NYSE: HOV
HOVNANIAN ENTERPRISES INCCIK 0000357294 · SIC 1531 · Operative Builders
Large
Revenue $3.0B
Assets $2.9B
as of Aug 30, 2026
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10-Q
Filed Aug 28, 2026
· Period ending Jul 31, 2026
Summary not yet generated.
8-K
Filed Aug 20, 2026
· Period ending Aug 20, 2026
Summary not yet generated.
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10-Q
Filed Jun 2, 2026
· Period ending Apr 30, 2026
Summary not yet generated.
8-K
Filed May 21, 2026
· Period ending May 21, 2026
Summary not yet generated.
8-K
Filed Apr 1, 2026
· Period ending Mar 31, 2026
Summary not yet generated.
10-K
Filed Dec 22, 2025
· Period ending Oct 31, 2025
Summary not yet generated.
10-K
Filed Dec 18, 2024
· Period ending Oct 31, 2024
Summary not yet generated.
10-K/A
Filed Mar 24, 2021
· Period ending Oct 31, 2020
Summary not yet generated.
424B5
Filed Sep 12, 2013
Summary not yet generated.
424B5
Filed Sep 11, 2013
Summary not yet generated.
424B5
Filed Sep 21, 2012
Summary not yet generated.
10-Q/A
Filed Jun 14, 2011
· Period ending Apr 30, 2011
Summary not yet generated.
Latest financial statements
From 10-Q filed Aug 28, 2026 (period ending Jul 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(In thousands, except per share data)
| Description | Three months ended July 31, 2026 | Three months ended July 31, 2025 | Nine months ended July 31, 2026 | Nine months ended July 31, 2025 |
|---|---|---|---|---|
| Revenues: | ||||
| Homebuilding: | ||||
| Sale of homes | 679,042 | 769,050 | 1,858,989 | 2,066,278 |
| Land sales and other revenues | 3,032 | 2,967 | 80,276 | 27,573 |
| Total homebuilding | 682,074 | 772,017 | 1,939,265 | 2,093,851 |
| Financial services | 23,672 | 28,566 | 66,078 | 66,826 |
| Total revenues | 705,746 | 800,583 | 2,005,343 | 2,160,677 |
| Expenses: | ||||
| Homebuilding: | ||||
| Cost of sales, excluding interest | 579,576 | 636,256 | 1,620,268 | 1,712,835 |
| Cost of sales interest | 19,098 | 26,868 | 51,655 | 66,162 |
| Inventory impairments and land option write-offs | 493 | 16,045 | 11,602 | 20,141 |
| Total cost of sales | 599,167 | 679,169 | 1,683,525 | 1,799,138 |
| Selling, general and administrative | 49,469 | 55,770 | 156,748 | 161,087 |
| Total homebuilding expenses | 648,636 | 734,939 | 1,840,273 | 1,960,225 |
| Financial services | 13,980 | 14,715 | 40,576 | 41,043 |
| Corporate general and administrative | 37,399 | 35,029 | 98,116 | 97,221 |
| Other interest | 11,377 | 7,149 | 36,025 | 25,811 |
| Other expense (income), net (1) | 526 | 460 | (30,182) | (19,660) |
| Total expenses | 711,918 | 792,292 | 1,984,808 | 2,104,640 |
| Gain on extinguishment of debt, net | - | - | - | 399 |
| Income from unconsolidated joint ventures | 3,397 | 15,511 | 5,731 | 33,759 |
| (Loss) income before income taxes | (2,775) | 23,802 | 26,266 | 90,195 |
| (Benefit) provision for income taxes | (560) | 7,187 | 8,217 | 25,663 |
| Net (loss) income | (2,215) | 16,615 | 18,049 | 64,532 |
| Less: net (loss) income attributable to noncontrolling interest | (414) | - | (725) | - |
| Net (loss) income attributable to Hovnanian Enterprises, Inc. | (1,801) | 16,615 | 18,774 | 64,532 |
| Less: preferred stock dividends | 2,669 | 2,669 | 8,007 | 8,007 |
| Net (loss) income available to common stockholders | (4,470) | 13,946 | 10,767 | 56,525 |
| Per share data: | ||||
| Basic: | ||||
| Net (loss) income per common share | (0.70) | 2.14 | 1.65 | 8.55 |
