HOVNANIAN ENTERPRISES INC PRF STK SERIES 'A' USD25.00 | 10-Q: FY2025 Q2 Revenue: USD 686.47 M

Revenue: As of FY2025 Q2, the actual value is USD 686.47 M.

EPS: As of FY2025 Q2, the actual value is USD 2.43.

EBIT: As of FY2025 Q2, the actual value is USD 26.53 M.

Northeast Segment

• Revenue: $257.3 million for the three months ended April 30, 2025, an increase of 29.2% from the prior year period.
• Income Before Income Taxes: $31.4 million for the three months ended April 30, 2025, a decrease of 1.0% from the prior year period.
• Homes Delivered: 450 homes, a 36.0% increase from the prior year period.
• Average Sales Price: $569,811, a decrease of 4.6% from the prior year period.

Southeast Segment

• Revenue: $74.7 million for the three months ended April 30, 2025, a decrease of 42.0% from the prior year period.
• Income Before Income Taxes: $0.4 million for the three months ended April 30, 2025, a decrease of 98.6% from the prior year period.
• Homes Delivered: 153 homes, a 37.8% decrease from the prior year period.
• Average Sales Price: $487,601, a decrease of 6.6% from the prior year period.

West Segment

• Revenue: $332.4 million for the three months ended April 30, 2025, a decrease of 8.0% from the prior year period.
• Income Before Income Taxes: $18.9 million for the three months ended April 30, 2025, a decrease of 46.8% from the prior year period.
• Homes Delivered: 682 homes, a 3.4% decrease from the prior year period.
• Average Sales Price: $468,176, a decrease of 8.4% from the prior year period.

Financial Services

• Revenue: $21.3 million for the three months ended April 30, 2025, an increase of 24.2% from the prior year period.
• Income Before Income Taxes: $8.4 million for the three months ended April 30, 2025, an increase from $5.1 million in the prior year period.

Cash Flow

• Operating Cash Flow: Net cash used in operating activities was -$33.6 million for the six months ended April 30, 2025.
• Free Cash Flow: Not explicitly stated, but significant cash was used for land purchases and development, debt redemption, and stock repurchases.

Future Outlook and Strategy

• Core Business Focus: The company plans to continue using its inventory of quick move-in homes to meet buyer needs and offer mortgage interest rate buydown assistance to ease the impact of higher monthly payments.
• Non-Core Business: The company is involved in joint ventures to access lot positions and expand market opportunities, with no guarantees other than performance and completion of development activities.