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Oct 31, 2024
Hovnanian Q4 2024 Earnings Report
Hovnanian Enterprises' Q4 2024 earnings were reported.
Key Takeaways
Hovnanian Enterprises reported a 10.4% increase in total revenues to $979.6 million for the fourth quarter of fiscal 2024, compared to $887.0 million in the same quarter of the prior year. Net income was $94.3 million, or $12.79 per diluted common share, compared to $97.3 million, or $13.05 per diluted common share, in the same period of the previous fiscal year. Consolidated contracts increased 44.5% to 1,355 homes ($705.6 million).
Total revenues increased by 10.4% to $979.6 million.
Sale of homes revenues increased by 11.8% to $927.5 million.
Consolidated contracts increased by 44.5% to 1,355 homes.
Land and land development spending increased 45.0% to $318.4 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the first quarter of fiscal 2025, total revenues are expected to be between $650 million and $750 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 $25 million and $35 million and adjusted EBITDA is expected to be between $55 million and $65 million.
Positive Outlook
- Total revenues are expected to be between $650 million and $750 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 $25 million and $35 million.
- Adjusted EBITDA is expected to be between $55 million and $65 million.
Challenges Ahead
- Guidance assumes no adverse changes in current market conditions.
- Guidance excludes deterioration in our supply chain.
- Guidance excludes material increases in mortgage rates.
- Guidance excludes material increases in inflation.
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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