| Weighted-average number of common shares outstanding | 6,412 | 6,399 | 6,439 | 6,442 |
| Assuming dilution: | ||||
| Net (loss) income per common share | (0.70) | 1.99 | 1.55 | 7.94 |
| Weighted-average number of common shares outstanding | 6,412 | 6,887 | 6,840 | 6,936 |
Condensed Consolidated Balance Sheets (Unaudited)
(In thousands, except per share data)
| Description | July 31, 2026 | October 31, 2025 |
|---|---|---|
| ASSETS | ||
| Homebuilding: | ||
| Cash and cash equivalents | 249,090 | 272,772 |
| Restricted cash | 9,208 | 12,608 |
| Inventories: | ||
| Sold and unsold homes and lots under development | 1,267,287 | 1,132,798 |
| Land and land options held for future development or sale | 178,913 | 171,793 |
| Consolidated inventory not owned | 348,244 | 332,879 |
| Total inventories | 1,794,444 | 1,637,470 |
| Investments in and advances to unconsolidated joint ventures | 155,086 | 163,469 |
| Receivables, deposits and notes, net | 49,603 | 26,454 |
| Property and equipment, net | 56,223 | 50,539 |
| Goodwill | 31,705 | - |
| Deferred tax assets, net | 224,442 | 229,617 |
| Prepaid expenses and other assets | 128,537 | 89,773 |
| Total homebuilding | 2,698,338 | 2,482,702 |
| Financial services | 162,720 | 151,211 |
| Total assets | 2,861,058 | 2,633,913 |
| LIABILITIES AND EQUITY | ||
| Homebuilding: | ||
| Nonrecourse mortgages secured by inventory, net of debt issuance costs | 32,411 | 29,494 |
| Accounts payable and other liabilities | 466,507 | 438,920 |
| Customers’ deposits | 235,355 | 46,376 |
| Liabilities from inventory not owned, net of debt issuance costs | 228,622 | 244,723 |
| Senior notes and credit facilities (net of discounts, premiums and debt issuance costs) | 902,492 | 900,718 |
| Accrued interest | 33,017 | 11,874 |
| Total homebuilding | 1,898,404 | 1,672,105 |
| Financial services | 141,698 | 130,873 |
| Total liabilities | 2,040,102 | 1,802,978 |
| Equity: | ||
| Hovnanian Enterprises, Inc. stockholders' equity: | ||
| Preferred stock, $0.01 par value authorized 100,000 shares; issued and outstanding 5,600 shares with a liquidation preference of $140,000 at July 31, 2026 and October 31, 2025 | 135,299 | 135,299 |
| Common stock, Class A, $0.01 par value authorized 16,000,000 shares; issued 6,645,124 shares at July 31, 2026 and 6,503,722 shares at October 31, 2025 | 66 | 65 |
| Common stock, Class B, $0.01 par value (convertible to Class A at time of sale) authorized 2,400,000 shares; issued 865,304 shares at July 31, 2026 and 812,410 shares at October 31, 2025 | 9 | 8 |
| Paid in capital common stock | 752,820 | 757,391 |
| Retained Earnings | 138,093 | 127,326 |
| Treasury stock at cost – 1,523,992 shares of Class A common stock at July 31, 2026 and 1,348,087 shares at October 31, 2025; 27,669 shares of Class B common stock at July 31, 2026 and October 31, 2025 | (207,621) | (189,154) |
| Total Hovnanian Enterprises Inc. stockholders’ equity | 818,666 | 830,935 |
| Noncontrolling interest | 2,290 | - |
| Total equity | 820,956 | 830,935 |
| Total liabilities and equity | 2,861,058 | 2,633,913 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Nine months ended July 31, 2026 | Nine months ended July 31, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | 18,049 | 64,532 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation | 10,536 | 8,513 |
| Stock-based compensation | 8,899 | 14,124 |
| Amortization of debt discounts, premiums and deferred financing costs | 7,075 | (1,777) |
