Hovnanian Swings to Loss as Housing Market Remains Frozen

Dow Jones05-21

By Nicholas G. Miller

Hovnanian Enterprises swung to a second-quarter loss as the war in the Middle East pushed up mortgage rates, sending potential homebuyers to the sidelines.

"We began our second quarter with encouraging sales momentum, but escalating geopolitical tensions, particularly the war in Iran, reignited inflation concerns and caused many homebuyers to hesitate," said Chief Executive Ara Hovnanian.

The homebuilder posted a loss of $284,000 for its second quarter ended April 30, compared with a profit of $19.7 million a year earlier. On a per-share basis, the company reported a loss of 46 cents a share, compared with a profit of $2.43 a share a year prior.

Revenue fell to $667.6 million from $686.5 million.

Homebuilding gross margin percentage, before cost of sales, interest expense and land charges, was 14.3%, down from 17.3% in the prior-year's second quarter.

For the third quarter, total revenue is expected to be between $650 million and $750 million and adjusted homebuilding gross margin is expected to be between 14% and 15%

"In today's environment, it's difficult to provide meaningful visibility beyond the next quarter. However, if current housing conditions continue, we expect a significant step-up in our fourth quarter performance, particularly in volume and gross margins, driven by deliveries from newer communities," Hovnanian said.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

May 21, 2026 09:42 ET (13:42 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2637331220?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-05-21 21:42","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2637331220","market":"other","top_or_hot":-1,"title":"Hovnanian Swings to Loss as Housing Market Remains Frozen","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Nicholas G. Miller \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/HOVNP\">Hovnanian Enterprises</a> swung to a second-quarter loss as the war in the Middle East pushed up mortgage rates, sending potential homebuyers to the sidelines. \n</p>\n<p>\n  \"We began our second quarter with encouraging sales momentum, but escalating geopolitical tensions, particularly the war in Iran, reignited inflation concerns and caused many homebuyers to hesitate,\" said Chief Executive Ara Hovnanian. \n</p>\n<p>\n  The homebuilder posted a loss of $284,000 for its second quarter ended April 30, compared with a profit of $19.7 million a year earlier. On a per-share basis, the company reported a loss of 46 cents a share, compared with a profit of $2.43 a share a year prior. \n</p>\n<p>\n  Revenue fell to $667.6 million from $686.5 million. \n</p>\n<p>\n  Homebuilding gross margin percentage, before cost of sales, interest expense and land charges, was 14.3%, down from 17.3% in the prior-year's second quarter. \n</p>\n<p>\n  For the third quarter, total revenue is expected to be between $650 million and $750 million and adjusted homebuilding gross margin is expected to be between 14% and 15% \n</p>\n<p>\n  \"In today's environment, it's difficult to provide meaningful visibility beyond the next quarter. However, if current housing conditions continue, we expect a significant step-up in our fourth quarter performance, particularly in volume and gross margins, driven by deliveries from newer communities,\" Hovnanian said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Nicholas G. Miller at nicholas.miller@wsj.com. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 21, 2026 09:42 ET (13:42 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hovnanian Swings to Loss as Housing Market Remains Frozen</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHovnanian Swings to Loss as Housing Market Remains Frozen\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-21 21:42</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Nicholas G. Miller \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/HOVNP\">Hovnanian Enterprises</a> swung to a second-quarter loss as the war in the Middle East pushed up mortgage rates, sending potential homebuyers to the sidelines. \n</p>\n<p>\n  \"We began our second quarter with encouraging sales momentum, but escalating geopolitical tensions, particularly the war in Iran, reignited inflation concerns and caused many homebuyers to hesitate,\" said Chief Executive Ara Hovnanian. \n</p>\n<p>\n  The homebuilder posted a loss of $284,000 for its second quarter ended April 30, compared with a profit of $19.7 million a year earlier. On a per-share basis, the company reported a loss of 46 cents a share, compared with a profit of $2.43 a share a year prior. \n</p>\n<p>\n  Revenue fell to $667.6 million from $686.5 million. \n</p>\n<p>\n  Homebuilding gross margin percentage, before cost of sales, interest expense and land charges, was 14.3%, down from 17.3% in the prior-year's second quarter. \n</p>\n<p>\n  For the third quarter, total revenue is expected to be between $650 million and $750 million and adjusted homebuilding gross margin is expected to be between 14% and 15% \n</p>\n<p>\n  \"In today's environment, it's difficult to provide meaningful visibility beyond the next quarter. However, if current housing conditions continue, we expect a significant step-up in our fourth quarter performance, particularly in volume and gross margins, driven by deliveries from newer communities,\" Hovnanian said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Nicholas G. Miller at nicholas.miller@wsj.com. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 21, 2026 09:42 ET (13:42 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HOV","symbol_name":"霍夫纳尼安","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2637331220","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2637331220","pubTimestamp":1779370920,"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 swung to a second-quarter loss as the war in the Middle East pushed up mortgage rates, sending potential homebuyers to the sidelines.\"We began our second quarter with encouraging sales momentum, but escalating geopolitical tensions, particularly the war in Iran, reignited inflation concerns and caused many homebuyers to hesitate,\" said Chief Executive Ara Hovnanian.The homebuilder posted a loss of $284,000 for its second quarter ended April 30, compared with a profit of $19.7 million a year earlier. On a per-share basis, the company reported a loss of 46 cents a share, compared with a profit of $2.43 a share a year prior.Homebuilding gross margin percentage, before cost of sales, interest expense and land charges, was 14.3%, down from 17.3% in the prior-year's second quarter.For the third quarter, total revenue is expected to be between $650 million and $750 million and adjusted homebuilding gross margin is expected to be between 14% and 15%. \"In today's environme","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"HOV":"霍夫纳尼安","BK4088":"住宅建筑"},"translate_title":"由于房地产市场仍然冻结，Hovnanian陷入亏损","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HOV":0.9},"content_text":"By Nicholas G. Miller \n\n\n \n\n\nHovnanian Enterprises swung to a second-quarter loss as the war in the Middle East pushed up mortgage rates, sending potential homebuyers to the sidelines. \n\n\n  \"We began our second quarter with encouraging sales momentum, but escalating geopolitical tensions, particularly the war in Iran, reignited inflation concerns and caused many homebuyers to hesitate,\" said Chief Executive Ara Hovnanian. \n\n\n  The homebuilder posted a loss of $284,000 for its second quarter ended April 30, compared with a profit of $19.7 million a year earlier. On a per-share basis, the company reported a loss of 46 cents a share, compared with a profit of $2.43 a share a year prior. \n\n\n  Revenue fell to $667.6 million from $686.5 million. \n\n\n  Homebuilding gross margin percentage, before cost of sales, interest expense and land charges, was 14.3%, down from 17.3% in the prior-year's second quarter. \n\n\n  For the third quarter, total revenue is expected to be between $650 million and $750 million and adjusted homebuilding gross margin is expected to be between 14% and 15% \n\n\n  \"In today's environment, it's difficult to provide meaningful visibility beyond the next quarter. However, if current housing conditions continue, we expect a significant step-up in our fourth quarter performance, particularly in volume and gross margins, driven by deliveries from newer communities,\" Hovnanian said. \n\n\n \n\n\n  Write to Nicholas G. Miller at nicholas.miller@wsj.com. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 21, 2026 09:42 ET (13:42 GMT)\n\n\n  Copyright (c) 2026 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":"-1","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2637331220","isCrawlerRequest":true}