AI Earnings Predictions for Hovnanian Enterprises Inc Dep Shr Srs A Pfd (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.

1

         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.

1

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

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 FOURTH QUARTER AND FISCAL YEAR 2025 RESULTS

Met or Exceeded All Guidance Metrics Provided

8% Year-Over-Year Increase in Consolidated Communities

Successfully Completed $900 Million Unsecured Debt Refinancing Extending Maturities Until 2031 and 2033

Operating Performance Reflects a $34 Million Expense from Refinancing and $19 Million in Land Charges

MATAWAN, NJ, December 4, 2025 – Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal fourth quarter and year ended October 31, 2025.

RESULTS FOR THE THREE-MONTHS AND FULL YEAR ENDED OCTOBER 31, 2025:

Total revenues were $817.9 million in the fourth quarter of fiscal 2025, which was within the guidance range we provided, compared with $979.6 million in the same quarter of the prior year. For the year ended October 31, 2025, total revenues were $2.98 billion compared with $3.00 billion in fiscal 2024.

Domestic unconsolidated joint ventures (1) sale of homes revenues for the fourth quarter of fiscal 2025 increased 27.3% to $180.4 million (285 homes) compared with $141.7 million (235 homes) for the three months ended October 31, 2024. For fiscal 2025, domestic unconsolidated joint ventures sale of homes revenues increased 17.6% to $621.6 million (934 homes) compared with $528.6 million (803 homes) in the fiscal year ended October 31, 2024.

Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 10.7% (with 2.5% attributable to land charges) for the three months ended October 31, 2025, compared with 18.0% during the fourth quarter a year ago (with only 0.9% attributable to land charges). In fiscal 2025, homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 12.7% compared with 18.7% in the prior fiscal year.

Homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 16.3% during the fiscal 2025 fourth quarter, which was within the guidance range we provided, compared with 21.7% in last year’s fourth quarter. For the year ended October 31, 2025, homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 17.2% compared with 22.0% in the previous fiscal year.

Total SG&A was $91.5 million, or 11.2% of total revenues, in the fourth quarter of fiscal 2025 compared with $87.7 million, or 9.0% of total revenues, in the fourth quarter of fiscal 2024. Total SG&A was $349.8 million, or 11.7% of total revenues, in fiscal 2025 compared with $342.2 million, or 11.4% of total revenues, in the previous fiscal year.

1

Total interest expense as a percentage of total revenues increased to 4.2% for the fourth quarter of fiscal 2025, compared with 3.2% for the fourth quarter of fiscal 2024. The year-over-year increase in interest expense is primarily related to a few large communities in planning. For the year ended October 31, 2025, total interest expense as a percentage of total revenues was 4.2% compared with 4.0% in the previous fiscal year.

The company incurred losses related to the early extinguishment of debt and land charges of $52.9 million, contributing to a loss before income taxes for the fourth quarter of fiscal 2025 of $4.1 million compared with income before income taxes of $117.9 million in the fourth quarter of the prior fiscal year. For fiscal 2025, income before income taxes was $86.1 million compared with $317.1 million during the prior fiscal year.

Income before income taxes, excluding $19.4 million in land-related charges and a $33.5 million loss on extinguishment of debt related to our September 2025 debt refinancing, was $48.8 million in the fourth quarter of fiscal 2025, which was within the guidance range we provided, compared with income before these items of $125.8 million in the fourth quarter of fiscal 2024. For the year ended October 31, 2025, income before income taxes excluding land-related charges and loss (gain) on extinguishment of debt, net was $158.8 million compared with income before these items of $327.3 million in fiscal 2024.

Net loss was $0.7 million, or $0.51 per diluted common share, for the three months ended October 31, 2025, compared with net income of $94.3 million, or $12.79 per diluted common share, in the same period of the previous fiscal year. For fiscal 2025, net income was $63.9 million, or $7.43 per diluted common share, compared with net income of $242.0 million, or $31.79 per diluted common share, during fiscal 2024.

EBITDA was $35.7 million for the fourth quarter of fiscal 2025 compared with $151.0 million for the fourth quarter of the prior year. For fiscal 2025, EBITDA was $226.4 million compared with $445.4 million in the prior year. Reported EB

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 2025 THIRD QUARTER RESULTS

Total Revenues Increased 11% Year-Over-Year

Met or Exceeded All Guidance Metrics Provided

86% of Total Lots Are Optioned, Highest Percentage Ever

Second Highest TTM ROE Amongst Midsized Homebuilders

MATAWAN, NJ, August 21, 2025 – Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal third quarter and nine months ended July 31, 2025.

RESULTS FOR THE THREE-MONTH AND NINE-MONTH PERIODS ENDED JULY 31, 2025:

Total revenues increased 10.8% to $800.6 million in the third quarter of fiscal 2025, compared with $722.7 million in the same quarter of the prior year. For the nine months ended July 31, 2025, total revenues increased 6.7% to $2.16 billion compared with $2.03 billion in the first nine months of fiscal 2024.

Domestic unconsolidated joint ventures(1) sale of homes revenues for the third quarter of fiscal 2025 increased 9.3% to $165.0 million (245 homes) compared with $151.0 million (224 homes) for the three months ended July 31, 2024. For the first nine months of fiscal 2025, domestic unconsolidated joint ventures sale of homes revenues increased 14.0% to $441.2 million (649 homes) compared with $386.9 million (568 homes) in the nine months ended July 31, 2024.

Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 11.7% (with 2.1% attributable to land charges) for the three months ended July 31, 2025, compared with 19.1% during the third quarter a year ago (with only 0.1% attributable to land charges). In the first nine months of fiscal 2025, homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 13.5% compared with 18.9% in the same period of the prior fiscal year.

Homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 17.3% during the fiscal 2025 third quarter, which was within the guidance range we provided, compared with 22.1% in last year’s third quarter. For the nine months ended July 31, 2025, homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 17.6% compared with 22.2% in the first nine months of the previous fiscal year.

Total SG&A was $90.8 million, or 11.3% of total revenues, in the third quarter of fiscal 2025 compared with $89.5 million, or 12.4% of total revenues, in the third quarter of fiscal 2024. Total SG&A was $258.3 million, or 12.0% of total revenues, in the first nine months of fiscal 2025 compared with $254.5 million, or 12.6% of total revenues, in the first nine months of the previous fiscal year.

Total interest expense as a percent of total revenues increased to 4.2% for the third quarter of fiscal 2025, compared with 4.0% for the third quarter of fiscal 2024. For the nine months ended July 31, 2025, total interest expense as a percent of total revenues was 4.3% compared with 4.4% in the first nine months of the previous fiscal year.

1

Income before income taxes for the third quarter of fiscal 2025 was $23.8 million compared with $97.3 million in the third quarter of the prior fiscal year. For the first nine months of fiscal 2025, income before income taxes was $90.2 million compared with $199.2 million during the first nine months of the prior fiscal year.

Income before income taxes excluding land-related charges and gain on extinguishment of debt, net was $39.8 million in the third quarter of fiscal 2025, which was at the high end of the guidance range we provided, compared with income before these items of $100.4 million in the third quarter of fiscal 2024. For the nine months ended July 31, 2025, income before income taxes excluding land-related charges and gain on extinguishment of debt, net was $109.9 million compared with income before these items of $201.5 million in the same period of fiscal 2024.

