Recent Insider Transactions • Jun 29
CEO & Chairman of the Board recently sold €1.4m worth of stock On the 22nd of June, Ara Hovnanian sold around 13k shares on-market at roughly €110 per share. This transaction amounted to 6.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Ara has been a net seller over the last 12 months, reducing personal holdings by €1.5m. New Risk • May 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 170% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €95.50, the stock trades at a trailing P/E ratio of 27.3x. Average forward P/E is 10x in the Consumer Durables industry in Europe. Total returns to shareholders of 21% over the past three years. Announcement • May 23
Hovnanian Enterprises, Inc. Provides Earnings Guidance for the Third Quarter of Fiscal 2026 Hovnanian Enterprises, Inc. provided earnings guidance for the third quarter of fiscal 2026. For the third quarter of fiscal 2026, total revenues are expected to be between $650 million and $750 million. Reported Earnings • May 23
Second quarter 2026 earnings released: US$0.51 loss per share (vs US$2.64 profit in 2Q 2025) Second quarter 2026 results: US$0.51 loss per share (down from US$2.64 profit in 2Q 2025). Revenue: US$667.6m (down 2.7% from 2Q 2025). Net loss: US$2.95m (down 118% from profit in 2Q 2025). Revenue is forecast to stay flat during the next 2 years compared to a 4.8% growth forecast for the Consumer Durables industry in Europe. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Independent Director Miriam Hernandez-Kakol was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 08
Hovnanian Enterprises, Inc. to Report Q2, 2026 Results on May 21, 2026 Hovnanian Enterprises, Inc. announced that they will report Q2, 2026 results Pre-Market on May 21, 2026 Announcement • Feb 25
Hovnanian Enterprises, Inc. Provides Earnings Guidance for the Second Quarter of Fiscal 2026 Hovnanian Enterprises, Inc. provided earnings guidance for the second quarter of fiscal 2026. For the second quarter of fiscal 2026, total revenues are expected to be between $625 million and $725 million. Announcement • Feb 12
Hovnanian Enterprises, Inc. to Report Q1, 2026 Results on Feb 25, 2026 Hovnanian Enterprises, Inc. announced that they will report Q1, 2026 results on Feb 25, 2026 Announcement • Feb 10
Hovnanian Enterprises, Inc., Annual General Meeting, Mar 31, 2026 Hovnanian Enterprises, Inc., Annual General Meeting, Mar 31, 2026. Location: bilzin sumberg baena price & axelrod llp, 1450 brickell avenue, 23rd floor, 33131, miami United States Announcement • Dec 04
Hovnanian Enterprises, Inc. Provides Earnings Guidance for the First Quarter of Fiscal 2026 Hovnanian Enterprises, Inc. provided earnings guidance for the first quarter of fiscal 2026. For the period, the company's total revenues are expected to be between $550 million and $650 million. Announcement • Nov 21
Hovnanian Enterprises, Inc. to Report Q4, 2025 Results on Dec 04, 2025 Hovnanian Enterprises, Inc. announced that they will report Q4, 2025 results at 12:30 PM, US Eastern Standard Time on Dec 04, 2025 Announcement • Aug 21
Hovnanian Enterprises, Inc. Provides Earnings Guidance for the Fourth Quarter of Fiscal 2025 Hovnanian Enterprises, Inc. provided earnings guidance for the fourth quarter of fiscal 2025. For the quarter, the company total revenues are expected to be between $750 million and $850 million. Announcement • Aug 08
Hovnanian Enterprises, Inc. to Report Q3, 2025 Results on Aug 21, 2025 Hovnanian Enterprises, Inc. announced that they will report Q3, 2025 results on Aug 21, 2025 Announcement • May 20
Hovnanian Enterprises, Inc. Provides Revenue Guidance for the Third Quarter of Fiscal 2025 Hovnanian Enterprises, Inc. provided revenue guidance for the third quarter of fiscal 2025. For the quarter, the company expects total revenues to be between $750 million and $850 million. Announcement • May 07
Hovnanian Enterprises, Inc. to Report Q2, 2025 Results on May 20, 2025 Hovnanian Enterprises, Inc. announced that they will report Q2, 2025 results on May 20, 2025 Announcement • Feb 24
Hovnanian Enterprises, Inc. Provides Earnings Guidance for the Second Quarter of Fiscal 2025 Hovnanian Enterprises, Inc. provided earnings guidance for the second quarter of fiscal 2025. For the period, the company expects
total revenues are expected to be between $675 million and $775 million. Announcement • Feb 11
Hovnanian Enterprises, Inc. to Report Q1, 2025 Results on Feb 24, 2025 Hovnanian Enterprises, Inc. announced that they will report Q1, 2025 results on Feb 24, 2025 Announcement • Dec 19
