NYSE$HOV
Hovnanian Enterprises Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Hovnanian Enterprises reported an increase in total revenues and income before income taxes for the first quarter of fiscal year 2024.
Hovnanian Enterprises reported a solid start to fiscal 2024, with an 80% year-over-year increase in income before income taxes for the first quarter. Total revenues increased by 15.3% to $594.2 million, driven by a 13.3% increase in home deliveries. The company's net income was $23.9 million, or $2.91 per diluted common share, compared to $18.7 million, or $2.26 per diluted common share, in the same period of the previous fiscal year.
- Total revenues increased by 15.3% to $594.2 million.
- Income before income taxes increased by 80.4% to $32.6 million.
- Net income was $23.9 million, or $2.91 per diluted common share.
- Consolidated contracts per community increased 47.7% year-over-year.
Headline financials
Revenue & EPS history
Hovnanian · Revenue · Quarterly
$594M
Revenue by segment
Hovnanian · $668M total across 3 segments · Q2 2026
- Sale of homes$604M—90.5%
- Land sales and other$40.1M—6.0%
- Financial services$23.4M—3.5%
Forward guidance
For the second quarter of fiscal 2024, Hovnanian Enterprises expects total revenues to be between $675 million and $775 million, adjusted homebuilding gross margin to be between 21.5% and 23.0%, adjusted income before income taxes to be between $45 million and $55 million and adjusted EBITDA to be between $80 million and $90 million.
Tailwinds
- Total revenues are expected to be between $675 million and $775 million.
- Adjusted homebuilding gross margin is expected to be between 21.5% and 23.0%.
- Adjusted income before income taxes is expected to be between $45 million and $55 million.
- Adjusted EBITDA is expected to be between $80 million and $90 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
+1.0%
Avg return
Earnings day
+1.7%
Avg return
5 days after
-1.6%
Avg return
30 days after
48%
32 / 67 earnings
Positive
+53.3%
Q3 2019
Best reaction
-23.5%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +16.6% | +13.6% | +34.4% | |
| Q1 2026 | +3.1% | -1.6% | -13.1% | |
| Q4 2025 | -23.5% | -25.6% | -27.0% | |
| Q3 2025 | -11.9% | -5.3% | -3.4% | |
| Q2 2025 | -12.6% | -17.2% | -16.7% | |
| Q1 2025 | -12.4% | -16.3% | -12.5% | |
| Q4 2024 | -10.5% | -11.8% | -31.7% | |
| Q3 2024 | +10.0% | +6.6% | +3.5% | |
| Q2 2024 | -16.3% | -17.5% | -16.0% | |
| Q1 2024 | -12.6% | -11.4% | -11.1% | |
| Q4 2023 | +19.6% | +40.6% | +49.6% | |
| Q3 2023 | +18.4% | +24.9% | +1.3% | |
| Q2 2023 | -9.3% | -4.7% | +5.7% | |
| Q1 2023 | -1.5% | +3.6% | -3.8% | |
| Q4 2022 | -11.9% | -6.0% | -7.0% | |
| Q3 2022 | +2.7% | -2.7% | -11.0% | |
| Q2 2022 | +10.5% | +16.2% | -9.7% | |
| Q1 2022 | -4.4% | -12.3% | -38.5% | |
| Q4 2021 | +22.6% | +9.3% | +4.5% | |
| Q3 2021 | +10.1% | +7.5% | -12.2% | |
| Q2 2021 | -19.3% | -21.0% | -26.2% | |
| Q1 2021 | +48.9% | +34.4% | +97.5% | |
| Q4 2020 | -8.2% | -13.0% | -16.7% | |
| Q3 2020 | -14.7% | -16.3% | +4.8% | |
| Q2 2020 | +48.7% | +59.3% | +26.6% | |
| Q1 2020 | -13.0% | -36.6% | -75.9% | |
| Q4 2019 | +25.6% | +29.0% | -2.4% | |
| Q3 2019 | +53.3% | +84.7% | +126.9% | |
| Q2 2019 | -15.2% | -15.7% | -18.0% | |
| Q1 2019 | +7.8% | +1.7% | -11.5% | |
| Q4 2018 | +6.4% | +0.0% | -29.1% | |
| Q3 2018 | +3.2% | +10.4% | +0.0% | |
| Q2 2018 | -3.0% | +0.0% | -13.4% | |
| Q1 2018 | -6.6% | -5.3% | -18.0% | |
| Q4 2017 | +4.9% | +7.5% | -4.1% | |
| Q3 2017 | -7.0% | -6.5% | +21.0% | |
| Q2 2017 | -9.6% | -9.2% | +11.6% | |
| Q1 2017 | -9.9% | -7.9% | -9.5% | |
| Q4 2016 | +2.5% | +9.8% | +11.5% | |
| Q3 2016 | -15.2% | -16.2% | -16.2% | |
| Q2 2016 | -14.0% | -8.3% | -11.4% | |
| Q1 2016 | -16.5% | — | — | |
| Q4 2015 | +7.6% | — | — | |
| Q3 2015 | +2.6% | — | — | |
| Q2 2015 | -8.5% | — | — | |
| Q1 2015 | -0.6% | — | — | |
| Q4 2014 | +10.0% | — | — | |
| Q3 2014 | +1.9% | — | — | |
| Q2 2014 | -2.8% | — | — | |
| Q1 2014 | -14.0% | — | — | |
| Q4 2013 | +7.6% | — | — | |
| Q3 2013 | +0.8% | — | — | |
| Q2 2013 | +2.3% | — | — | |
| Q1 2013 | -2.3% | — | — | |
| Q4 2012 | -3.5% | — | — | |
| Q3 2012 | -1.9% | — | — | |
| Q2 2012 | +22.4% | — | — | |
| Q1 2011 | +16.3% | — | — | |
| Q1 2012 | +16.3% | — | — | |
| Q4 2011 | +9.2% | — | — | |
| Q2 2011 | +9.2% | — | — | |
| Q4 2009 | +9.2% | — | — | |
| Q3 2010 | -12.2% | — | — | |
| Q4 2010 | -12.2% | — | — | |
| Q3 2011 | -12.2% | — | — | |
| Q2 2010 | -13.1% | — | — | |
| Q1 2010 | +2.4% | — | — |
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