Hovnanian Q4 net income $97.3M ($13.05 EPS) vs $55.6M last year; book value jumps 80%

HOVNANIAN ENTERPRISES INC

2023-FY EPS reported $26.88 revenue$2,756,016,000

Total revenues $887.0M vs $886.8M; deliveries 1,517 homes, down from 1,599 YoY.
Net contracts per community up 66% YoY; consolidated contracts rose 55.8% to 938 homes.
Adjusted EBITDA $181.2M (+25.5% YoY); homebuilding gross margin 21.4% vs 19.6%.
Refinanced $655M in secured debt, extending maturities to 2028/2029; reduced total debt 40% since FY2020.
Q1 FY2024 guidance: revenue $525-625M, adjusted EBITDA $55-70M; expects significant YoY profit increase.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HOVNANIAN ENTERPRISES INC reported preliminary financial results for fiscal fourth quarter and fiscal year ended October 31, 2023.

Period: fiscal fourth quarter and fiscal year ended October 31, 2023
Result: preliminary results

Exact text from the filing

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.

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Source: SEC EDGAR

accession 0001437749-23-033582

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