Net income was $16.6 million, or $1.99 per diluted common share, for the three months ended July 31, 2025, compared with net income of $72.9 million, or $9.75 per diluted common share, in the same period of the previous fiscal year. For the first nine months of fiscal 2025, net income was $64.5 million, or $7.94 per diluted common share, compared with net income of $147.7 million, or $19.15 per diluted common share, during the first nine months of fiscal 2024.

EBITDA was $61.0 million for the third quarter of fiscal 2025 compared with $127.9 million for the third quarter of the prior year. For the first nine months of fiscal 2025, EBITDA was $190.7 million compared with $294.3 million in the same period of the prior year.

Adjusted EBITDA was $77.1 million for the quarter ended July 31, 2025, which was above the guidance range we provided, compared with $1

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 2025 SECOND QUARTER RESULTS

Second Highest TTM ROE Amongst Midsized Homebuilders

Redeemed Early the Remaining $27 Million of the 13.5% Senior Notes Due 2026 and Repurchased 2% of Our Common Stock

15% Year-Over-Year Increase in Consolidated Community Count and Consolidated Lots Controlled

MATAWAN, NJ, May 20, 2025 – Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal second quarter and six months ended April 30, 2025.

RESULTS FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED APRIL 30, 2025:

Total revenues decreased 3.1% to $686.5 million in the second quarter of fiscal 2025, compared with $708.4 million in the same quarter of the prior year. For the six months ended April 30, 2025, total revenues increased 4.4% to $1.36 billion compared with $1.30 billion in the first half of fiscal 2024.

Domestic unconsolidated joint ventures(1) sale of homes revenues for the second quarter of fiscal 2025 increased 21.4% to $144.5 million (207 homes) compared with $119.0 million (177 homes) for the three months ended April 30, 2024. For the first half of fiscal 2025, domestic unconsolidated joint ventures sale of homes revenues increased 17.1% to $276.3 million (404 homes) compared with $235.9 million (344 homes) in the six months ended April 30, 2024.

Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 13.8% for the three months ended April 30, 2025, compared with 19.5% during the second quarter a year ago. In the first six months of fiscal 2025, homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 14.5% compared with 18.9% in the same period of the prior fiscal year.

Homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 17.3% during the fiscal 2025 second quarter compared with 22.6% in last year’s second quarter. For the six months ended April 30, 2025, homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 17.8% compared with 22.3% in the first six months of the previous fiscal year.

Total SG&A was $80.6 million, or 11.7% of total revenues, in the second quarter of fiscal 2025 compared with $79.0 million, or 11.2% of total revenues, in the second quarter of fiscal 2024. Total SG&A was $167.5 million, or 12.3% of total revenues, in the first six months of fiscal 2025 compared with $165.1 million, or 12.7% of total revenues, in the first half of the previous fiscal year.

Total interest expense as a percent of total revenues decreased to 4.2% for the second quarter of fiscal 2025, as we continue to reduce our leverage, compared with 4.3% for the second quarter of fiscal 2024. For the six months ended April 30, 2025, total interest expense as a percent of total revenues was 4.3% compared with 4.7% in the first half of the previous fiscal year.

1

Income before income taxes for the second quarter of fiscal 2025 was $26.5 million compared with $69.4 million in the second quarter of the prior fiscal year. For the first half of fiscal 2025, income before income taxes was $66.4 million compared with $102.0 million during the first six months of the prior fiscal year.

Income before income taxes excluding land-related charges and gain on extinguishment of debt, net was $29.2 million in the second quarter of fiscal 2025 compared with income before these items of $69.6 million in the second quarter of fiscal 2024. For the six months ended April 30, 2025, income before income taxes excluding land-related charges and gain on extinguishment of debt, net was $70.1 million compared with income before these items of $101.1 million in the same period of fiscal 2024.

Net income was $19.7 million, or $2.43 per diluted common share, for the three months ended April 30, 2025, compared with net income of $50.8 million, or $6.66 per diluted common share, in the same period of the previous fiscal year. For the first six months of fiscal 2025, net income was $47.9 million, or $6.02 per diluted common share, compared with net income of $74.7 million, or $9.57 per diluted common share, during the first half of fiscal 2024.

EBITDA was $58.6 million for the second quarter of fiscal 2025 compared with $101.9 million for the second quarter of the prior year. For the first half of fiscal 2025, EBITDA was $129.7 million compared with $166.4 million in the same period of the prior year.

Consolidated contracts in the second quarter of fiscal 2025 decreased 7.5% to 1,398 homes ($706.6 million) compared with 1,512 homes ($785.8 million) in the same quarter last year. Contracts, including domestic unconsolidated joint ventures, for the three months ended April 30, 2

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 & Treasurer Vice President, Investor Relations

732-747-7800 732-747-7800

HOVNANIAN ENTERPRISES REPORTS FISCAL 2025 FIRST QUARTER RESULTS

13% Increase in Total Revenues

Income Before Income Taxes Increased 22% Year-Over-Year

7% Year-Over-Year Quarterly Growth in Consolidated Contracts

Total Consolidated Lots Controlled Increased 29% Year-Over-Year

MATAWAN, NJ, February 24, 2025 – Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal first quarter ended January 31, 2025.

RESULTS FOR THE THREE-MONTHS ENDED JANUARY 31, 2025:

Total revenues increased 13.4% to $673.6 million in the first quarter of fiscal 2025, compared with $594.2 million in the same quarter of the prior year.

Sale of homes revenues increased 12.8% to $646.9 million (1,254 homes) in the fiscal 2025 first quarter compared with $573.6 million (1,063 homes) in the previous year’s first quarter.

Domestic unconsolidated joint ventures(1) sale of homes revenues for the first quarter of fiscal 2025 was $131.8 million (197 homes) compared with $116.9 million (167 homes) for the three months ended January 31, 2024.

Sale of homes revenues, including domestic unconsolidated joint ventures, increased 12.8% to $778.7 million (1,451 homes) in the first quarter of fiscal 2025 compared with $690.6 million (1,230 homes) during the first quarter of fiscal 2024.

Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 15.2% for the three months ended January 31, 2025, compared with 18.3% during the first quarter a year ago.

1

Homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 18.3% during the fiscal 2025 first quarter, which was near the high end of the guidance range we provided, compared with 21.8% in last year’s first quarter.

Total SG&A was $86.9 million, or 12.9% of total revenues, in the first quarter of fiscal 2025 compared with $86.1 million, or 14.5% of total revenues, in the first quarter of fiscal 2024.

Total interest expense as a percent of total revenues decreased to 4.3% for the first quarter of fiscal 2025, as we continue to reduce our leverage, compared with 5.1% for the first quarter of fiscal 2024.

Income before income taxes for the first quarter of fiscal 2025 increased 22.4% to $39.9 million compared with $32.6 million in the first quarter of the prior fiscal year. The year-over-year increase illustrates that delivery growth, SG&A ratio improvements, lower interest and contributions from unconsolidated joint ventures can offset lower gross margins.

Income before income taxes excluding land-related charges and gain on extinguishment of debt, net increased 29.9% to $40.9 million in the first quarter of fiscal 2025 compared with income before these items of $31.5 million in the first quarter of fiscal 2024.

Net income was $28.2 million, or $3.58 per diluted common share, for the three months ended January 31, 2025, compared with net income of $23.9 million, or $2.91 per diluted common share, in the same period of the previous fiscal year.

