Hovnanian Enterprises

Hovnanian Enterprises, Inc. is a homebuilding company, which engages in the design, construction, and marketing of single-family attached town homes, attached townhomes and condominiums, urban infill, and lifestyle homes in planned residential developments. It operates through the following segments: Northeast, Southeast, and West. The Northeast segment consists of Delaware, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, Virginia, and West Virginia. The Southeast segment focuses on Florida, Georgia, and South Carolina. The West segment includes Arizona, California, and Texas. The company was founded by Kevork S. Hovnanian in 1959 and is headquartered in Matawan, NJ.

Earnings data Q2 2024

Hovnanian Enterprises surpasses Q2 guidance, eyes refinancing opportunities

Hovnanian Enterprises delivered strong financial results, exceeding guidance and showing improvement in key metrics. The company's proactive approach to debt reduction and liquidity, along with its focus on quick move-in homes, positions it well for future opportunities.

HOV reports strong Q2 performance and optimistic outlook for future

HOV's Q2 earnings call highlights strong performance, positive customer response, and improved financial guidance for fiscal '23. While challenges related to external factors exist, the company remains optimistic about its outlook and anticipates continued positive news in the future.

Hovnanian Enterprises Surpasses Guidance, Eyes Aggressive Growth Amid Market Challenges

Hovnanian Enterprises reported impressive financial results for Q3 2023, surpassing guidance and demonstrating resilience in the face of market challenges. The company's focus on QMI sales and strong liquidity position bode well for future growth, despite uncertainties related to market volatility and mortgage rate fluctuations.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Hovnanian Enterprises, Inc. is a homebuilding company, which engages in the design, construction, and marketing of single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes in planned residential developments. It operates through the following segments: Northeast, Southeast, and West. The Northeast segment consists of Delaware, Maryland, New Jersey, Ohio, Pennsylvania, Virginia, and West Virginia. The Southeast segment focuses on Florida, Georgia, and South Carolina. The West segment includes Arizona, California, and Texas. The company was founded by Kevork S. Hovnanian in 1959 and is headquartered in Matawan, NJ.

Beazer Homes USA

Century Communities

Dream Finders Homes

D.R. Horton

Green Brick Partners

Lennar

LGI Homes

Landsea Homes

M/I Homes

Smith Douglas Homes Corp

Taylor Morrison Home

Toll Brothers

TRI Pointe Group

Charts indicate the boom in homebuilding stocks is over, or at least pausing.

Homebuilder Rally Faces Reckoning As Stocks Bog Down — Should Investors Sell?

Hovnanian Enterprises, Inc. Pfd Shs Series A

Hovnanian Enterprises is a homebuilder in the United States, offering various types of residential homes. The company ranks among the largest homebuilding companies in the U.S. with revenues of $2.76b. Here I review both the issuer and the issue. The preferred stock issued by Hovnanian Enterprises, HOVNP, has a low coverage and non-cumulative dividends, causing losses for investors. While the yield is over 10%, a CCC rating would scare most investors. Its non-cumulative feature burned investors. While high risk-takers might own, the rest should take a pass!

Hovnanian Enterprises Preferred Stock Diversity Comes With Risks

AG Mortgage Investment Trust

Oxford Lane Capital

Oxford Lane Capital Corp 6.75 % Cum Red Pfd Shs Series -2024-

Oxford Lane Capital Corp 7 1/2 % Term Cum Pfd Shs Series -2023-

WhiteHorse Finance

Preferreds were slightly lower this week and over February, with caution required for stocks trading above "par". The fixed-income version of the "beta anomaly" shows that the yield differential between bonds and preferreds may be too low. We highlight recent issuances from HOV and MITT.

Preferreds Weekly Review: Yield Differential Between Bonds And Preferreds Often Too Tight

When it comes to investing in micro-cap stocks, it can sometimes be a real challenge to distinguish the potential winners from those that might not offer much near-term upside. However, a great way to uncover some possible leads is at conferences where investors can meet with the management teams of these smaller companies.

