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 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

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Earnings data Q4 2024

Earnings data Q1 2025

Hovnanian Enterprises anticipates improved performance despite Q1 revenue decline

Hovnanian Enterprises faced revenue decline in Q1 2023 due to economic challenges but expects better performance ahead. Strong website visits and increased contracts per community signal positive momentum. The company is addressing challenges like lower margins on QMIs and sees opportunities in improving sales strategies.

Hovnanian Enterprises surpasses Q2 guidance, eyes debt reduction and growth

Hovnanian Enterprises delivered a strong performance in Q2 2023, surpassing guidance and benefiting from strong demand for quick move-in homes. The company's emphasis on debt reduction, cash position, and tax strategies positions it well for future growth and financial stability.

Hovnanian Enterprises excels in Q3, eyes growth amid market challenges

Hovnanian Enterprises delivered a robust performance in Q3, surpassing financial targets and demonstrating operational resilience amidst market challenges.
While facing uncertainties related to interest rates and global events, the company's strategic focus on debt reduction and customer-centric offerings positions them for future growth.
With strong sales, healthy margins, and a positive outlook for '24, Hovnanian has the opportunity to capitalize on market dynamics and drive sustained profitability.
The company's emphasis on liquidity, debt reduction, and customer satisfaction underscores their commitment to financial stability, operational excellence, and long-term value creation.

Hovnanian Enterprises excels in Q4, eyes aggressive growth strategy

Hovnanian Enterprises reported robust financial performance, exceeding revenue guidance and showcasing strong demand.
The company's focus on quick move-in homes and incentives drove sales growth, with optimism for future quarters.
While challenges like rising mortgage rates and cost pressures exist, opportunities for growth and balance sheet improvement are evident.
Executives hint at an aggressive growth strategy, emphasizing the company's strong financial position compared to peers.

Hovnanian Enterprises excels in Q1 with revenue growth and profit surge

Hovnanian Enterprises delivered strong financial results in Q1 '24, driven by revenue growth, profit increase, and strategic sales initiatives. The company's focus on debt reduction, sales pace, and future market prospects positions it well for growth and profitability.

Hovnanian Enterprises surpasses Q2 expectations, eyes growth amidst valuation challenges

Hovnanian Enterprises delivered robust financial results, exceeding guidance across key metrics. Despite market valuation challenges, the company remains confident in its growth prospects and performance. Strong focus on sustainable growth strategies and cost management is driving positive momentum.

Hovnanian Enterprises surpasses Q3 expectations, eyes growth opportunities ahead

Hovnanian Enterprises delivered strong financial results in Q3 2024, exceeding expectations and showcasing growth potential.
While facing challenges in contract volatility and debt management, the company benefits from market demand and expansion opportunities.
Strategic initiatives like debt restructuring and stock buybacks position the company well for future growth and value creation.

Hovnanian Enterprises reports robust Q4 results amidst operational challenges

Hovnanian Enterprises delivered strong financial performance in Q4 2024, with revenue growth, despite facing operational challenges from natural disasters.
The company's strategic focus on sales pace and growth bodes well for future expansion and shareholder returns, underlining a commitment to long-term success.
While challenges like weather disruptions impacted Q4, Hovnanian's growth plans and market opportunities position it for continued success and resilience.

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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.

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Despite new home sales decline in October, the housing industry remains on growth trajectory.

US Housing Looks Good Despite October's New Home Sales Dip

MATAWAN, N.J., Nov.  21, 2019  (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV) (the “Company”) announced today that its wholly-owned subsidiary, K. Hovnanian Enterprises, Inc. (the “Issuer”), has amended certain terms of its previously announced offers to exchange (the “Exchange Offers”) its outstanding 10.000% senior secured notes due 2022 (the “Old 2022 Notes”) and outstanding 10.500% senior secured notes due 2024 (the “Old 2024 Notes” and, together with the Old 2022 Notes, the “Old Notes”) for up to $240,000,000 aggregate principal amount (the “New Notes Cap”) of 10.000% 1.75 Lien Notes due 2025 (the “New 2025 Notes”) to be issued by the Issuer and guaranteed by the Company and substantially all of its subsidiaries, other than the Issuer, its home mortgage subsidiaries, certain of its title insurance subsidiaries, joint ventures and subsidiaries holding interests in joint ventures (collectively, the “Guarantors”) and related solicitations of consents from holders of the Old Notes to certain proposed amendments to the indenture governing the Old Notes (the “Consent Solicitations”), which Exchange Offers and Consent Solicitations are being made on the terms and subject to the conditions set forth in the Confidential Offering Memorandum and Consent Solicitation Statement, dated November 4, 2019 (as amended by the Confidential Supplement, dated November 21, 2019, and as may be further amended or supplemented from time to time, the “Offering Memorandum”). Additionally, the Company and the Issuer announced today that the early participation date had passed and the withdrawal deadline had expired for the Exchange Offers at 5:00 p.m., New York City time, on November 18, 2019.