| Gain on sale of property and assets | (3,732) | (951) |
| Gain on consolidation of joint venture | (26,830) | - |
| Gain on assets contributed to joint venture | - | (22,683) |
| Income from unconsolidated joint ventures | (5,731) | (33,759) |
| Distributions of earnings from unconsolidated joint ventures | - | 3,460 |
| Gain on extinguishment of debt | - | (399) |
| Inventory impairments and land option write-offs | 11,602 | 20,141 |
| Decrease (increase) in assets: | ||
| Inventories | 24,945 | (45,586) |
| Receivables, deposits and notes | (39,861) | (2,163) |
| Origination of mortgage loans | (1,194,610) | (1,279,416) |
| Sale of mortgage loans | 1,183,955 | 1,297,796 |
| Deferred tax assets | 5,175 | 20,244 |
| (Decrease) increase in liabilities: | ||
| Accounts payable, accrued interest and other liabilities | (3,740) | (16,712) |
| Customers’ deposits | 54,029 | (6,159) |
| Net cash provided by operating activities | 49,761 | 19,205 |
| Cash flows from investing activities: | ||
| Proceeds from sale of property and assets | 4,192 | 1,523 |
| Purchase of property, equipment, and other fixed assets | (15,964) | (17,011) |
| Investment in and advances to unconsolidated joint ventures, net of reimbursements | (58,067) | (49,572) |
| Distributions of capital from unconsolidated joint ventures | - | 4,425 |
| Acquisitions of business, net of cash acquired | 31,517 | - |
| Net cash used in investing activities | (38,322) | (60,635) |
| Cash flows from financing activities: | ||
| Proceeds from mortgages and notes | 58,466 | 152,747 |
| Payments related to mortgages and notes | (60,829) | (191,384) |
| Proceeds from model sale leaseback financing programs | 11,933 | 36,978 |
| Payments related to model sale leaseback financing programs | (24,855) | (13,806) |
| Proceeds from land bank financing programs | 80,086 | 159,819 |
| Payments related to land bank financing programs | (84,513) | (85,117) |
| Net proceeds (payments) related to mortgage warehouse lines of credit | 7,349 | (21,504) |
| Payments related to senior notes, senior secured notes and senior unsecured term loan | - | (26,588) |
| Contributions from noncontrolling interest | 1,120 | - |
| Preferred dividends paid | (8,007) | (8,007) |
| Treasury stock purchases | (18,467) | (30,302) |
| Deferred financing costs from land banking financing programs and note issuances | (1,395) | (3,353) |
| Net cash used in financing activities | (39,112) | (30,517) |
| Net decrease in cash and cash equivalents, and restricted cash and cash equivalents | (27,673) | (71,947) |
| Cash and cash equivalents, and restricted cash and cash equivalents balance, beginning of period | 318,647 | 266,761 |
| Cash and cash equivalents, and restricted cash and cash equivalents balance, end of period | 290,974 | 194,814 |
| Reconciliation of Cash, cash equivalents and restricted cash | ||
| Homebuilding: Cash and cash equivalents | 249,090 | 146,592 |
| Homebuilding: Restricted cash and cash equivalents | 9,208 | 12,155 |
| Financial Services: Cash and cash equivalents, included in financial services assets | 5,077 | 5,228 |
| Financial Services: Restricted cash and cash equivalents, included in financial services assets | 27,599 | 30,839 |
| Total cash, cash equivalents and restricted cash shown in the statements of cash flows | 290,974 | 194,814 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except per share data); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