Hovnanian reports Q4 net loss of $0.7M; revenue down 16.5% YoY; completes $900M debt refinancing

HOVNANIAN ENTERPRISES INC

2025-FY EPS reported $7.43 revenue$2,978,581,000

Q4 total revenues $817.9M (within guidance), vs $979.6M same quarter last year; full year $2.98B vs $3.00B.
Net loss $0.7M ($0.51 diluted EPS) vs net income $94.3M ($12.79) a year ago; full year net income $63.9M ($7.43).
Homebuilding gross margin (after charges) fell to 10.7% from 18.0% due to $19.4M land charges and $33.5M extinguishment loss.
Adjusted EBITDA Q4 $88.6M (above guidance high end) vs $159.0M prior year; full year $299.1M vs $455.6M.
Completed $900M unsecured notes (8.0% due 2031, 8.375% due 2033) to redeem secured debt, extending maturities and reducing annual interest by $12M.

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