EBITDA was $71.0 million for the first quarter of fiscal 2025 compared with $64.5 million for the first quarter of the prior year.

Consolidated contracts in the first quarter of fiscal 2025 increased 6.9% to 1,205 homes ($643.3 million) compared with 1,127 homes ($624.4 million) in the same quarter last year. Contracts, including domestic unconsolidated joint ventures, for the three months ended January 31, 2025, increased 9.5% to 1,400 homes ($770.8 million) compared with 1,279 homes ($724.5 million) in the first quarter of fiscal 2024.

As of January 31, 2025, consolidated community count increased 5.9% to 125 communities, compared with 118 communities as of January 31, 2024. Community count, including domestic unconsolidated joint ventures, increased 9.6% to 148 as of January 31, 2025, compared with 135 communities as of January 31, 2024.

Consolidated contracts per community were 9.6 in both the first quarter of fiscal 2025 and the first quarter of fiscal 2024. This is significantly higher than our historical quarterly average for the first quarter since 1997 of 8.0 contracts per community. Contracts per community, including domestic unconsolidated joint ventures, were 9.5 in both the three months ended January 31, 2025 and the same quarter one year ago.

The dollar value of consolidated contract backlog, as of January 31, 2025, decreased 16.1% to $931.9 million compared with $1.11 billion as of January 31, 2024. The dollar value of contract backlog, including domestic unconsolidated joint ventures, as of January 31, 2025, decreased 9.1% to $1.23 billion compared with $1.35 billion as of January 31, 2024. The year-over-year decrease in backlog is partly due to increased sales of quick move in

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 & Treasurer

Vice President, Investor Relations

732-747-7800

732-747-7800

HOVNANIAN ENTERPRISES REPORTS FISCAL 2024 FOURTH QUARTER AND FULL YEAR RESULTS

Full Year Income Before Income Taxes Increased 24% Year-Over-Year

44% Year-Over-Year Quarterly Growth in Consolidated Contracts

Total Consolidated Lots Controlled Increased 32% Year-Over-Year

47% Year-Over-Year Growth in Annual Land and Land Development Spend

MATAWAN, NJ, December 5, 2024 – Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal fourth quarter and year ended October 31, 2024.

RESULTS FOR THE THREE-MONTHS AND FULL YEAR ENDED OCTOBER 31, 2024:

Total revenues, adjusted homebuilding gross margin and total SG&A as a percentage of total revenues for the full year ended October 31, 2024, were within our guidance range. Adjusted EBITDA, adjusted income before income taxes and diluted earnings per share for the full year ended October 31, 2024, exceeded the high end of our guidance, despite income from unconsolidated joint ventures being slightly below the low end of our guidance.

Total revenues increased 10.4% to $979.6 million in the fourth quarter of fiscal 2024, compared with $887.0 million in the same quarter of the prior year. For the year ended October 31, 2024, total revenues increased 9.0% to $3.00 billion compared with $2.76 billion in fiscal 2023.

Sale of homes revenues increased 11.8% to $927.5 million (1,747 homes) in the fiscal 2024 fourth quarter compared with $829.7 million (1,517 homes) in the previous year’s fourth quarter. During the year ended October 31, 2024, sale of homes revenues increased 9.3% to $2.88 billion (5,348 homes) compared with $2.63 billion (4,878 homes) in the previous fiscal year.

Domestic unconsolidated joint ventures(1) sale of homes revenues for the fourth quarter of fiscal 2024 was $141.7 million (235 homes) compared with $144.0 million (196 homes) for the three months ended October 31, 2023. For fiscal 2024, domestic unconsolidated joint ventures sale of homes revenues increased 24.6% to $528.6 million (803 homes) compared with $424.3 million (595 homes) in the year ended October 31, 2023.

Sale of homes revenues, including domestic unconsolidated joint ventures, increased 9.8% to $1.07 billion (1,982 homes) in the fourth quarter of fiscal 2024 compared with $973.7 million (1,713 homes) during the fourth quarter of fiscal 2023. During the year ended October 31, 2024, sale of homes revenues, including domestic unconsolidated joint ventures, increased 11.4% to $3.40 billion (6,151 homes) compared with $3.05 billion (5,473 homes) during fiscal 2023.

1

Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 18.0% for the three months ended October 31, 2024, compared with 21.4% during the fourth quarter a year ago. In fiscal 2024, homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 18.7% compared with 19.6% in the prior fiscal year.

Homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 21.7% during the fiscal 2024 fourth quarter compared with 24.5% in last year’s fourth quarter. For the year ended October 31, 2024, homebuilding gross margin percentage, before cost of sales interest expense and land charges, was at the midpoint of the guidance range provided at 22.0% compared with 22.7% in the previous fiscal year.

Total SG&A was $87.7 million, or 9.0% of total revenues, in the fourth quarter of fiscal 2024 compared with $80.8 million, or 9.1% of total revenues, in the fourth quarter of fiscal 2023. Total SG&A was $342.2 million, or 11.4% of total revenues, in fiscal 2024 compared with $304.8 million, or 11.1% of total revenues, in the previous fiscal year.

Total interest expense as a percent of total revenues was 3.2% for the fourth quarter of fiscal 2024 compared with 4.1% for the fourth quarter of fiscal 2023. For the year ended October 31, 2024, total interest expense as a percent of total revenues was 4.0% compared with 4.9% in the previous fiscal year.

Income before income taxes for the fourth quarter of fiscal 2024 was $117.9 million compared with $121.4 million in the fourth quarter of the prior fiscal year. For fiscal 2024, income before income taxes increased 23.9% to $317.1 million compared with $256.0 million during the prior fiscal year.

Income before income taxes excluding land-related charges and loss (gain) on extinguishment of debt, net was $125.8 million in the fourth quarter of fiscal 2024 compared with income before these items of $143.6 million in the fourth quarter of fiscal 2023. For fiscal 2024, income before income taxes excluding land-related charges and loss (gain) on extinguishment of debt, net increased 15.6% to $327.3 million

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 & Treasurer

Vice President, Investor Relations

732-747-7800

732-747-7800

HOVNANIAN ENTERPRISES REPORTS FISCAL 2024 THIRD QUARTER RESULTS

11% Year-Over-Year Growth in Total Revenues

Income Before Income Taxes Increased 38% Year-Over-Year

24% Year-Over-Year Growth in Consolidated Community Count

Total Consolidated Lots Controlled Increased 34% Year-Over-Year

Increased Midpoint of Full Year Adjusted Income Before Income Tax Guidance by 11% to $313 Million

MATAWAN, NJ, August 22, 2024 – Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal third quarter and nine months ended July 31, 2024.

RESULTS FOR THE THREE-MONTH AND NINE-MONTH PERIODS ENDED JULY 31, 2024:

Total revenues increased 11.2% to $722.7 million in the third quarter of fiscal 2024, compared with $650.0 million in the same quarter of the prior year. For the nine months ended July 31, 2024, total revenues were $2.03 billion compared with $1.87 billion in the first nine months of fiscal 2023.

Sale of homes revenues increased to $687.4 million (1,255 homes) in the fiscal 2024 third quarter compared with $630.4 million (1,198 homes) in the previous year’s third quarter. During the nine months ended July 31, 2024, sale of homes revenues increased to $1.95 billion (3,601 homes) compared with $1.80 billion (3,361 homes) in the previous year’s first nine months.

