HOVNP

EX-99.1

7 ex991_1.htm

EXHIBIT 99.1

HOVNANIAN ENTERPRISES, INC

Exhibit 99.1

HOVNANIAN ENTERPRISES, INC.

News Release

Contact:

Brad G. O’Connor

Jeffrey T. O’Keefe

Chief Financial Officer

Vice President, Investor Relations

732-747-7800

732-747-7800

HOVNANIAN ENTERPRISES REPORTS FISCAL 2026 THIRD QUARTER RESULTS

Met or Exceeded Guidance on Nearly All Metrics Provided

Gross Margins Improved Sequentially for Second Quarter in a Row

The Dollar Value of Consolidated Domestic Backlog Increased 5% Year Over Year

MATAWAN, NJ, August 20, 2026 – Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal third quarter and nine months ended July 31, 2026.

RESULTS FOR THE THREE-MONTH AND NINE-MONTH PERIODS ENDED JULY 31, 2026:

         Total revenues were $705.7 million in the third quarter of fiscal 2026, which was within the guidance range we provided, compared with $800.6 million in the same quarter of the prior year. For the nine months ended July 31, 2026, total revenues were $2.01 billion compared with $2.16 billion in the first nine months of fiscal 2025.

         Domestic unconsolidated joint ventures sale of homes revenues for the third quarter of fiscal 2026 was $155.6 million (225 homes) compared with $165.0 million (245 homes) for the three months ended July 31, 2025. For the first nine months of fiscal 2026, domestic unconsolidated joint ventures sale of homes revenues was $353.9 million (524 homes) compared with $441.2 million (649 homes) in the nine months ended July 31, 2025.

         Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 11.8% for the three months ended July 31, 2026, compared with 11.7% during the third quarter a year ago. In the first nine months of fiscal 2026, homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 10.8% compared with 13.5% in the same period of the prior fiscal year.

         Homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 14.6% during the fiscal 2026 third quarter, which was within the guidance range we provided, compared with 17.3% in last year’s third quarter. For the second quarter in a row, gross margins, on both a GAAP and non-GAAP basis, improved sequentially in the third quarter as margins rebounded from the first‑quarter trough. For the nine months ended July 31, 2026, homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 14.2% compared with 17.6% in the first nine months of the previous fiscal year.

         Total SG&A was $86.9 million, or 12.3% of total revenues, in the third quarter of fiscal 2026, which was better than the guidance range we provided, compared with $90.8 million, or 11.3% of total revenues, in the third quarter of fiscal 2025. Total SG&A was $254.9 million, or 12.7% of total revenues, in the first nine months of fiscal 2026 compared with $258.3 million, or 12.0% of total revenues, in the first nine months of the previous fiscal year.

         Total interest expense was $30.5 million, or 4.3% of total revenues, for the third quarter of fiscal 2026, compared with $34.0 million, or 4.2% of total revenues, for the third quarter of fiscal 2025. For the nine months ended July 31, 2026, total interest expense was $87.7 million, or 4.4% of total revenues, compared with $92.0 million, or 4.3% of total revenues, in the first nine months of the previous fiscal year.

         Loss before income taxes for the third quarter of fiscal 2026 was $2.8 million compared with income of $23.8 million in the third quarter of the prior fiscal year. For the first nine months of fiscal 2026, income before income taxes was $26.3 million compared with $90.2 million during the first nine months of the prior fiscal year.

         Loss before income taxes, excluding land-related charges, was $2.3 million in the third quarter of fiscal 2026, compared with income before these items of $39.8 million in the third quarter of fiscal 2025. For the nine months ended July 31, 2026, income before income taxes excluding land-related charges and gain on extinguishment of debt, net was $37.9 million compared with income before these items of $109.9 million in the same period of fiscal 2025.

         Net loss available to common stockholders was $4.5 million, or $0.70 per diluted common share, for the three months ended July 31, 2026, compared with net income available to common stockholders of $13.9 million, or $1.99 per diluted common share, in the same period of the previous fiscal year. For the first nine months of fiscal 2026, net income available to common stockholders was $10.8 million, or $1.55 per diluted common share, compared with net income available to common stockholders of $56.5 million, or $7.94 per diluted common share, during the first nine months of fiscal 2025.

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         EBITDA was $31.4 million for the th

EX-99.1

7 ex991_1.htm

EXHIBIT 99.1

Exhibit 99.1

HOVNANIAN ENTERPRISES, INC.