K. Hovnanian Enterprises, Inc. Announces Amendments To Exchange Offers And Consent Solicitations

MATAWAN, N.J., Nov.  05, 2019  (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV) (the “Company”) announced today that its wholly-owned subsidiary, K. Hovnanian Enterprises, Inc. (the “Issuer”), has commenced (i) a private offer to exchange (the “Old 2022 Notes Exchange Offer”) the Issuer’s 10.000% Senior Secured Notes due 2022 (the “Old 2022 Notes”) and (ii) a private offer to exchange (the “Old 2024 Notes Exchange Offer” and, together with the “Old 2022 Notes Exchange Offer,” the “Exchange Offers”) the Issuer’s 10.500% Senior Secured Notes due 2024 (the “Old 2024 Notes” and, together with the Old 2022 Notes, the “Old Notes”) for up to $240.0 million aggregate principal amount of the Issuer’s newly issued 10.000% 1.75 Lien Notes due 2025 (the “New 2025 Notes”). In conjunction with the Exchange Offers, the Issuer is soliciting (i) consents (the “Old 2022 Notes Consents”) to proposed amendments from the holders of the Old 2022 Notes (the “Old 2022 Notes Consent Solicitation”) to the indenture, dated as of July 27, 2017 (as amended and supplemented prior to the proposed amendments, the “Old Notes Indenture”), among the Issuer, the Company and the other guarantors parties thereto and Wilmington Trust, National Association, as trustee and as collateral agent, providing for, among other matters, the elimination of most of the restrictive covenants, certain of the affirmative covenants and certain of the events of default contained in the Old Notes Indenture applicable to the Old 2022 Notes (the “Old 2022 Notes Proposed Amendments”) and (ii) consents (the “Old 2024 Notes Consents” and, together with the Old 2022 Notes Consents, the “Old Notes Consents”) to proposed amendments from the holders of the Old 2024 Notes (the “Old 2024 Notes Consent Solicitation” and, together with the Old 2022 Notes Consent Solicitation, the “Consent Solicitations”) to the Old Notes Indenture providing for, among other matters, the elimination of most of the restrictive covenants, certain of the affirmative covenants and certain of the events of default contained in the Old Notes Indenture applicable to the Old 2024 Notes (the “Old 2024 Notes Proposed Amendments” and, together with the Old 2022 Notes Proposed Amendments, the “Proposed Amendments”). Holders of Old Notes may not consent to the applicable Proposed Amendments without tendering their Old Notes in the applicable Exchange Offer and holders of Old Notes may not tender their Old Notes in the applicable Exchange Offer without consenting to the applicable Proposed Amendments with respect to such Old Notes. The Exchange Offers and Consent Solicitations are being made on the terms and subject to the conditions set forth in a Confidential Offering Memorandum and Consent Solicitation Statement, dated November 4, 2019 (as it may be amended or supplemented from time to time, the “Offering Memorandum”).

K. Hovnanian Enterprises, Inc. Announces Exchange Offers and Consent Solicitations

Hovnanian Enterprises, Inc. Pfd Shs Series A

MATAWAN, N.J., Oct.  31, 2019  (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE:HOV) (“Hovnanian” or the “Company”) announced today that it has closed several refinancing transactions that extend the maturities of over $700 million of the Company’s debt, including addressing all near-term maturities through 2021, as well as proactively extending approximately 50% of its upcoming maturities in 2022 and 2024. Additionally, the Company refinanced its $125 million secured revolving credit facility, which had revolving commitments terminating in December 2019, to a new secured revolving credit facility (the “New Revolver”) maturing in 2022.

Hovnanian Enterprises Completes Refinancing Transactions

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Hovnanian Enterprises, Inc. (HOV) CEO Ara Hovnanian on Q3 2019 Results - Earnings Call Transcript

Total Revenues Increased 6% Year-over-Year  12% Year-over-Year Expansion in Consolidated Community Count  Consolidated Contracts Grew 23% Year-over-Year  12% Year-over-Year Increase in  Consolidated Contract Backlog  10% Year-over-Year Growth in Consolidated Contracts Per Community

Hovnanian Enterprises Reports Fiscal 2019 Third Quarter Results

Hovnanian Enterprises (NYSE: HOV) releases its next round of earnings this Thursday, September 5.

Hovnanian Enterprises Q3 Earnings Preview

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Homebuilding Outlook: Low Rates, Solid Job Market Raise Hope

Shares of Hovnanian Enterprises Inc. plunged 14% in afternoon trading Thursday, after the home builder disclosed that it received a de-listing warning from the New York Stock Exchange, citing the market capitalization listing standard.

Hovnanian's stock tumbles after disclosure of NYSE delisting notice

As of late, it has definitely been a great time to be an investor in Hovnanian Enterprises, Inc. (HOV).

Hovnanian Enterprises, Inc. (HOV) Shares March Higher, Can It Continue?

A turnaround is finally showing signs of happening, but investors have lost all patience, and Hovnanian's market cap suggests it will go bankrupt soon.

Hovnanian: A Risky Homebuilder Changing Its Ways

Hovnanian Enterprises, Inc. (HOV) CEO Ara Hovnanian on Q2 2019 Results - Earnings Call Transcript

The popular rating by analysts on Hovnanian stock is a Sell.

Hovnanian Enterprises Q2 Earnings Preview

Hovnanian Enterprises Inc. is doing everything it can to stay listed on the New York Stock Exchange. The company has executed the dreaded reverse stock split to keep its shares afloat on the index.

News for Hovnanian Enterprises Stock (HOV)