residential opportunities in King Abdullah Economic City (KAEC).
- The partnership's initial focus is a landmark development on the Red Sea beaches and Marina Canal within KAEC, featuring branded private residences, two planned five-star hotels, and a central beach club, wellness, and spa center.
- Al Tahaluf Real Estate, of which KHME is the majority shareholder, also anticipates launching , a collection of 340 private residences, in early 2026.
- This strategic collaboration aims to advance globally competitive tourism, hospitality, and branded residential developments, strengthening KAEC's position as a premier coastal lifestyle destination.
3 days ago
Hovnanian Enterprises Reports Q4 2025 Net Loss and Provides Q1 2026 Revenue Guidance
HOV
Earnings
Guidance Update
Demand Weakening
- Hovnanian Enterprises reported a net loss for the fourth quarter ended October 31, 2025, with revenues dropping to approximately $817.9 million from $979.6 million year-over-year.
- The company provided revenue guidance for the first quarter of fiscal 2026, expecting between $550 million and $650 million, with margins anticipated to bottom out.
- Despite beating the Zacks consensus earnings estimate for Q4 2025, the company's stock price decreased by over 16% and has significantly underperformed the S&P 500 in 2025.
- There are discrepancies in reported net loss amounts and earnings per share figures for Q4 2025 across different sources.
Dec 4, 2025, 5:29 PM
Hovnanian Enterprises Reports Q4 2025 Results and Provides Q1 2026 Guidance
HOV
Earnings
Guidance Update
Demand Weakening
- Hovnanian Enterprises reported Q4 2025 revenues of $818 million with an adjusted gross margin of 16.3%, and adjusted pre-tax income was $49 million.
- For Q1 2026, the company forecasts revenues between $550 million and $650 million and an adjusted gross margin of 13%-14%, expecting margins to bottom in Q1 2026 before gradually improving.
- The company prioritizes sales pace over price, utilizing mortgage rate buy-downs (accounting for 12.2% of average sales price in Q4 2025) to move through older, lower-margin inventory and acquire new land with higher return potential.
- Hovnanian significantly improved its balance sheet, with net debt to capital reducing to 44.2% from 146.2% at the start of fiscal 2020, and completed a refinancing making most debt unsecured.
- The company maintains a land-light strategy with 85% of lots controlled via option and achieved a 102% backlog conversion ratio in Q4 2025, reflecting efficient inventory management.
Dec 4, 2025, 4:00 PM
Hovnanian Enterprises Reports Q4 2025 Results and Provides Q1 2026 Guidance
HOV
Earnings
Guidance Update
Debt Issuance
- Hovnanian Enterprises reported Q4 2025 revenues of $818 million and an adjusted gross margin of 16.3%, with adjusted EBITDA reaching $89 million and adjusted pre-tax income at $49 million.
- The company provided Q1 2026 guidance, projecting total revenues between $550 million and $650 million, an adjusted gross margin of 13%-14%, and adjusted pre-tax income between $10 million and $20 million.
- Management expects gross margins to bottom in Q1 2026 and gradually improve in subsequent quarters, driven by working through older, lower-margin lots and bringing on newer land acquisitions underwritten with higher incentives.
- HOV completed a significant refinancing in Q4 2025, making all debt (except the revolving credit facility) unsecured, and reduced net debt to capital to 44.2% from 146.2% at the start of fiscal 2020, with a target of 30%.
- The company continues to prioritize sales pace over price, utilizing mortgage rate buy-downs (accounting for 12.2% of average sales price in Q4 2025) and maintaining a high inventory of quick-moving homes (QMIs) to drive sales and clear older inventory.
Dec 4, 2025, 4:00 PM
Hovnanian Enterprises Announces Q4 2025 Results and Q1 2026 Guidance
HOV
Earnings
Guidance Update
Demand Weakening
- Hovnanian Enterprises reported $818 million in Total Revenues for Q4 2025, exceeding the midpoint of its guidance, with an Adjusted Homebuilding Gross Margin of 16.3% and Adjusted EBITDA of $89 million. These figures represent a year-over-year decline from Q4 2024, where Total Revenues were $980 million and Adjusted Gross Margin was 21.7%.
- For Q1 2026, the company anticipates Total Revenues to be between $550 million and $650 million, Adjusted Homebuilding Gross Margin between 13.0% and 14.0%, and Adjusted Income Before Income Taxes between $10 million and $20 million.
- As of October 31, 2025, Hovnanian maintained a liquidity position with $279 million in Homebuilding Cash and $125 million in Revolver Availability. Total Debt stood at $930 million, and the Net Debt to Net Capitalization ratio was 44.2%.
- Operational trends for Q4 2025 showed a decrease in contracts to 1,450 from 1,571 in Q4 2024. The percentage of incentives for deliveries increased to 12.2% in Q4 2025, up from 8.5% in Q4 2024.