News Release

Contact:

Brad G. O’Connor

Jeffrey T. O’Keefe

Chief Financial Officer

Vice President, Investor Relations

732-747-7800

732-747-7800

HOVNANIAN ENTERPRISES REPORTS FISCAL 2026 SECOND QUARTER RESULTS

Met or Exceeded Guidance on Nearly All Metrics Provided

Gross Margins Improved Sequentially Following First Quarter Trough

2% Year-Over-Year Increase in Total Domestic Contracts

$442 Million of Total Liquidity Well in Excess of Our Target Range

MATAWAN, NJ, May 21, 2026 – Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal second quarter and six months ended April 30, 2026.

The Company is saddened by the passing of Edward A. Kangas, whose leadership and dedication to Hovnanian spanned many years. As our longest-serving independent director, Chair of the Audit Committee, and Lead Independent Director, Ed provided valued judgment, integrity, and steady guidance to our Board and management team. Beyond his many professional contributions, he was also a trusted friend who will be deeply missed by all who knew him. The Board of Directors and everyone at the Company extend their heartfelt condolences to his family.

RESULTS FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED APRIL 30, 2026:

         Totalrevenues were$667.6 million in thesecond quarter of fiscal 2026, which was within the guidance range we provided, compared with $686.5 million inthesame quarter of the prior year. For the six months ended April 30, 2026, total revenues were $1.30 billion compared with $1.36 billion in the first half of fiscal 2025.

         Domestic unconsolidated joint ventures sale of homes revenues for the second quarter of fiscal 2026was $125.9 million (181 homes) compared with $144.5 million (207 homes) for the three months ended April 30, 2025. For the first half of fiscal 2026, domestic unconsolidated joint ventures sale of homes revenues was $198.3 million (299 homes) compared with $276.3 million (404 homes) in the six months ended April 30, 2025.

         Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was10.2% forthethree months ended April 30, 2026,compared with13.8% during the second quartera year ago. In the first six months of fiscal 2026, homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 10.2% compared with 14.5% in the same period of the prior fiscal year.

         Homebuilding gross margin percentage, before cost of sales interest expense and land charges, was14.3%during the fiscal 2026second quarter, which was above the high end of the guidance range we provided, compared with 17.3% in last year’s second quarter. Gross margins on both a GAAP and non-GAAP basis improved sequentially in the second quarter as margins rebounded from the first quarter trough. For the six months ended April 30, 2026, homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 13.9% compared with 17.8% in the first six months of the previous fiscal year.

         Total SG&A was $84.0million, or12.6% of total revenues, in the second quarter of fiscal 2026, which was at the better end of the guidance range we provided, compared with $80.6million, or 11.7% of total revenues,in the second quarter of fiscal 2025. Total SG&A was $168.0 million, or 12.9% of total revenues, in the first six months of fiscal 2026 compared with $167.5 million, or 12.3% of total revenues, in the first half of the previous fiscal year.

         Total interest expensewas $28.5 million, or 4.3% of total revenues,for the second quarter of fiscal 2026, compared with $29.1 million, or 4.2% of total revenues,for thesecond quarter of fiscal 2025. For the six months ended April 30, 2026, total interest expense as a percent of total revenues was 4.4% compared with 4.3% in the first half of the previous fiscal year.

         Income before income taxes for the second quarter of fiscal 2026was$0.3millioncompared with$26.5million in thesecond quarter of the prior fiscal year. For the first half of fiscal 2026, income before income taxes was $29.0 million compared with $66.4 million during the first six months of the prior fiscal year.

         Income before income taxes,excluding land-related charges,was $9.1million in the second quarter of fiscal 2026, which was near the high end of the guidance range we provided, compared with income before these items of $29.2 million in the second quarter of fiscal 2025. For the six months ended April 30, 2026, income before income taxes excluding land-related charges and gain on extinguishment of debt, net was $40.2 million compared with income before these items of $70.1 million in the same period of fiscal 2025.

         Net losswas$0.6million, or $0.46per diluted common share, for the three months ended April 3

EX-99.1

7 ex991_1.htm

EXHIBIT 99.1

Exhibit 99.1

HOVNANIAN ENTERPRISES, INC.

