Hovnanian 1Q Rev Higher But Notes Slower Start to Spring Selling Season

Dow Jones

Feb 24, 2025

By Denny Jacob

Hovnanian Enterprises posted higher results in the first quarter of fiscal 2025, a promising start ahead of the critical spring selling season that will determine much of the year for home builders at large.

The home builder logged net income of $28.2 million, or $3.58 a share, up from $23.9 million, or $2.91 a share, in the prior-year period.

Revenue rose to $673.6 million from $594.2 million.

"Despite the challenges presented by persistently high mortgage rates and monthly sales volatility, we have experienced healthy demand for our homes," said Chief Executive Ara Hovnanian. "Despite the slower start to the spring selling season and the month to month volatility, we are excited about the long-term fundamentals."

Hovnanian forecast revenue between $675 million and $775 million in the second quarter.

Shares are down 7% at $113.02.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

February 24, 2025 09:41 ET (14:41 GMT)

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Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4088","symbol_name":"住宅建筑","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2513722010","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2513722010","pubTimestamp":1740408060,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Hovnanian Enterprises posted higher results in the first quarter of fiscal 2025, a promising start ahead of the critical spring selling season that will determine much of the year for home builders at large.The home builder logged net income of $28.2 million, or $3.58 a share, up from $23.9 million, or $2.91 a share, in the prior-year period.Revenue rose to $673.6 million from $594.2 million.\"Despite the challenges presented by persistently high mortgage rates and monthly sales volatility, we have experienced healthy demand for our homes,\" said Chief Executive Ara Hovnanian. \"Despite the slower start to the spring selling season and the month to month volatility, we are excited about the long-term fundamentals.\". Hovnanian forecast revenue between $675 million and $775 million in the second quarter.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4088":"住宅建筑","HOV":"霍夫纳尼安"},"translate_title":"Hovnanian第一季度Rev走高，但指出春季销售季开始放缓","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HOV":0.9},"content_text":"By Denny Jacob \n\n\n \n\n\n  Hovnanian Enterprises posted higher results in the first quarter of fiscal 2025, a promising start ahead of the critical spring selling season that will determine much of the year for home builders at large. \n\n\n  The home builder logged net income of $28.2 million, or $3.58 a share, up from $23.9 million, or $2.91 a share, in the prior-year period. \n\n\n  Revenue rose to $673.6 million from $594.2 million. \n\n\n  \"Despite the challenges presented by persistently high mortgage rates and monthly sales volatility, we have experienced healthy demand for our homes,\" said Chief Executive Ara Hovnanian. \"Despite the slower start to the spring selling season and the month to month volatility, we are excited about the long-term fundamentals.\" \n\n\n  Hovnanian forecast revenue between $675 million and $775 million in the second quarter. \n\n\n   Shares are down 7% at $113.02. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 24, 2025 09:41 ET (14:41 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}