Quarterly ResultMay 21, 2026, 10:16 AM
Hovnanian Enterprises Q2 Net Loss $0.6M; Meets Guidance
AI Summary
Hovnanian Enterprises reported a net loss of $0.6 million for its fiscal second quarter ended April 30, 2026, compared to a net income of $19.7 million in the prior year. Total revenues for the quarter were $667.6 million, a slight decrease from $686.5 million year-over-year. Despite the net loss, the company met or exceeded guidance on nearly all metrics, with gross margins improving sequentially. Domestic contracts, including unconsolidated joint ventures, increased by 2.3% year-over-year, and total liquidity stood at $442.0 million, well above its target range. The company also provided financial guidance for the third quarter of fiscal 2026.
Key Highlights
- Q2 fiscal 2026 net loss was $0.6 million, or $0.46 per diluted common share.
- Total revenues for Q2 fiscal 2026 were $667.6 million, down from $686.5 million YoY.
- Homebuilding gross margin percentage (before interest/land charges) was 14.3% in Q2, above guidance.
- Total domestic contracts (including JVs) increased 2.3% to 1,667 homes in Q2.
- Total liquidity as of April 30, 2026, was $442.0 million, exceeding the target range.
- Repurchased 90,507 shares of common stock for $9.5 million in Q2.
- Q3 fiscal 2026 revenue guidance is $650 million to $750 million.
- Q3 fiscal 2026 adjusted EBITDA guidance is $30 million to $40 million.
Price Impact
More from HOV