<div id="readability-page-1"><div>Overview<ul><li>Hovnanian Q3 fiscal revenue rises 10.8% to $800.6 mln, meeting estimates</li><li>Net income for fiscal Q3 falls to $16.6 mln from $72.9 mln a year ago</li><li>86% of total lots are optioned, highest percentage ever achieved</li></ul>Outlook<ul><li>Company expects Q4 revenue between $750 mln and $850 mln</li><li>Hovnanian sees Q4 adjusted homebuilding gross margin at 15%-16.5%</li><li>Company anticipates Q4 adjusted EBITDA between $77 mln and $87 mln</li><li>Hovnanian projects Q4 adjusted income before taxes of $45 mln-$55 mln</li></ul>Result Drivers<ul><li>REVENUE INCREASE - Total revenues rose 10.8% to $800.6 mln in Q3, driven by a 9.3% increase in domestic unconsolidated joint ventures' home sales revenues to $165.0 mln</li><li>GROSS MARGIN DECLINE - Homebuilding gross margin percentage, after cost of sales interest expense and land charges, decreased to 11.7% from 19.1% a year ago, with a noted increase in land charges from 0.1% to 2.1%</li><li>CONTRACTS GROWTH - Consolidated contracts in Q3 increased 1.6% to 1,211 homes, while contracts including domestic unconsolidated joint ventures rose 1.4% to 1,416 homes</li></ul>Key Details<div><table><tbody><tr><td>Metric</td><td>Beat/Miss</td><td>Actual</td><td>Consensus Estimate</td></tr><tr><td>Q3 Revenue</td><td>Miss</td><td>$800.58 mln</td><td>$801.20 mln (1 Analyst)</td></tr><tr><td>Q3 EPS</td><td></td><td>$2.14</td><td></td></tr><tr><td>Q3 Net Income</td><td></td><td>$16.62 mln</td><td></td></tr><tr><td>Q3 Pretax Profit</td><td></td><td>$23.80 mln</td><td></td></tr></tbody></table></div>Analyst Coverage<ul><li>The one available analyst rating on the shares is &#34;hold&#34;</li><li>The average consensus recommendation for the homebuilding peer group is &#34;hold&#34;</li><li>Wall Street's median 12-month price target for Hovnanian Enterprises Inc is $120.00, about 24.1% below its August 20 closing price of $148.95</li></ul>Press Release: </div></div>

Hovnanian Enterprises reported a 10.8% increase in Q3 revenue, reaching $800.6 million, although net income fell to $16.6 million from $72.9 million a year prior. The company anticipates Q4 revenue between $750 million and $850 million, with adjusted homebuilding gross margins projected at 15%-16.5%. Despite a rise in total contracts, gross margin percentage declined to 11.7% due to increased land charges. Analysts maintain a 'hold' rating, with a 12-month price target of $120.00, reflecting a 24.1% decrease from the recent closing price.

霍夫纳尼安企业第三季度收入因房屋销售强劲增长而增加了 10.8%