Hovnanian FY2022 pretax profit up 68% to $320M; Q4 contracts drop 48%

HOVNANIAN ENTERPRISES INC

2022-FY EPS reported $29.00 revenue$2,922,231,000

FY2022 pretax income $319.8M, up 68.4% YoY; net income $225.5M ($29.00 diluted EPS) vs $607.8M ($85.86) prior year which included $468.6M tax benefit.
Total revenues $2.92B vs $2.78B prior year; homebuilding gross margin (after interest & land charges) improved 290 bps to 21.5%.
Q4 consolidated contracts $343.7M (602 homes), down 48% YoY; beginning backlog cancellation rate rose to 13% from 6%.
Liquidity $457.3M at Oct 31, 2022, well above $170M-$245M target range; land & development spending $759.3M for FY.
Segment reclassified to three homebuilding segments (Northeast, Southeast, West); prior periods restated.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HOVNANIAN ENTERPRISES INC reported the fiscal year ended October 31, 2022 results: revenue $2.92 billion, net income $225.5 million, EPS $29.00 per diluted common share.

Period: the fiscal year ended October 31, 2022
Revenue: $2.92 billion
Net income: $225.5 million
EPS: $29.00 per diluted common share
Result: preliminary results

Exact text from the filing

$886.8 million in the fourth quarter of fiscal 2022, compared with $814.3 million in the same quarter of the prior year. For the year ended October 31, 2022, total revenues were $2.92 billion compared with $2.78 billion in the prior year. ● Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 19.6% for the three months ended

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HOVNANIAN ENTERPRISES INC reported the fiscal fourth quarter ended October 31, 2022 results: revenue $886.8 million, net income $55.6 million, EPS $7.24 per diluted common share.

Period: the fiscal fourth quarter ended October 31, 2022
Revenue: $886.8 million
Net income: $55.6 million
EPS: $7.24 per diluted common share
Result: preliminary results

Exact text from the filing

results for its fiscal fourth quarter and year ended October 31, 2022. RESULTS FOR THE FOURTH QUARTER AND YEAR ENDED OCTOBER 31, 2022: ● Total revenues increased 8.9% to $886.8 million in the fourth quarter of fiscal 2022, compared with $814.3 million in the same quarter of the prior year. For the year ended October 31, 2022, total revenues were $2.92 billion

View on SEC.gov

168 earnings releases filed in the last 30 days. Browse all earnings releases →

HOVNANIAN ENTERPRISES INC filing history →

Source: SEC EDGAR

accession 0001437749-22-028705

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.