Domestic unconsolidated joint ventures(1) sale of homes revenues for the third quarter of fiscal 2024 increased 24.8% to $151.0 million (224 homes) compared with $121.0 million (171 homes) for the three months ended July 31, 2023. For the first nine months of fiscal 2024, domestic unconsolidated joint ventures sale of homes revenues increased 38.0% to $386.9 million (568 homes) compared with $280.3 million (399 homes) in the nine months ended July 31, 2023.

Sale of homes revenues, including domestic unconsolidated joint ventures, increased 11.6% to $838.4 million (1,479 homes) in the third quarter of fiscal 2024 compared with $751.4 million (1,369 homes) during the third quarter of fiscal 2023. During the nine months ended July 31, 2024, sale of homes revenues, including domestic unconsolidated joint ventures, increased 12.2% to $2.33 billion (4,169 homes) compared with $2.08 billion (3,760 homes) during the first nine months of fiscal 2023.

Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 19.1% for the three months ended July 31, 2024, compared with 20.1% during the third quarter a year ago and 19.5% in the second quarter of fiscal 2024. During the first nine months of fiscal 2024, homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 18.9% compared with 18.8% in the same period of the prior fiscal year.

1

Homebuilding gross margin percentage, before cost of sales interest expense and land charges, was within the guidance range provided at 22.1% during the fiscal 2024 third quarter compared with 23.2% in last year’s third quarter and 22.6% in the second quarter of fiscal 2024. For the nine months ended July 31, 2024, homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 22.2% compared with 21.9% in the first nine months of the previous fiscal year.

Total SG&A was $89.5 million, or 12.4% of total revenues, in the third quarter of fiscal 2024 compared with $75.1 million, or 11.6% of total revenues, in the third quarter of fiscal 2023. Total SG&A was $254.5 million, or 12.6% of total revenues, in the first nine months of fiscal 2024 compared with $224.0 million, or 12.0% of total revenues, in the first nine months of the previous fiscal year.

Total interest expense as a percent of total revenues was 4.0% for the third quarter of fiscal 2024 compared with 5.0% for the third quarter of fiscal 2023. For the nine months ended July 31, 2024, total interest expense as a percent of total revenues was 4.4% compared with 5.3% in the same period of the previous fiscal year

Income before income taxes for the third quarter of fiscal 2024 increased 38.2% to $97.3 million compared with $70.4 million in the third quarter of the prior fiscal year. For the first nine months of fiscal 2024, income before income taxes increased 48.1% to $199.2 million compared with $134.6 million during the first nine months of the prior fiscal year.

Income before income taxes excluding land-related charges and loss (gain) on extinguishment of debt, net increased 34.2% to $100. million in the third quarter of fiscal 2024 compared with income before these items of $74.8 million in the third quarter of fiscal 2023. For the first nine months of fiscal 2024, income before income taxes excluding land-related charges and loss (gain) on extinguishment of debt, net increased 44

EX-99.1

7 ex991_1.htm

EXHIBIT 99.1

HOVNANIAN ENTERPRISES, INC.

News Release

Contact: Brad G. O’Connor Jeffrey T. O’Keefe

Chief Financial Officer & Treasurer Vice President, Investor Relations

732-747-7800 732-747-7800

HOVNANIAN ENTERPRISES REPORTS FISCAL 2024 SECOND QUARTER RESULTS

Income Before Income Taxes Increased More Than 50% Year-Over-Year

170 Basis Points Year-Over-Year Increase in Homebuilding Gross Margin Percentage

Net Contracts per Community Increased Year-Over-Year to 13.9

MATAWAN, NJ, May 22, 2024 – Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal second quarter and six months ended April 30, 2024.

RESULTS FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED APRIL 30, 2024:

Total revenues were $708.4 million in the second quarter of fiscal 2024, compared with $703.7 million in the same quarter of the prior year. For the six months ended April 30, 2024, total revenues were $1.30 billion compared with $1.22 billion in the first half of fiscal 2023.

Sale of homes revenues increased to $686.9 million (1,283 homes) in the fiscal 2024 second quarter compared with $670.7 million (1,225 homes) in the previous year’s second quarter. During the six months ended April 30, 2024, sale of homes revenues increased to $1.26 billion (2,346 homes) compared with $1.17 billion (2,163 homes) in the previous year’s first six months.

Domestic unconsolidated joint ventures(1) sale of homes revenues for the second quarter of fiscal 2024 increased 47.5% to $119.0 million (177 homes) compared with $80.7 million (121 homes) for the three months ended April 30, 2023. For the first half of fiscal 2024, domestic unconsolidated joint ventures sale of homes revenues increased 48.1% to $235.9 million (344 homes) compared with $159.3 (228 homes) in the six months ended April 30, 2023.

Sale of homes revenues, including domestic unconsolidated joint ventures, increased 7.3% to $805.9 million (1,460 homes) in the second quarter of fiscal 2024 compared with $751.4 million (1,346 homes) during the second quarter of fiscal 2023. During the six months ended April 30, 2024, sale of homes revenues, including domestic unconsolidated joint ventures, increased 12.5% to $1.50 billion (2,690 homes) compared with $1.33 billion (2,391 homes) during the first half of fiscal 2023.

Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 19.5% for the three months ended April 30, 2024, compared with 17.8% during the second quarter a year ago. During the first six months of fiscal 2024, homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 18.9% compared with 18.1% in the same period of the prior fiscal year.

Homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 22.6% during the fiscal 2024 second quarter compared with 20.9% in last year’s second quarter. For the six months ended April 30, 2024, homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 22.3% compared with 21.2% in the first six months of the previous fiscal year.

Total SG&A was $79.0 million, or 11.2% of total revenues, in the second quarter of fiscal 2024 compared with $75.5 million, or 10.7% of total revenues, in the second quarter of fiscal 2023. Total SG&A was $165.1 million, or 12.7% of total revenues, in the first six months of fiscal 2024 compared with $148.9 million, or 12.2% of total revenues, in the previous year’s first half.

1

Total interest expense as a percent of total revenues was 4.3% for the second quarter of fiscal 2024 compared with 5.1% for the second quarter of fiscal 2023. For the six months ended April 30, 2024, total interest expense as a percent of total revenues was 4.7% compared with 5.4% in the same period of the previous fiscal year.

Income before income taxes for the second quarter of fiscal 2024 increased 50.4% to $69.4 million compared with $46.1 million in the second quarter of the prior fiscal year. For the first six months of fiscal 2024, income before income taxes increased 58.9% to $102.0 million compared with $64.2 million during the first half of the prior fiscal year.

Net income increased 48.9% to $50.8 million, or $6.66 per diluted common share, for the three months ended April 30, 2024, compared with net income of $34.1 million, or $4.47 per diluted common share, in the same period of the previous fiscal year. For the first six months of fiscal 2024, net income was $74.7 million, or $9.57 per diluted common share, compared with net income of $52.9 million, or $6.74 per diluted common share, during the same period of fiscal 2023.

EBITDA increased to $101.9 million for the second quarter of fiscal 2024 compared with $86.6 million for the second quarter of the prior year. For the first six months of fiscal 2024, EBITDA was $166.4 million compared with $136.1 million in the same period of the prior year.

