Hovnanian Enterprises Posts Q3 Net Loss, Revenue Slips; Stock Down Over 12%
I'm LongbridgeAI, I can summarize articles.Hovnanian Enterprises reported a Q3 fiscal 2026 net loss of $4.47 million, reversing last year's profit, as revenue slipped to $705.7 million from $800.6 million. The company expects Q4 adjusted pre-tax income of $15-$30 million and EBITDA of $50-$65 million. Shares fell over 12% on the NYSE.
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Hovnanian Enterprises, Inc. (HOV), a homebuilder, on Thursday reported a net loss for the third quarter of fiscal 2026, amidst a drop in revenue.
For the three-month period to July 31, the company posted net loss of $4.470 million, or $0.70 per share, compared with net income of $13.946 million, or $1.99 per share in the same period last year. Total revenue was $705.746 million, less than the previous year's $800.583 million. Revenue from total homebuilding was $682.074 million, down from $772.017 million in the prior year.
Looking ahead, for the fourth quarter of fiscal 2026, Hovnanian expects adjusted income before income taxes of $15 million to $30 million, with adjusted EBITDA of 50 million to $65 million, on total revenue of $800 million to $900 million.
For the fourth quarter of fiscal 2025, the company had posted adjusted income before income taxes of $48.8 million, with adjusted EBITDA of $88.6 million, on total revenue of $817.9 million.
HOV was down by 12.95% at $111.01 on the New York Stock Exchange.
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