Hovnanian Q2 net income falls 61% to $19.7M; gross margin drops to 13.8%

HOVNANIAN ENTERPRISES INC

2025-Q2 EPS reported $6.02 vs consensus $2.47 ▲ beat (+143.3%)

Net income of $19.7M ($2.43 diluted EPS) vs $50.8M ($6.66) in prior year Q2; adjusted income before taxes $29.2M.
Homebuilding gross margin after cost of sales interest and land charges: 13.8% vs 19.5% YoY; before charges: 17.3% vs 22.6%.
Consolidated contracts down 7.5% to 1,398 homes; community count up 14.7% to 125.
Redeemed remaining $26.6M of 13.5% senior notes due 2026; repurchased 126,448 shares for $12.2M in Q2.
Q3 guidance: total revenues $750-850M, adjusted homebuilding gross margin 17-18%, adjusted EBITDA $60-70M.

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