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Jan 31, 2025
Hovnanian Q1 2025 Earnings Report
Hovnanian Enterprises reported first quarter results with increased total revenues and income before income taxes.
Key Takeaways
Hovnanian Enterprises reported a 13.4% increase in total revenues to $673.6 million and a 22.4% increase in income before income taxes to $39.9 million for the first quarter of fiscal 2025. The company experienced growth in consolidated contracts and an increase in total consolidated lots controlled.
Total revenues increased by 13.4% to $673.6 million.
Income before income taxes increased by 22.4% year-over-year to $39.9 million.
Consolidated contracts increased by 6.9% to 1,205 homes.
Total consolidated lots controlled increased by 28.8% year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the second quarter of fiscal 2025, Hovnanian Enterprises expects total revenues between $675 million and $775 million, adjusted homebuilding gross margin between 17.5% and 18.5%, adjusted income before income taxes between $20 million and $30 million, and adjusted EBITDA between $50 million and $60 million.
Positive Outlook
- Total revenues are expected to be between $675 million and $775 million.
- Adjusted homebuilding gross margin is expected to be between 17.5% and 18.5%.
- Adjusted income before income taxes is expected to be between $20 million and $30 million.
- Adjusted EBITDA is expected to be between $50 million and $60 million.
- Intention to redeem early the remaining $26.6 million of the 13.5% senior notes maturing in February 2026.
Challenges Ahead
- Guidance assumes no adverse changes in current market conditions.
- Excludes deterioration in supply chain or material increases in mortgage rates.
- Excludes increases in inflation or cancellation rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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