Published on 5 Dec 2023 on GuruFocus.com via Yahoo Finance
Hovnanian Enterprises Inc (HOV) Reports Strong Fiscal 2023 Fourth Quarter and Full Year Results
HOV reports $121 million in quarterly pretax income, the highest in over 16 years.Net contracts per community surged by 66% year-over-year.Book value escalated to $73 per share, an 80% increase from the previous year.Company's total liquidity reached a 14-year high at $564 million.
On December 5, 2023, Hovnanian Enterprises Inc (NYSE:HOV) released its 8-K filing, announcing its fiscal fourth quarter and full year results for the period ending October 31, 2023. The company reported a robust close to the fiscal year, with significant increases in pretax income, book value, and liquidity, alongside a notable rise in net contracts per community.
Fiscal Summary and Performance Highlights