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Stock impact report

Hovnanian Enterprises Q1 Earnings Call Highlights [Yahoo! Finance]

Hovnanian Enterprises, Inc. Class A (HOV) 
US:NYSE Investor Relations: khov.com/investor-relations
Company Research Source: Yahoo! Finance
and adjusted pretax income of $31 million , even though revenue fell 6% and deliveries declined 12% year-over-year; management said profit was down 24% YoY largely because of higher incentives and is intentionally prioritizing pace over price The balance sheet strengthened: the company finished the quarter with $471 million of liquidity and net debt-to-capital of (down from 146.2% in early fiscal 2020) while maintaining a disciplined, land-light portfolio of 35,560 domestic lots (6.7-year supply) and recording a one-time $27 million JV gain. Sales mix and trends show recovery but heavy incentive use — incentives were of average sales price, quick-move-in homes made up of sales, to-be-built margins were about 780 basis points higher than QMI margins, and backlog conversion rose to as January/February contract activity improved. Interested in Hovnanian Enterprises Inc? Here are five stocks we like better. PulteGroup Wins and Wins More on Interest Rate Cuts Hovnanian Enterprise Show less Read more
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