C

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 & Treasurer Vice President, Investor Relations

732-747-7800 732-747-7800

HOVNANIAN ENTERPRISES REPORTS FISCAL 2024 FIRST QUARTER RESULTS

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

MATAWAN, NJ, February 22, 2024 – Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal first quarter ended January 31, 2024.

RESULTS FOR THE THREE-MONTHS ENDED JANUARY 31, 2024:

Total revenues increased 15.3% to $594.2 million (including 1,063 deliveries) in the first quarter of fiscal 2024, compared with $515.4 million (including 938 deliveries) in the same quarter of the prior year.

Domestic unconsolidated joint venture deliveries for the first quarter of 2024 increased 56.1% to 167 homes compared with 107 homes for the three months ended January 31, 2023.

Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 18.3% for the three months ended January 31, 2024, compared with 18.7% during the first quarter a year ago.

Homebuilding gross margin percentage, before cost of sales interest expense and land charges, was 21.8% in both the fiscal 2024 and fiscal 2023 first quarters.

Total SG&A was $86.1 million, or 14.5% of total revenues, in the first quarter of fiscal 2024. Excluding $7.5 million of incremental phantom stock expense, total SG&A would have been $78.6 million or 13.2% of total revenues, in the first quarter of fiscal 2024. Total SG&A, in the first quarter of fiscal 2023 was $73.4 million, or 14.2% of total revenues. Excluding $1.4 million of incremental phantom stock expense, total SG&A would have been $72.0 million or 14.0% of total revenues, in the previous year’s first quarter.

1

Total interest expense as a percent of total revenues was 5.1% for the first quarter of fiscal 2024 compared with 5.8% for the first quarter of fiscal 2023.

Income before income taxes for the first quarter of fiscal 2024 increased 80.4% to $32.6 million compared with $18.0 million in the first quarter of the prior fiscal year.

For the first quarter of fiscal 2024, income before income taxes excluding $7.5 million of incremental phantom stock expense would have been $40.1 million. Income before income taxes excluding $1.4 million of incremental phantom stock expense, would have been $19.4 million in the first quarter of fiscal 2023.

Net income was $23.9 million, or $2.91 per diluted common share, for the three months ended January 31, 2024, compared with net income of $18.7 million, or $2.26 per diluted common share, in the same period of the previous fiscal year.

EBITDA increased 30.1% to $64.5 million for the first quarter of fiscal 2024 compared with $49.6 million for the first quarter of the prior year.

Consolidated contracts in the first quarter of fiscal 2024 increased 43.0% to 1,127 homes ($624.4 million) compared with 788 homes ($415.1 million) in the same quarter last year. Contracts, including domestic unconsolidated joint ventures1, for the three months ended January 31, 2024, increased 43.2% to 1,279 homes ($724.5 million) compared with 893 homes ($486.8 million) in the first quarter of fiscal 2023.

As of January 31, 2024, consolidated community count was 118 communities, compared with 113 communities at October 31, 2023 and 121 communities on January 31, 2023. Community count, including domestic unconsolidated joint ventures, was 135 as of January 31, 2024, compared with 129 communities at October 31, 2023 and 132 communities at the end of the first quarter of the prior fiscal year.

Consolidated contracts per community increased 47.7% year-over-year to 9.6 in the first quarter of fiscal 2024 compared with 6.5 contracts per community for the first quarter of fiscal 2023. Contracts per community, including domestic unconsolidated joint ventures, increased 39.7% to 9.5 in the three months ended January 31, 2024, compared with 6.8 contracts per community in the same quarter one year ago.

The dollar value of consolidated contract backlog, as of January 31, 2024, decreased 5.6% to $1.11 billion compared with $1.18 billion as of January 31, 2023. The dollar value of contract backlog, including domestic unconsolidated joint ventures, as of January 31, 2024, decreased 4.4% to $1.35 billion compared with $1.41 billion as of January 31, 2023.

The gross contract cancellation rate for consolidated contracts was 14% for the first quarter ended January 31, 2024 compared with 30% in the fiscal 2023 first quarter. The gross contract cancellation rate for contracts, including domestic unconsolidated joint ventures, was 14% for the first quarter of fiscal 2024 compared with 29% i

hov20231201_8k.htm

false 0000357294

0000357294

2023-12-05 2023-12-05

0000357294

hov:ClassACommonStock001ParValuePerShareCustomMember

2023-12-05 2023-12-05

0000357294

hov:PreferredStockPurchaseRightsCustomMember

2023-12-05 2023-12-05

0000357294

hov:DepositarySharesEachRepresenting11000thOfAShareOf7625SeriesAPreferredStockCustomMember

2023-12-05 2023-12-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 5, 2023

HOVNANIAN ENTERPRISES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

(State or Other

Jurisdiction

of Incorporation)

1-8551

(Commission File Number)

22-1851059

(IRS Employer

Identification No.)

90 Matawan Road, Fifth Floor

Matawan, New Jersey 07747

(Address of Principal Executive Offices) (Zip Code)

(732) 747-7800

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since

Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act.

Title of each class

Trading

symbol(s)

Name of each exchange on

which registered

Class A Common Stock $0.01 par value per share

HOV

New York Stock Exchange

Preferred Stock Purchase Rights (1)

N/A

New York Stock Exchange

Depositary Shares each representing 1/1,000th of a share of 7.625% Series A Preferred Stock

HOVNP

The Nasdaq Stock Market LLC

(1) Each share of Class A Common Stock includes an associated Preferred Stock Purchase Right. Each Preferred Stock Purchase Right initially represents the right, if such Preferred Stock Purchase Right becomes exercisable, to purchase from the Company one ten-thousandth of a share of its Series B Junior Preferred Stock for each share of Common Stock. The Preferred Stock Purchase Rights currently cannot trade separately from the underlying Common Stock.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Item 2.02.             Results of Operations and Financial Condition.

On December 5, 2023, Hovnanian Enterprises, Inc. (the “Company”) issued a press release announcing its preliminary financial results for the fiscal fourth quarter and fiscal year ended October 31, 2023. A copy of the press release is attached as Exhibit 99.1.

The information in this Current Report on Form 8-K and the Exhibit attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

The attached earnings press release contains information about consolidated earnings before interest expense and income taxes (“EBIT”) and before depreciation and amortization (“EBITDA”) and before inventory impairments and land option write-offs and loss on extinguishment of debt, net (“Adjusted EBITDA”) and also contains the ratio of Adjusted EBITDA to interest incurred, which are non-GAAP financial measures. The most directly comparable GAAP financial measure for EBIT, EBITDA and Adjusted EBITDA is net income. A reconciliation for historical periods of EBIT, EBITDA and Adjusted EBITDA to net income is contained in the earnings press release.

The attached earnings press release contains information about homebuilding gross margin, before cost of sales interest expense and land charges, and homebuilding gross margin percentage, before cost of sales interest expense and land charges, which are non-GAAP financial measures. The most directly comparable GAAP financial measures are homebuilding gross margin and homebuilding gross margin percentage, respectively. A reconciliation for histor

hov20230828_8k.htm

false 0000357294

0000357294

2023-08-30 2023-08-30

0000357294

hov:ClassACommonStock001ParValuePerShareCustomMember

2023-08-30 2023-08-30

0000357294

hov:PreferredStockPurchaseRights1CustomMember

2023-08-30 2023-08-30

0000357294

hov:DepositarySharesEachRepresenting11000thOfAShareOf7625SeriesAPreferredStockCustomMember

2023-08-30 2023-08-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 30, 2023

HOVNANIAN ENTERPRISES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

(State or Other

Jurisdiction

of Incorporation)

1-8551

(Commission File Number)

22-1851059

(IRS Employer

Identification No.)

