Hovnanian reports Q4 EPS (51c) vs $12.79 last year

Reports Q4 revenue $817.9M vs $979.6M last year. “Despite a tough housing market, our team performed very well, meeting or beating all of our guidance for the quarter,” said Ara Hovnanian (HOV), Chairman of the Board and Chief Executive Officer. “To maintain sales pace, we continued to rely on incentives, which lowered our gross profit margins but allowed us to sell older, less profitable land. In the fourth quarter, we averaged 8.6 contracts per community. Given our recent land acquisitions, we expect our gross margin percentage to be lowest in the first quarter of fiscal 2026 and to gradually increase in the following quarters. This gives us a strong base for long-term value creation for our shareholders.”