Hovnanian Enterprises, Inc., Annual General Meeting, Mar 27, 2025 Hovnanian Enterprises, Inc., Annual General Meeting, Mar 27, 2025. Announcement • Dec 06
Hovnanian Enterprises, Inc. Provides Earnings Guidance for the First Quarter of Fiscal 2025 Hovnanian Enterprises, Inc. provided earnings guidance for the first quarter of fiscal 2025. For the period, the company's total revenues are expected to be between $650 million and $750 million. Announcement • Nov 22
Hovnanian Enterprises, Inc. to Report Fiscal Year 2024 Results on Dec 05, 2024 Hovnanian Enterprises, Inc. announced that they will report fiscal year 2024 results on Dec 05, 2024 Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €163, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 9x in the Consumer Durables industry in Germany. Total returns to shareholders of 122% over the past three years. Recent Insider Transactions • Oct 17
CEO & Chairman of the Board recently sold €336k worth of stock On the 15th of October, Ara Hovnanian sold around 2k shares on-market at roughly €180 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €4.1m. Ara has been a net seller over the last 12 months, reducing personal holdings by €26m. Recent Insider Transactions • Oct 02
President recently sold €160k worth of stock On the 27th of September, Ara Hovnanian sold around 877 shares on-market at roughly €182 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €4.1m. Ara has been a net seller over the last 12 months, reducing personal holdings by €26m. Recent Insider Transactions • Sep 19
President recently sold €3.5m worth of stock On the 17th of September, Ara Hovnanian sold around 18k shares on-market at roughly €195 per share. This transaction amounted to 8.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €4.1m. Ara has been a net seller over the last 12 months, reducing personal holdings by €26m. Recent Insider Transactions • Sep 04
President recently sold €1.8m worth of stock On the 30th of August, Ara Hovnanian sold around 9k shares on-market at roughly €199 per share. This transaction amounted to 3.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €4.1m. Ara has been a net seller over the last 12 months, reducing personal holdings by €22m. New Risk • Sep 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 4.5% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.5% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Significant insider selling over the past 3 months (€14m sold). Recent Insider Transactions • Aug 27
President recently sold €4.1m worth of stock On the 23rd of August, Ara Hovnanian sold around 20k shares on-market at roughly €205 per share. This transaction amounted to 7.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Ara has been a net seller over the last 12 months, reducing personal holdings by €20m. Reported Earnings • Aug 23
Third quarter 2024 earnings released: EPS: US$10.85 (vs US$7.92 in 3Q 2023) Third quarter 2024 results: EPS: US$10.85 (up from US$7.92 in 3Q 2023). Revenue: US$722.7m (up 11% from 3Q 2023). Net income: US$70.3m (up 42% from 3Q 2023). Profit margin: 9.7% (up from 7.6% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Announcement • Aug 23
Hovnanian Enterprises, Inc. Increases Earnings Guidance for the Full Year of 2024 Hovnanian Enterprises, Inc. increased earnings guidance for the full year of 2024. For the full fiscal year, total revenues are expected to be between $2.90 billion and $3.05 billion. Fully diluted earnings per share is expected to be between $29 and $31. Announcement • Aug 09
Hovnanian Enterprises, Inc. to Report Q3, 2024 Results on Aug 22, 2024 Hovnanian Enterprises, Inc. announced that they will report Q3, 2024 results on Aug 22, 2024 Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €196, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 4x in the Consumer Durables industry in Germany. Total returns to shareholders of 123% over the past three years. New Risk • Jul 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks High level of debt (142% net debt to equity). Significant insider selling over the past 3 months (€7.8m sold). Recent Insider Transactions • Jul 16
President recently sold €2.0m worth of stock On the 11th of July, Ara Hovnanian sold around 14k shares on-market at roughly €141 per share. This transaction amounted to 5.2% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €3.7m. Ara has been a net seller over the last 12 months, reducing personal holdings by €16m. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €144, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 3x in the Consumer Durables industry in Germany. Total returns to shareholders of 107% over the past three years. Recent Insider Transactions • Jun 27