Dec 4, 2025, 4:00 PM
Hovnanian Enterprises Reports Q4 and Fiscal Year 2025 Results, Provides Q1 2026 Guidance, and Completes Debt Refinancing
HOV
Earnings
Guidance Update
Debt Issuance
- Hovnanian Enterprises, Inc. reported a net loss of $0.7 million, or $0.51 per diluted common share, for the fourth quarter of fiscal 2025, compared to net income of $94.3 million, or $12.79 per diluted common share, in the same period of the prior fiscal year. For the full fiscal year 2025, net income was $63.9 million, or $7.43 per diluted common share, down from $242.0 million, or $31.79 per diluted common share, in fiscal 2024.
- Total revenues for Q4 fiscal 2025 were $817.9 million, within the company's guidance range, compared with $979.6 million in the prior year's fourth quarter. For the fiscal year ended October 31, 2025, total revenues were $2.98 billion, compared with $3.00 billion in fiscal 2024.
- The company successfully completed a $900 million unsecured debt refinancing, extending maturities until 2031 and 2033, which is expected to result in a $12 million decrease in annual interest incurred. This transaction simplified the capital structure by replacing multiple tiers of secured debt with unsecured notes.
- For the first quarter of fiscal 2026, Hovnanian Enterprises, Inc. expects total revenues to be between $550 million and $650 million, and adjusted EBITDA to be between $35 million and $45 million.
Dec 4, 2025, 3:04 PM
HOVNANIAN ENTERPRISES INC details 8.000% Senior Notes due 2031 and Senior Credit Facility amendment
HOV
Debt Issuance
Dividends
Share Buyback
- HOVNANIAN ENTERPRISES, INC. has detailed the terms of its 8.000% Senior Notes due 2031, with the principal payable on April 1, 2031, and semi-annual interest payments commencing April 1, 2026.
- The company's $125,000,000 Senior Credit Facility was amended on September 10, 2025.
- The Issuer holds optional redemption rights for the Senior Notes starting April 1, 2028, at redemption prices of 104.000% in 2028, 102.000% in 2029, and 100.000% in 2030 and thereafter.
- Additionally, up to 40% of the aggregate principal amount of the Notes can be redeemed with net cash proceeds from an Equity Offering at 108.000% on or prior to April 1, 2028, provided at least 50% of the original principal amount remains outstanding.
- Annual limitations on restricted payments include up to $10.0 million for capital stock repurchases and up to $11.0 million for preferred stock dividends, subject to a Consolidated Fixed Charge Coverage Ratio of at least 1.50 to 1.00.
Sep 25, 2025, 8:05 PM
Hovnanian Enterprises, Inc. Prices Senior Notes Offering
HOV
Debt Issuance
- Hovnanian Enterprises, Inc. (HOV) announced the pricing of $450 million aggregate principal amount of 8.000% Senior Notes due 2031 and $450 million aggregate principal amount of 8.375% Senior Notes due 2033 by its wholly-owned subsidiary, K. Hovnanian Enterprises, Inc..
- The net proceeds from this offering are intended to fund the redemption of its entire outstanding principal amount of 8.0% Senior Secured 1.125 Lien Notes due 2028 and 11.75% Senior Secured 1.25 Lien Notes due 2029, and to repay in full all outstanding loans under its Senior Secured 1.75 Lien Term Loan Facility due 2028.
- The sale of these Notes is expected to be consummated on or about September 25, 2025.
Sep 11, 2025, 8:28 PM
Hovnanian Subsidiary Prices $900 Million Senior Notes Offering
HOV
Debt Issuance
- K. Hovnanian Enterprises, Inc., a wholly owned subsidiary of Hovnanian Enterprises, Inc., priced an offering of $450 million aggregate principal amount of 8.000% Senior Notes due 2031 and $450 million aggregate principal amount of 8.375% Senior Notes due 2033.
- The total offering amount is $900 million in a private placement, with the notes guaranteed by the Company and its subsidiaries.
- The net proceeds are intended to fund the redemption of its 8.0% Senior Secured 1.125 Lien Notes due 2028 and 11.75% Senior Secured 1.25 Lien Notes due 2029, and to repay in full its Senior Secured 1.75 Lien Term Loan Facility due 2028.
- The sale of the Notes is expected to be consummated on or about September 25, 2025.
Sep 11, 2025, 8:15 PM
Hovnanian Enterprises Inc. Discusses Q3 Performance, Q4 Outlook, and Strategic Shifts
HOV
Guidance Update
Debt Issuance
Demand Weakening
- Hovnanian Enterprises Inc. reported Q3 revenues up 11% year-over-year, though gross margins were down almost 500 basis points due to mortgage rate buy-down incentives. For Q4, the company expects revenues to be similar to Q3, gross margins to decline further, and adjusted EBITDA to be between $77 million and $87 million.
- The company has significantly improved its balance sheet, reducing debt-to-cap from 146-150% in 2020 to 47.9% by the end of the most recent quarter. Hovnanian plans to refinance its secured debt into unsecured debt within the next 12 months to reduce borrowing costs and simplify its debt structure.
- Hovnanian has strategically shifted to an asset-light model, with 86% of its lots now controlled by option, up from under 50% in 2015. Additionally, 80% of its sales are now "spec homes" (quick move-in homes), enabling the company to offer mortgage rate buy-downs and maintain sales pace despite market volatility.
Aug 27, 2025, 8:50 PM
Quarterly earnings call transcripts for HOVNANIAN ENTERPRISES.
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