90 Matawan Road, Fifth Floor

Matawan, New Jersey 07747

(Address of Principal Executive Offices) (Zip Code)

(732) 747-7800

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since

Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act.

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Class A Common Stock $0.01 par value per share

HOV

New York Stock Exchange

Preferred Stock Purchase Rights (1)

N/A

New York Stock Exchange

Depositary Shares each representing 1/1,000th of a share of 7.625% Series A Preferred Stock

HOVNP

The Nasdaq Stock Market LLC

(1) Each share of Class A Common Stock includes an associated Preferred Stock Purchase Right. Each Preferred Stock Purchase Right initially represents the right, if such Preferred Stock Purchase Right becomes exercisable, to purchase from the Company one ten-thousandth of a share of its Series B Junior Preferred Stock for each share of Common Stock. The Preferred Stock Purchase Rights currently cannot trade separately from the underlying Common Stock.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Item 2.02.            Results of Operations and Financial Condition.

On August 30, 2023, Hovnanian Enterprises, Inc. (the “Company”) issued a press release announcing its preliminary financial results for the fiscal third quarter ended July 31, 2023. A copy of the press release is attached as Exhibit 99.1.

The information in this Current Report on Form 8-K and the Exhibit attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

The attached earnings press release contains information about consolidated earnings before interest expense and income taxes (“EBIT”) and before depreciation and amortization (“EBITDA”) and before inventory impairment loss, land option write-offs and loss on extinguishment of debt, net (“Adjusted EBITDA”) and also contains the ratio of Adjusted EBITDA to interest incurred, which are non-GAAP financial measures. The most directly comparable GAAP financial measure for EBIT, EBITDA and Adjusted EBITDA is net income. A reconciliation for historical periods of EBIT, EBITDA and Adjusted EBITDA to net income is contained in the earnings press release.

The attached earnings press release contains information about homebuilding gross margin, before cost of sales interest expense and land charges, and homebuilding gross margin percentage, before cost of sales interest expense and land charges, which are non-GAAP financial measures. The most directly comparable GAAP financial measures are homebuilding gross margin and homebuilding gross margin percentage, respectively. A reconciliation for historical periods of homebui

hov20230525_8k.htm

false 0000357294

0000357294

2023-05-31 2023-05-31

0000357294

hov:ClassACommonStock001ParValuePerShareCustomMember

2023-05-31 2023-05-31

0000357294

hov:PreferredStockPurchaseRights1CustomMember

2023-05-31 2023-05-31

0000357294

hov:DepositarySharesEachRepresenting11000thOfAShareOf7625SeriesAPreferredStockCustomMember

2023-05-31 2023-05-31

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 31, 2023

HOVNANIAN ENTERPRISES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

(State or Other

Jurisdiction

of Incorporation)

1-8551

(Commission File Number)

22-1851059

(IRS Employer

Identification No.)

90 Matawan Road, Fifth Floor

Matawan, New Jersey 07747

(Address of Principal Executive Offices) (Zip Code)

(732) 747-7800

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since

Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act.

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Class A Common Stock $0.01 par value per share

HOV

New York Stock Exchange

Preferred Stock Purchase Rights (1)

N/A

New York Stock Exchange

Depositary Shares each representing 1/1,000th of a share of 7.625% Series A Preferred Stock

HOVNP

The Nasdaq Stock Market LLC

(1) Each share of Class A Common Stock includes an associated Preferred Stock Purchase Right. Each Preferred Stock Purchase Right initially represents the right, if such Preferred Stock Purchase Right becomes exercisable, to purchase from the Company one ten-thousandth of a share of its Series B Junior Preferred Stock for each share of Common Stock. The Preferred Stock Purchase Rights currently cannot trade separately from the underlying Common Stock.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Item 2.02.            Results of Operations and Financial Condition.

On May 31, 2023, Hovnanian Enterprises, Inc. (the “Company”) issued a press release announcing its preliminary financial results for the fiscal second quarter ended April 30, 2023. A copy of the press release is attached as Exhibit 99.1.

The information in this Current Report on Form 8-K and the Exhibit attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

The attached earnings press release contains information about consolidated earnings before interest expense and income taxes (“EBIT”) and before depreciation and amortization (“EBITDA”) and before inventory impairment loss, land option write-offs and loss on extinguishment of debt, net (“Adjusted EBITDA”) and also contains the ratio of Adjusted EBITDA to interest incurred, which are non-GAAP financial measures. The most directly comparable GAAP financial measure for EBIT, EBITDA and Adjusted EBITDA is net income. A reconciliation for historical periods of EBIT, EBITDA and Adjusted EBITDA to net income is contained in the earnings press release.

The attached earnings press release contains information about homebuilding gross margin, before cost of sales interest expense and land charges, and homebuilding gross margin percentage, before cost of sales interest expense and land charges, which are non-GAAP financial measures. The most directly comparable GAAP financial measures are homebuilding gross margin and homebuilding gross margin percentage, respectively. A reconciliation for historical periods of homebuildin

hov20230224_8k.htm

false 0000357294

0000357294

2023-02-28 2023-02-28

0000357294

hov:ClassACommonStock001ParValuePerShareCustomMember

2023-02-28 2023-02-28

0000357294

hov:PreferredStockPurchaseRights1CustomMember

2023-02-28 2023-02-28

0000357294

hov:DepositarySharesEachRepresenting11000thOfAShareOf7625SeriesAPreferredStockCustomMember

2023-02-28 2023-02-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): February 28, 2023

HOVNANIAN ENTERPRISES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

(State or Other

Jurisdiction

of Incorporation)

1-8551

(Commission File Number)

22-1851059

(IRS Employer

Identification No.)

90 Matawan Road, Fifth Floor

Matawan, New Jersey 07747

(Address of Principal Executive Offices) (Zip Code)

(732) 747-7800

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act.

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Class A Common Stock $0.01 par value per share

HOV

New York Stock Exchange

Preferred Stock Purchase Rights (1)

N/A

New York Stock Exchange

Depositary Shares each representing 1/1,000th of a share of 7.625% Series A Preferred Stock

HOVNP

The Nasdaq Stock Market LLC

(1) Each share of Class A Common Stock includes an associated Preferred Stock Purchase Right. Each Preferred Stock Purchase Right initially represents the right, if such Preferred Stock Purchase Right becomes exercisable, to purchase from the Company one ten-thousandth of a share of its Series B Junior Preferred Stock for each share of Common Stock. The Preferred Stock Purchase Rights currently cannot trade separately from the underlying Common Stock.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Item 2.02.            Results of Operations and Financial Condition.

On February 28, 2023, Hovnanian Enterprises, Inc. (the “Company”) issued a press release announcing its preliminary financial results for the fiscal first quarter ended January 31, 2023. A copy of the press release is attached as Exhibit 99.1.

The information in this Current Report on Form 8-K and the Exhibit attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

The attached earnings press release contains information about consolidated earnings before interest expense and income taxes (“EBIT”) and before depreciation and amortization (“EBITDA”) and before inventory impairment loss and land option write-offs (“Adjusted EBITDA”) and also contains the ratio of Adjusted EBITDA to interest incurred, which are non-GAAP financial measures. The most directly comparable GAAP financial measure for EBIT, EBITDA and Adjusted EBITDA is net income. A reconciliation for historical periods of EBIT, EBITDA and Adjusted EBITDA to net income is contained in the earnings press release.