President recently sold €622k worth of stock On the 24th of June, Ara Hovnanian sold around 5k shares on-market at roughly €137 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €1.1m. Ara has been a net seller over the last 12 months, reducing personal holdings by €13m. Recent Insider Transactions • Jun 15
Independent Director recently sold €209k worth of stock On the 13th of June, Bonnie Sellers sold around 1k shares on-market at roughly €143 per share. This transaction amounted to 6.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €267k. Insiders have been net sellers, collectively disposing of €21m more than they bought in the last 12 months. Recent Insider Transactions • Jun 04
Lead Independent Director recently sold €267k worth of stock On the 31st of May, Edward Kangas sold around 2k shares on-market at roughly €133 per share. This transaction amounted to 8.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €21m more than they bought in the last 12 months. Announcement • May 24
Hovnanian Enterprises, Inc. Provides Earnings Guidance for the Third Quarter and Full Year of 2024 Hovnanian Enterprises, Inc. provided earnings guidance for the third quarter and full year of 2024. For the third quarter of fiscal 2024, total revenues are expected to be between $675 million and $775 million.For the full fiscal year, total revenues are expected to be between $2.75 billion and $3.00 billion. Reported Earnings • May 23
Second quarter 2024 earnings released: EPS: US$7.46 (vs US$4.68 in 2Q 2023) Second quarter 2024 results: EPS: US$7.46 (up from US$4.68 in 2Q 2023). Revenue: US$708.4m (flat on 2Q 2023). Net income: US$48.2m (up 67% from 2Q 2023). Profit margin: 6.8% (up from 4.1% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €166, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 14x in the Consumer Durables industry in Europe. Total returns to shareholders of 76% over the past three years. Announcement • May 10
Hovnanian Enterprises, Inc. to Report Q2, 2024 Results on May 22, 2024 Hovnanian Enterprises, Inc. announced that they will report Q2, 2024 results on May 22, 2024 Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €139, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 2x in the Consumer Durables industry in Germany. Total returns to shareholders of 31% over the past three years. Recent Insider Transactions • Mar 23
President recently sold €145k worth of stock On the 21st of March, Ara Hovnanian sold around 1k shares on-market at roughly €145 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Ara has been a net seller over the last 12 months, reducing personal holdings by €16m. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €140, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 4x in the Consumer Durables industry in Germany. Total returns to shareholders of 56% over the past three years. Announcement • Feb 23
Hovnanian Enterprises, Inc. Reports Inventory Impairment Loss and Land Option Write-Offs for the Third Quarter Ended January 31, 2024 Hovnanian Enterprises, Inc. reported inventory impairment loss and land option write-offs for the third quarter ended January 31, 2024 was $302,000 as compared to $477,000 a year ago. Reported Earnings • Feb 23
First quarter 2024 earnings released: EPS: US$3.27 (vs US$2.37 in 1Q 2023) First quarter 2024 results: EPS: US$3.27 (up from US$2.37 in 1Q 2023). Revenue: US$594.2m (up 15% from 1Q 2023). Net income: US$21.2m (up 45% from 1Q 2023). Profit margin: 3.6% (up from 2.8% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 46% per year, which means it is well ahead of earnings. Announcement • Feb 09
Hovnanian Enterprises, Inc. to Report Q1, 2024 Results on Feb 22, 2024 Hovnanian Enterprises, Inc. announced that they will report Q1, 2024 results on Feb 22, 2024 Announcement • Feb 03
Hovnanian Enterprises, Inc., Annual General Meeting, Mar 21, 2024 Hovnanian Enterprises, Inc., Annual General Meeting, Mar 21, 2024, at 09:00 US Eastern Standard Time. Location: Bilzin Sumberg Baena Price & Axelrod LLP 1450 Brickell Avenue, 23rd Floor Florida United States Agenda: To consider the election of the directors named herein of the Company for the ensuing year to serve until the next annual meeting of shareholders of the company; to approve the ratification of the selection of Deloitte & Touche LLP, an independent registered public accounting firm, to examine the financial statements of the company; to consider the approval of the Third Amended and Restated 2020 Hovnanian Enterprises; to consider the approval of the compensation of the Company's named executive officers; and to consider approval of an amendment to the Company's stockholder rights plan. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €163, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 4x in the Consumer Durables industry in Germany. Total returns to shareholders of 312% over the past three years. New Risk • Dec 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks High level of debt (122% net debt to equity). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Significant insider selling over the past 3 months (€9.9m sold). Announcement • Dec 15