Stock ideas from the 2024 Microcap Conference

Hovnanian Enterprises, Inc. (HOV) Q1 2024 Earnings Call Transcript

Net Contracts per Community Increased 48% Year-Over-Year Income Before Income Taxes Increased 80% Year-Over-Year $230 Million was the Highest Quarterly Land and Land Development Spend in 57 Quarters 15% Year-Over-Year Growth in Total Revenues

Hovnanian Enterprises Reports Fiscal 2024 First Quarter Results

MATAWAN, N.J., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, will release financial results for the first quarter ended January 31, 2024, the morning of Thursday, February 22, 2024. The Company will webcast its first quarter earnings conference call at 11:00 a.m. (ET) on Thursday, February 22, 2024.

Hovnanian Enterprises Announces First Quarter Fiscal 2024 Earnings Release and Conference Call

NEW YORK--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces its investigation of Hovnanian Enterprises, Inc. (NYSE: HOV) concerning the Company and its directors' and officers' possible violations of state laws. If you own Hovnanian Enterprises stock, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Tom Kennedy, of GPM, 230 Park Avenue, Suite 358, New York, N.

Glancy Prongay & Murray LLP Announces Investigation of Hovnanian Enterprises, Inc. (HOV)

Opendoor

Rocket Companies, Inc.

Real estate is in a complicated position right now. On the one hand, it appears that interest rates have already peaked for this cycle and are set to start declining in the coming months.

The Housing Hiccup: 3 Stocks to Sell as the Real Estate Market Cools

STUART, Fla., Jan. 15, 2024 (GLOBE NEWSWIRE) -- K.

K. Hovnanian®️ Introduces Salerno Reserve, a New LOOKS Community in Stuart, FL

BALTIMORE, Dec. 14, 2023 (GLOBE NEWSWIRE) -- K. Hovnanian Homes introduces Locke Landing, a new community of townhomes within the mixed-use development Baltimore Peninsula.

K. Hovnanian®️ Introduces Locke Landing, a New LOOKS Community in Baltimore, MD

FREDERICKSBURG, Va., Dec. 13, 2023 (GLOBE NEWSWIRE) -- K. Hovnanian️ Homes introduces The Grove at Jackson Village, an 850-unit townhome community in Fredericksburg. This community offers LOOKS: a designer-curated collection of beautiful interiors. Buyers can choose between Loft, Farmhouse, Classic or Elements LOOKS, and enjoy cohesive style without the stress.

K. Hovnanian® Introduces The Grove at Jackson Village, a New LOOKS Community in Fredericksburg, VA

Watsco

This homebuilder stock hit a 52-week high on Friday and topped a buy zone. An air conditioning and heating stock also hit a buy point on Friday.

These Two Players In Home Construction Are Reaching New Highs

FAR HILLS, N.J., Dec. 07, 2023 (GLOBE NEWSWIRE) -- K. Hovnanian Homes introduces Enclave at Hillandale, a new boutique townhome community in Mendham Township, which offers LOOKS: a designer-curated collection of beautiful interiors. Buyers can choose between Loft, Farmhouse, or Classic LOOKS, and enjoy cohesive style without the stress.

K. Hovnanian® Introduces Enclave at Hillandale, a New LOOKS Community in Morris County

Hovnanian Enterprises, Inc. (NYSE:HOV ) Q4 2023 Earnings Conference Call December 5, 2023 11:00 AM ET Company Participants Ara Hovnanian - Chairman, President, Chief Executive Officer Brad O'Connor - Chief Financial Officer, Treasurer David Mitrisin - Vice President, Corporate Controller Jeff O'Keefe - Vice President, Investor Relations Conference Call Participants Alan Ratner - Zelman Operator Good morning, and thank you for joining us today for Hovnanian Enterprises' Fiscal 2023 Fourth Quarter Earnings Conference Call. An archive for the webcast will be available after the completion of the call and run for 12 months.

