Hovnanian Enterprises, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended July 31, 2023
August 30, 2023 at 02:15 pm
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Hovnanian Enterprises, Inc. reported earnings results for the third quarter and nine months ended July 31, 2023. For the third quarter, the company reported revenue was USD 649.96 million compared to USD 767.59 million a year ago. Net income was USD 55.76 million compared to USD 82.61 million a year ago. Basic earnings per share from continuing operations was USD 7.92 compared to USD 10.92 a year ago. Diluted earnings per share from continuing operations was USD 7.38 compared to USD 10.82 a year ago.
For the nine months, revenue was USD 1,868.98 million compared to USD 2,035.44 million a year ago. Net income was USD 108.63 million compared to USD 169.86 million a year ago. Basic earnings per share from continuing operations was USD 14.97 compared to USD 22.05 a year ago. Diluted earnings per share from continuing operations was USD 13.97 compared to USD 21.77 a year ago.
Hovnanian Enterprises, Inc., through its subsidiaries, conducts all of its homebuilding and financial services operations. Its segment includes Homebuilding and Financial services. The Homebuilding segment consists of three segments: Northeast (Delaware, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, Virginia and West Virginia); Southeast (Florida, Georgia and South Carolina), and West (Arizona, California and Texas). The Homebuilding segments are engaged in the sale and construction of single-family attached and detached homes, attached town homes and condominiums, urban infill and active lifestyle homes in planned residential developments. It also includes sales of land. The Financial services segment provides mortgage banking and title services to homebuilding operations customers. Its residential development activities include site planning and engineering, obtaining environmental and other regulatory approvals and constructing roads, drainage facilities and others.
HOVNANIAN ENTERPRISES, INC. 