K. Hovnanian® Introduces Locke Landing, a New LOOKS Community in Baltimore, MD K. Hovnanian Homes introduced Locke Landing, a new community of townhomes within the mixed-use development Baltimore Peninsula. Locke Landing is K. Hovnanian’s first Baltimore community to offer LOOKS: designer-curated collections of beautiful interiors. Buyers can choose from 4 unique interiors—Loft, Farmhouse, Classic or Elements—and enjoy cohesive style without the stress. Situated in the heart of the Baltimore Peninsula with waterfront views of the Patapsco River, Locke Landing’s 2-story condominium townhomes feature 3 bedrooms, 2.5 baths and 1-car garages. Along with shopping, dining, retail, and 40+ acres of outdoor recreation, Locke Landing also offers easy access to I-95, Route 2, and MARC commuter trains. Announcement • Dec 13
K. Hovnanian® Introduces The Grove at Jackson Village, a New LOOKS Community in Fredericksburg, VA K. Hovnanian Homes introduces The Grove at Jackson Village, an 850-unit townhome community in Fredericksburg. This community offers LOOKS: a designer-curated collection of beautiful interiors. Buyers can choose between Loft, Farmhouse, Classic or Elements LOOKS, and enjoy cohesive style without the stress. The Grove at Jackson Village offers floorplans featuring up to 5 bedrooms, 4.5 baths, and 3,025 square feet, including options for the Extra Suite—a self-contained living space designed for multi-generational living. The community is located near shopping and dining at Central Park, major employment hubs, and commuter route I-95 with access to the VRE train station. Recent Insider Transactions • Dec 13
President recently sold €4.2m worth of stock On the 11th of December, Ara Hovnanian sold around 32k shares on-market at roughly €131 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Ara has been a net seller over the last 12 months, reducing personal holdings by €11m. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to €127, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 5x in the Consumer Durables industry in Germany. Total returns to shareholders of 367% over the past three years. Announcement • Dec 07
K. Hovnanian®? Introduces Enclave at Hillandale, a New LOOKS Community in Morris County K. Hovnanian Homes introduced Enclave at Hillandale, a new boutique townhome community in Mendham Township, which offers lookS: a designer-curated collection of beautiful interiors. Buyers can choose between Loft, Farmhouse, or Classic lookS, and enjoy cohesive style without the stress. These new construction townhomes offer up to 4 bedrooms, 5.5 bathrooms, 2-car garage and 3,372 square feet, with a basement walkout option. Built on the former grounds of Mosley Mansion, Enclave at Hillandale offers close proximity to a range of shops, restaurants, local farms, and outdoor recreation. It's conveniently located near Routes 206, 202, 78 and 287, and NJ Transit. Announcement • Dec 06
Hovnanian Enterprises, Inc. Provides Earnings Guidance for the First Quarter of Fiscal 2024 Hovnanian Enterprises, Inc. provided earnings guidance for the first quarter of fiscal 2024. For the first quarter of fiscal 2024, total revenues are expected to be between $525 million and $625 million. Reported Earnings • Dec 06
Full year 2023 earnings released: EPS: US$31.34 (vs US$30.31 in FY 2022) Full year 2023 results: EPS: US$31.34 (up from US$30.31 in FY 2022). Revenue: US$2.76b (down 5.7% from FY 2022). Net income: US$195.2m (flat on FY 2022). Profit margin: 7.1% (up from 6.7% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Announcement • Nov 22
Hovnanian Enterprises, Inc. to Report Q4, 2023 Results on Dec 05, 2023 Hovnanian Enterprises, Inc. announced that they will report Q4, 2023 results on Dec 05, 2023 Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to €78.50, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 11x in the Consumer Durables industry in Germany. Total returns to shareholders of 150% over the past three years. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €64.50, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 11x in the Consumer Durables industry in Germany. Total returns to shareholders of 150% over the past three years. Recent Insider Transactions • Oct 11