The attached earnings press release contains information about homebuilding gross margin, before cost of sales interest expense and land charges, and homebuilding gross margin percentage, before cost of sales interest expense and land charges, which are non-GAAP financial measures. The most directly comparable GAAP financial measures are homebuilding gross margin and homebuilding gross margin percentage, respectively. A reconciliation for historical periods of homebuilding gross margin, before cost

hov20221206_8k.htm

false 0000357294

0000357294

2022-12-08 2022-12-08

0000357294

hov:ClassACommonStock001ParValuePerShareCustomMember

2022-12-08 2022-12-08

0000357294

hov:PreferredStockPurchaseRights1CustomMember

2022-12-08 2022-12-08

0000357294

hov:DepositarySharesEachRepresenting11000thOfAShareOf7625SeriesAPreferredStockCustomMember

2022-12-08 2022-12-08

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 8, 2022

HOVNANIAN ENTERPRISES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

(State or Other

Jurisdiction

of Incorporation)

1-8551

(Commission File Number)

22-1851059

(IRS Employer

Identification No.)

90 Matawan Road, Fifth Floor

Matawan, New Jersey 07747

(Address of Principal Executive Offices) (Zip Code)

(732) 747-7800

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act.

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Class A Common Stock $0.01 par value per share

HOV

New York Stock Exchange

Preferred Stock Purchase Rights (1)

N/A

New York Stock Exchange

Depositary Shares each representing 1/1,000th of a share of 7.625% Series A Preferred Stock

HOVNP

The Nasdaq Stock Market LLC

(1) Each share of Class A Common Stock includes an associated Preferred Stock Purchase Right. Each Preferred Stock Purchase Right initially represents the right, if such Preferred Stock Purchase Right becomes exercisable, to purchase from the Company one ten-thousandth of a share of its Series B Junior Preferred Stock for each share of Common Stock. The Preferred Stock Purchase Rights currently cannot trade separately from the underlying Common Stock.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Item 2.02.

Results of Operations and Financial Condition.

On December 8, 2022, Hovnanian Enterprises, Inc. (the “Company”) issued a press release announcing its preliminary financial results for the fiscal fourth quarter and fiscal year ended October 31, 2022. A copy of the press release is attached as Exhibit 99.1.

The information in this Current Report on Form 8-K and the Exhibit attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

The attached earnings press release contains information about consolidated earnings before interest expense and income taxes (“EBIT”) and before depreciation and amortization (“EBITDA”) and before inventory impairment loss and land option write-offs and loss on extinguishment of debt (“Adjusted EBITDA”) and also contains the ratio Adjusted EBITDA to interest incurred, which are non-GAAP financial measures. The most directly comparable GAAP financial measure for EBIT, EBITDA and Adjusted EBITDA is net income. A reconciliation for historical periods of EBIT, EBITDA and Adjusted EBITDA to net income is contained in the earnings press release.

The attached earnings press release contains information about homebuilding gross margin, before cost of sales interest expense and land charges, and homebuilding gross margin percentage, before cost of sales interest expense and land charges, which are non-GAAP financial measures. The most directly comparable GAAP financial measures are homebuilding gross margin and homebuilding gross margin percentage, respectively. A reconciliation for historical periods of h

hov20220830_8k.htm

false 0000357294

0000357294

2022-09-01 2022-09-01

0000357294

hov:ClassACommonStock001ParValuePerShareCustomMember

2022-09-01 2022-09-01

0000357294

hov:PreferredStockPurchaseRights1CustomMember

2022-09-01 2022-09-01

0000357294

hov:DepositarySharesEachRepresenting11000thOfAShareOf7625SeriesAPreferredStockCustomMember

2022-09-01 2022-09-01

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): September 1, 2022

HOVNANIAN ENTERPRISES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

(State or Other

Jurisdiction

of Incorporation)

1-8551

(Commission File Number)

22-1851059

(IRS Employer

Identification No.)

90 Matawan Road, Fifth Floor

Matawan, New Jersey 07747

(Address of Principal Executive Offices) (Zip Code)

(732) 747-7800

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since

Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act.

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Class A Common Stock $0.01 par value per share

HOV

New York Stock Exchange

Preferred Stock Purchase Rights (1)

N/A

New York Stock Exchange

Depositary Shares each representing 1/1,000th of a share of 7.625% Series A Preferred Stock

HOVNP

The Nasdaq Stock Market LLC

(1) Each share of Class A Common Stock includes an associated Preferred Stock Purchase Right. Each Preferred Stock Purchase Right initially represents the right, if such Preferred Stock Purchase Right becomes exercisable, to purchase from the Company one ten-thousandth of a share of its Series B Junior Preferred Stock for each share of Common Stock. The Preferred Stock Purchase Rights currently cannot trade separately from the underlying Common Stock.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Item 2.02.

Results of Operations and Financial Condition.

On September 1, 2022, Hovnanian Enterprises, Inc. (the “Company”) issued a press release announcing its preliminary financial results for the fiscal third quarter ended July 31, 2022. A copy of the press release is attached as Exhibit 99.1.

The information in this Current Report on Form 8-K and the Exhibit attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

The attached earnings press release contains information about consolidated earnings before interest expense and income taxes (“EBIT”) and before depreciation and amortization (“EBITDA”) and before inventory impairment loss and land option write-offs and loss on extinguishment of debt (“Adjusted EBITDA”) and also contains the ratio of Adjusted EBITDA to interest incurred, which are non-GAAP financial measures. The most directly comparable GAAP financial measure for EBIT, EBITDA and Adjusted EBITDA is net income. A reconciliation for historical periods of EBIT, EBITDA and Adjusted EBITDA to net income is contained in the earnings press release.

The attached earnings press release contains information about homebuilding gross margin, before cost of sales interest expense and land charges, and homebuilding gross margin percentage, before cost of sales interest expense and land charges, which are non-GAAP financial measures. The most directly comparable GAAP financial measures are homebuilding gross margin and homebuilding gross margin percentage, respectively. A reconciliation for historical periods of homebuilding gr

hov20220527_8k.htm

false 0000357294

0000357294

2022-06-01 2022-06-01

0000357294

hov:ClassACommonStockCustomMember

2022-06-01 2022-06-01

0000357294

hov:PreferredStockPurchaseRightsCustomMember

2022-06-01 2022-06-01

0000357294

hov:DepositarySharesEachRepresenting11000thOfAShareOf7625SeriesAPreferredStockCustomMember

2022-06-01 2022-06-01

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 1, 2022

HOVNANIAN ENTERPRISES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

(State or Other

Jurisdiction

of Incorporation)

1-8551

(Commission File Number)

22-1851059

(IRS Employer

Identification No.)

90 Matawan Road, Fifth Floor

Matawan, New Jersey 07747

(Address of Principal Executive Offices) (Zip Code)

(732) 747-7800

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since

Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act.

