Hovnanian Q4 total revenue up 10.4% to $979.6M; FY income before taxes up 24%

HOVNANIAN ENTERPRISES INC

2024-FY EPS reported $31.79 revenue$3,004,918,000

FY2024 net income $242M ($31.79 diluted EPS) vs $205.9M ($26.88) prior year; FY adj. EBITDA $445.4M vs $399.7M.
Q4 consolidated contracts surged 44.5% to 1,355 homes ($705.6M); Q4 contracts/community 10.4 vs 8.3 YoY.
Land and land development spend in FY2024 hit $995.4M, up 46.5% YoY; total controlled lots +32% to 41,891.
Total liquidity $338.2M above $170M-$245M target; community count +15% YoY to 130.
Q1 FY2025 guidance: revenue $650M-$750M, adj. homebuilding gross margin 17.5%-18.5%, adj. EBITDA $55M-$65M.

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