Lead Independent Director recently sold €450k worth of stock On the 9th of October, Edward Kangas sold around 6k shares on-market at roughly €81.75 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €8.4m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €80.50, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 11x in the Consumer Durables industry in Germany. Total returns to shareholders of 155% over the past three years. Announcement • Sep 01
Hovnanian Enterprises, Inc. Raises Earnings Guidance for the Year 2023 Hovnanian Enterprises, Inc. raised earnings guidance for the year 2023. For the year, the company increasing guidance for total revenues and fully diluted earnings per share. Total revenues are expected to be between $2.6 billion and $2.7 billion. Fully diluted earnings per share is expected to be between $21 and $24. Reported Earnings • Aug 31
Third quarter 2023 earnings released: EPS: US$8.50 (vs US$10.92 in 3Q 2022) Third quarter 2023 results: EPS: US$8.50 (down from US$10.92 in 3Q 2022). Revenue: US$650.0m (down 15% from 3Q 2022). Net income: US$53.1m (down 25% from 3Q 2022). Profit margin: 8.2% (down from 9.2% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings. Announcement • Aug 18
Hovnanian Enterprises, Inc. to Report Q3, 2023 Results on Aug 30, 2023 Hovnanian Enterprises, Inc. announced that they will report Q3, 2023 results on Aug 30, 2023 Recent Insider Transactions • Jun 26
President recently sold €4.3m worth of stock On the 22nd of June, Ara Hovnanian sold around 47k shares on-market at roughly €90.67 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Ara's only on-market trade for the last 12 months. Announcement • Jun 25
Hovnanian Enterprises, Inc.(NYSE:HOV) dropped from Russell Small Cap Comp Growth Index Hovnanian Enterprises, Inc.(NYSE:HOV) dropped from Russell Small Cap Comp Growth Index Reported Earnings • Jun 01
Second quarter 2023 earnings released: EPS: US$5.11 (vs US$7.96 in 2Q 2022) Second quarter 2023 results: EPS: US$5.11 (down from US$7.96 in 2Q 2022). Revenue: US$703.7m (flat on 2Q 2022). Net income: US$31.5m (down 38% from 2Q 2022). Profit margin: 4.5% (down from 7.2% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 19
Hovnanian Enterprises, Inc. to Report Q2, 2023 Results on May 31, 2023 Hovnanian Enterprises, Inc. announced that they will report Q2, 2023 results on May 31, 2023 Recent Insider Transactions • Mar 09
Lead Independent Director recently sold €624k worth of stock On the 6th of March, Edward Kangas sold around 10k shares on-market at roughly €62.37 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Mar 01
First quarter 2023 earnings released: EPS: US$2.59 (vs US$3.12 in 1Q 2022) First quarter 2023 results: EPS: US$2.59 (down from US$3.12 in 1Q 2022). Revenue: US$515.4m (down 8.8% from 1Q 2022). Net income: US$16.0m (down 20% from 1Q 2022). Profit margin: 3.1% (down from 3.5% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 41% per year whereas the company’s share price has increased by 38% per year. Announcement • Feb 15
Hovnanian Enterprises, Inc. to Report Q1, 2023 Results on Feb 28, 2023 Hovnanian Enterprises, Inc. announced that they will report Q1, 2023 results on Feb 28, 2023 Announcement • Feb 11
Hovnanian Enterprises, Inc., Annual General Meeting, Mar 28, 2023 Hovnanian Enterprises, Inc., Annual General Meeting, Mar 28, 2023, at 09:00 US Eastern Standard Time. Location: 1450 BRICKELL AVENUE, 23RD FL, MIAMI, FL 33131 Miami United States Agenda: To approve the election of the directors named herein of the company for the ensuing year, to serve until the next Annual Meeting of Shareholders of the company, and until their respective successors may be elected and qualified; to consider the ratification of the selection of Deloitte & Touche LLP, an independent registered public accounting firm, to examine the financial statements of the company for the year ending October 31, 2023; to consider the approval of the compensation of the company’s named executive officers in a non-binding, advisory vote; to hold a non-binding advisory vote to determine whether a shareholder advisory vote to approve the compensation of the company’s named executive officers should occur every one, two or three years; and to consider the transaction of such other business as may properly come before the meeting and any adjournment thereof. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €60.00, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 9x in the Consumer Durables industry in Germany. Total returns to shareholders of 173% over the past three years. Reported Earnings • Dec 09