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Class A Common Stock $0.01 par value per share

HOV

New York Stock Exchange

Preferred Stock Purchase Rights (1)

N/A

New York Stock Exchange

Depositary Shares each representing 1/1,000th of a share of 7.625% Series A Preferred Stock

HOVNP

The Nasdaq Stock Market LLC

(1) Each share of Class A Common Stock includes an associated Preferred Stock Purchase Right. Each Preferred Stock Purchase Right initially represents the right, if such Preferred Stock Purchase Right becomes exercisable, to purchase from the Company one ten-thousandth of a share of its Series B Junior Preferred Stock for each share of Common Stock. The Preferred Stock Purchase Rights currently cannot trade separately from the underlying Common Stock.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Item 2.02.

Results of Operations and Financial Condition.

On June 1, 2022, Hovnanian Enterprises, Inc. (the “Company”) issued a press release announcing its preliminary financial results for the fiscal second quarter ended April 30, 2022. A copy of the press release is attached as Exhibit 99.1.

The information in this Current Report on Form 8-K and the Exhibit attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

The attached earnings press release contains information about consolidated earnings before interest expense and income taxes (“EBIT”) and before depreciation and amortization (“EBITDA”) and before inventory impairment loss and land option write-offs and loss on extinguishment of debt (“Adjusted EBITDA”) and also contains the ratio of Adjusted EBITDA to interest incurred, which are non-GAAP financial measures. The most directly comparable GAAP financial measure for EBIT, EBITDA and Adjusted EBITDA is net income. A reconciliation for historical periods of EBIT, EBITDA and Adjusted EBITDA to net income is contained in the earnings press release.

The attached earnings press release contains information about homebuilding gross margin, before cost of sales interest expense and land charges, and homebuilding gross margin percentage, before cost of sales interest expense and land charges, which are non-GAAP financial measures. The most directly comparable GAAP financial measures are homebuilding gross margin and homebuilding gross margin percentage, respectively. A reconciliation for historical periods of homebuilding gross margin, before cost of s

hov20220225_8k.htm

false 0000357294

0000357294

2022-03-01 2022-03-01

0000357294

hov:ClassACommonStock001ParValuePerShareCustomMember

2022-03-01 2022-03-01

0000357294

hov:PreferredStockPurchaseRights1CustomMember

2022-03-01 2022-03-01

0000357294

hov:DepositarySharesEachRepresenting11000thOfAShareOf7625SeriesAPreferredStockCustomMember

2022-03-01 2022-03-01

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): March 1, 2022

HOVNANIAN ENTERPRISES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

(State or Other

Jurisdiction

of Incorporation)

1-8551

(Commission File Number)

22-1851059

(IRS Employer

Identification No.)

90 Matawan Road, Fifth Floor

Matawan, New Jersey 07747

(Address of Principal Executive Offices) (Zip Code)

(732) 747-7800

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since

Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act.

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Class A Common Stock $0.01 par value per share

HOV

New York Stock Exchange

Preferred Stock Purchase Rights (1)

N/A

New York Stock Exchange

Depositary Shares each representing 1/1,000th of a share of 7.625% Series A Preferred Stock

HOVNP

The Nasdaq Stock Market LLC

(1) Each share of Class A Common Stock includes an associated Preferred Stock Purchase Right. Each Preferred Stock Purchase Right initially represents the right, if such Preferred Stock Purchase Right becomes exercisable, to purchase from the Company one ten-thousandth of a share of its Series B Junior Preferred Stock for each share of Common Stock. The Preferred Stock Purchase Rights currently cannot trade separately from the underlying Common Stock.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Item 2.02.

Results of Operations and Financial Condition.

On March 1, 2022, Hovnanian Enterprises, Inc. (the “Company”) issued a press release announcing its preliminary financial results for the fiscal first quarter ended January 31, 2022. A copy of the press release is attached as Exhibit 99.1.

The information in this Current Report on Form 8-K and the Exhibit attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

The attached earnings press release contains information about consolidated earnings before interest expense and income taxes (“EBIT”) and before depreciation and amortization (“EBITDA”) and before inventory impairment loss and land option write-offs (“Adjusted EBITDA”) and also contains the ratio of Adjusted EBITDA to interest incurred, which are non-GAAP financial measures. The most directly comparable GAAP financial measure for EBIT, EBITDA and Adjusted EBITDA is net income. A reconciliation for historical periods of EBIT, EBITDA and Adjusted EBITDA to net income is contained in the earnings press release.

The attached earnings press release contains information about homebuilding gross margin, before cost of sales interest expense and land charges, and homebuilding gross margin percentage, before cost of sales interest expense and land charges, which are non-GAAP financial measures. The most directly comparable GAAP financial measures are homebuilding gross margin and homebuilding gross margin percentage, respectively. A reconciliation for historical periods of homebuilding gross margin, before cost of sales interes

hov20211207_8k.htm

false 0000357294

0000357294

2021-12-09 2021-12-09

0000357294

hov:ClassACommonStock001ParValuePerShareCustomMember

2021-12-09 2021-12-09

0000357294

hov:PreferredStockPurchaseRights1CustomMember

2021-12-09 2021-12-09

0000357294

hov:DepositarySharesEachRepresenting11000thOfAShareOf7625SeriesAPreferredStockCustomMember

2021-12-09 2021-12-09

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 9, 2021

HOVNANIAN ENTERPRISES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

(State or Other

Jurisdiction

of Incorporation)

1-8551

(Commission File Number)

22-1851059

(IRS Employer

Identification No.)

90 Matawan Road, Fifth Floor

Matawan, New Jersey 07747

(Address of Principal Executive Offices) (Zip Code)

(732) 747-7800

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since

Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act.

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Class A Common Stock $0.01 par value per share

HOV

New York Stock Exchange

Preferred Stock Purchase Rights (1)

N/A

New York Stock Exchange

Depositary Shares each representing 1/1,000th of a share of 7.625% Series A Preferred Stock

HOVNP

The Nasdaq Stock Market LLC

(1) Each share of Class A Common Stock includes an associated Preferred Stock Purchase Right. Each Preferred Stock Purchase Right initially represents the right, if such Preferred Stock Purchase Right becomes exercisable, to purchase from the Company one ten-thousandth of a share of its Series B Junior Preferred Stock for each share of Common Stock. The Preferred Stock Purchase Rights currently cannot trade separately from the underlying Common Stock.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Item 2.02.            Results of Operations and Financial Condition.

On December 9, 2021, Hovnanian Enterprises, Inc. (the “Company”) issued a press release announcing its preliminary financial results for the fiscal fourth quarter and fiscal year ended October 31, 2021. A copy of the press release is attached as Exhibit 99.1.

The information in this Current Report on Form 8-K and the Exhibit attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

The attached earnings press release contains information about consolidated earnings before interest expense and income taxes (“EBIT”) and before depreciation and amortization (“EBITDA”) and before inventory impairment loss and land option write-offs and loss (gain) on extinguishment of debt (“Adjusted EBITDA”) and also contains ratios of total debt to Adjusted EBITDA and Adjusted EBITDA to interest incurred, which are non-GAAP financial measures. The most directly comparable GAAP financial measure for EBIT, EBITDA and Adjusted EBITDA is net income. A reconciliation for historical periods of EBIT, EBITDA and Adjusted EBITDA to net income is contained in the earnings press release.

The attached earnings press release contains information about homebuilding gross margin, before cost of sales interest expense and land charges, and homebuilding gross margin percentage, before cost of sales interest expense and land charges, which are non-GAAP financial measures. The most directly comparable GAAP financial measures are homebuilding gross margin and homebuilding gross margin percentage, respec