Hovnanian Enterprises, Inc. (HOV) Q4 2023 Earnings Call Transcript

$121 million of Quarterly Pretax Income Best in More Than 16 Years Net Contracts per Community Increased 66% Year-Over-Year Book Value Rose 80% Year-Over-Year to $73 per Share Refinanced Over $600 Million of Secured Debt, Extending Maturities Until the Fourth Quarters of 2028 and 2029, Including $114 Million of Bond Redemptions that Occurred after the Quarter End Total Liquidity Climbed to $564 Million, the Highest in More Than 14 Years Provided Guidance for a Significant Year-Over-Year Profit Increase in the First Quarter

Hovnanian Enterprises Reports Fiscal 2023 Fourth Quarter and Full Year Results

MATAWAN, N.J., Nov. 21, 2023 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, will release financial results for the fourth quarter and fiscal year ended October 31, 2023, the morning of Tuesday, December 5, 2023. The Company will webcast its fourth quarter earnings conference call at 11:00 a.m. (ET) on Tuesday, December 5, 2023.

Hovnanian Enterprises Announces Fiscal Year 2023 Earnings Release and Conference Call

K. Hovnanian Homes'® New Jersey Division was recently honored by the U.S. Department of Energy for achievements in energy-efficient new home construction.

K. Hovnanian️ Recognized with U.S. Department of Energy's Grand Award, Housing Innovation Award for Zero Energy Ready Homes

Built Most Zero Energy Ready Homes in United States Housing Innovation Award for Energy Efficiency

Hovnanian Enterprises Receives Two U.S. Department Of Energy 2023 Awards For Building Energy Efficient Homes

Hovnanian Enterprises has demonstrated operational resilience despite rising mortgage rates, making it an attractive investment opportunity. HOV has a rich history in the U.S. homebuilding sector since 1959, offering diverse residential options and emphasizing customer experience. The Hovnanian family's control over the company and HOV's financial indebtedness are significant factors influencing its depressed stock price.

Hovnanian's Valuation, Ownership, And Debt Concerns: Is It A Viable Investment?

RED BANK, N.J., Sept. 27, 2023 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, announced that senior management will be presenting at Deutsche Bank's 31st Annual Leveraged Finance Conference on Wednesday, October 4, 2023 at 11:00 a.m. ET.

Hovnanian Enterprises to Present at Deutsche Bank's 31st Annual Leveraged Finance Conference

MATAWAN, N.J., Sept. 25, 2023 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV) (the “Company”), a leading national homebuilder, announced today that it has entered into an agreement with existing investors to consummate a refinancing transaction that extends the maturities of over $600 million of the Company's secured debt to the fourth quarters of fiscal 2028 and fiscal 2029. Additionally, it has entered into an agreement with existing lenders to amend and extend its $125 million secured revolving credit facility to mature in June 2026.

Hovnanian Enterprises Announces Refinancing Transaction

Hovnanian Enterprises, Inc. (NYSE:HOV ) Q3 2023 Earnings Conference Call August 30, 2023 11:00 AM ET Company Participants Jeff O'Keefe - Vice President, Investor Relations Ara Hovnanian - Chairman, President and Chief Executive Officer Brad O'Connor - Chief Accounting Officer and Treasurer Conference Call Participants Alan Ratner - Zelman & Associates Operator Good morning, and thank you for joining us today for Hovnanian Enterprises Fiscal 2023 Third Quarter Earnings Conference Call. An archive of the webcast will be available after the completion of the call and run for 12 months.

Hovnanian Enterprises, Inc. (HOV) Q3 2023 Earnings Call Transcript

81% Year over Year Increase in Net Contracts Net Contracts per Community Increased 92% Year over Year Homebuilding Gross Margin Percentage Improved Sequentially by 230 Basis Points 53% Sequential Growth in Income Before Income Taxes Redeemed in August $100 Million of Principal Amount of 7.75% Senior Secured Notes Due February 2026 Increased Full Year Guidance

Hovnanian Enterprises Reports Fiscal 2023 Third Quarter Results

MATAWAN, N.J., Aug. 16, 2023 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, will release financial results for the third quarter ended July 31, 2023, the morning of Wednesday, August 30, 2023. The Company will webcast its third quarter earnings conference call at 11:00 a.m. (ET) on Wednesday, August 30, 2023.

News for Hovnanian Enterprises Stock (HOV)