News Release

Contact:

Brad G. O’Connor

Jeffrey T. O’Keefe

Chief Financial Officer

Vice President, Investor Relations

732-747-7800

732-747-7800

HOVNANIAN ENTERPRISES REPORTS FISCAL 2026 FIRST QUARTER RESULTS

Met or Exceeded All Guidance Metrics Provided

5% Year-Over-Year Increase in Domestic Consolidated Communities

$471 Million of Total Liquidity

Domestic Contracts, Including Unconsolidated Joint Ventures, Increased 11% Year-Over-Year for January and 13% for February to Date over the Same Period Last Year

MATAWAN, NJ, February 25, 2026 – Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal first quarter ended January 31, 2026.

RESULTS FOR THE THREE-MONTHS ENDED JANUARY 31, 2026:

Total revenues were $632.0 million in the first quarter of fiscal 2026, which was above the midpoint of the guidance range we provided, compared with $673.6 million in the same quarter of the prior year.

Domestic unconsolidated joint ventures sale of homes revenues for the first quarter of fiscal 2026 was $72.4 million (118 homes) compared with $131.8 million (197 homes) for the three months ended January 31, 2025.

Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 10.1% for the three months ended January 31, 2026, compared with 15.2% during the first quarter a year ago.

Homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 13.4% during the fiscal 2026 first quarter, which was within the guidance range we provided, compared with 18.3% in last year’s first quarter.

Total SG&A was $84.0 million, or 13.3% of total revenues, in the first quarter of fiscal 2026 compared with $86.9 million, or 12.9% of total revenues, in the first quarter of fiscal 2025.

Total interest expense was $28.7 million, or 4.5% of total revenues, for the first quarter of fiscal 2026, compared with $28.9 million, or 4.3% of total revenues, for the first quarter of fiscal 2025.

Income before income taxes for the first quarter of fiscal 2026 was $28.7 million compared with $39.9 million in the first quarter of the prior fiscal year.

Income before income taxes, excluding land-related charges, was $31.1 million in the first quarter of fiscal 2026, which was above the high end of the guidance range we provided, compared with income before these items of $40.9 million in the first quarter of fiscal 2025.

Net income was $20.9 million, or $2.62 per diluted common share, for the three months ended January 31, 2026, compared with net income of $28.2 million, or $3.58 per diluted common share, in the same period of the previous fiscal year.

EBITDA was $60.7 million for the first quarter of fiscal 2026 compared with $71.0 million for the first quarter of the prior year.

Adjusted EBITDA was $63.1 million for the quarter ended January 31, 2026, which was above the high end of the guidance range we provided, compared with $72.1 million in the first quarter of the prior fiscal year.

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Consolidated domestic contracts (1) in the first quarter of fiscal 2026 increased 3.1% to 1,242 homes ($664.8 million) compared with 1,205 homes ($643.3 million) in the same quarter last year. Domestic contracts, including domestic unconsolidated joint ventures, for the three months ended January 31, 2026, decreased 2.5% to 1,365 homes ($747.0 million) compared with 1,400 homes ($770.8 million) in the first quarter of fiscal 2025.

Consolidated domestic contracts, including unconsolidated joint ventures, for January 2026 increased 11.3% to 560 homes compared with 503 homes in January 2025. Consolidated domestic contracts, including unconsolidated joint ventures, month to date through February 23, 2026, increased 13.1% to 457 homes compared with 404 homes month to date through February 23, 2025.

As of January 31, 2026, the number of consolidated domestic communities increased by 4.8% to 131, compared with 125 communities as of January 31, 2025. Including domestic unconsolidated joint ventures, domestic community count grew by 2.0% to 151 as of January 31, 2026, up from 148 as of January 31, 2025.

Consolidated domestic contracts per community declined slightly year-over-year to 9.5 in the first quarter of fiscal 2026, compared to 9.6 in the same quarter of fiscal 2025. When including domestic unconsolidated joint ventures, domestic contracts per community decreased to 9.0 for the three months ended January 31, 2026, compared with 9.5 in the prior year period.

The dollar value of consolidated domestic contract backlog, as of January 31, 2026, decreased 16.0% to $782.7 million compared with $931.9 million as of January 31, 2025. The dollar value of domestic contract backlog, including domestic unconsolidated joint ventures, as of January 31, 2026, decreased 16.7% to $1.02 billion compared with $1.23 billion as of January 31, 2025. The year-over-year decrease