secwatch.observer — SEC 8-K summary
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Issuer:     HOVNANIAN ENTERPRISES INC (HOV)
CIK:        0000357294
Form:       8-K
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0001753926-24-000352
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hovnanian Q1 net income $2.91/diluted share; revenues up 15% to $594.2M, contracts per community up 48%
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- Total revenues $594.2M (+15.3% YoY); net income $23.9M ($2.91 diluted EPS) vs $18.7M ($2.26) prior year.
- Income before income taxes $32.6M, up 80.4% YoY; homebuilding gross margin % (before interest & land) steady at 21.8%.
- Consolidated contracts per community increased 47.7% YoY to 9.6; total liquidity $313.1M above target range.
- Land and land development spend $230.4M (highest quarterly since fiscal 2010); controlled lots 33,576 (6.7 years supply).
- Q2 FY2024 guidance: revenue $675-775M, adjusted homebuilding gross margin 21.5-23.0%, adjusted EBITDA $80-90M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/357294/000175392624000352/0001753926-24-000352-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/357294/000175392624000352/hov-20240222.htm
  HTML page:      https://secwatch.observer/filing/0001753926-24-000352

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