Full year 2022 earnings released: EPS: US$33.37 (vs US$87.51 in FY 2021) Full year 2022 results: EPS: US$33.37 (down from US$87.51 in FY 2021). Revenue: US$2.92b (up 5.0% from FY 2021). Net income: US$214.8m (down 61% from FY 2021). Profit margin: 7.4% (down from 20% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Nov 29
Hovnanian Enterprises, Inc. to Report Q4, 2022 Results on Dec 08, 2022 Hovnanian Enterprises, Inc. announced that they will report Q4, 2022 results on Dec 08, 2022 Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent Director Miriam Hernandez-Kakol was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 20
Hovnanian Enterprises, Inc. Reiterates Earnings Guidance for the Year 2023 Hovnanian Enterprises, Inc. announced that for fiscal 2022, total revenues are expected to be between $2.80 billion and $3.00 billion, gross margin, before cost of sales interest expense and land charges, is expected to be between 24.0% and 26.0%, and fully diluted earnings per share is expected to be between $28.50 and $30.00. Announcement • Sep 08
Hovnanian Enterprises, Inc. (NYSE:HOV) announces an Equity Buyback for $50 million worth of its shares. The Board of Directors of Hovnanian Enterprises, Inc. has authorized a buyback plan on September 1, 2022. Under the offer, the company will repurchase up to $50.0 million of Class A common stock. Under the new repurchase program, repurchases may be made from time to time in open market transactions, in privately negotiated transactions or otherwise. Announcement • Sep 03
Hovnanian Enterprises, Inc. Provides Earnings Guidance for the Fiscal Year 2022 Hovnanian Enterprises, Inc. provided earnings guidance for the fiscal year 2022. For the period, the company expects the total revenues to be between $2.80 billion and $3.00 billion. fully diluted earnings per share is expected to be between $32.00 and $33.50. At the midpoint of guidance, The company anticipates shareholders' equity to increase year-over-year by approximately 120% at October 31, 2022. Reported Earnings • Sep 02
Third quarter 2022 earnings released: EPS: US$12.33 (vs US$6.85 in 3Q 2021) Third quarter 2022 results: EPS: US$12.33 (up from US$6.85 in 3Q 2021). Revenue: US$767.6m (up 11% from 3Q 2021). Net income: US$79.9m (up 85% from 3Q 2021). Profit margin: 10% (up from 6.3% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 63% per year, which means it is significantly lagging earnings growth. Announcement • Aug 19
Hovnanian Enterprises, Inc. to Report Q3, 2022 Results on Sep 01, 2022 Hovnanian Enterprises, Inc. announced that they will report Q3, 2022 results on Sep 01, 2022 Reported Earnings • Jun 02
Second quarter 2022 earnings released: EPS: US$9.34 (vs US$70.51 in 2Q 2021) Second quarter 2022 results: EPS: US$9.34 (down from US$70.51 in 2Q 2021). Revenue: US$702.5m (flat on 2Q 2021). Net income: US$59.8m (down 86% from 2Q 2021). Profit margin: 8.5% (down from 63% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 77% per year, which means it is significantly lagging earnings growth. Announcement • May 19
Hovnanian Enterprises, Inc. to Report Q2, 2022 Results on Jun 01, 2022 Hovnanian Enterprises, Inc. announced that they will report Q2, 2022 results on Jun 01, 2022 Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent Director Miriam Hernandez-Kakol was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 01
Hovnanian Enterprises, Inc. Appoints Miriam Hernandez-Kakol to Compensation Committee The Board of Hovnanian Enterprises, Inc. appointed Miriam Hernandez-Kakol to its Compensation Committee, effective immediately. Announcement • Mar 03
Hovnanian Enterprises, Inc. Retrains Earning Guidance for the Second Quarter and Fiscal Year of 2022 Hovnanian Enterprises, Inc. retrained Earning Guidance for the Second Quarter and Fiscal Year of 2022. For the second quarter of fiscal 2022, total revenues are expected to be between $700 million and $750 million.For fiscal year 2022, total revenues are expected to be between $2.80 billion and $3.00 billion. Fully diluted earnings per share is expected to be between $26.50 and $32.00. Reported Earnings • Mar 02
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: US$3.47 (up from US$2.79 in 1Q 2021). Revenue: US$565.3m (down 1.6% from 1Q 2021). Net income: US$22.1m (up 28% from 1Q 2021). Profit margin: 3.9% (up from 3.0% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 86% per year, which means it is significantly lagging earnings growth. 
