Hovnanian Enterprises Inc. Q3 Profit Falls

(RTTNews) - Hovnanian Enterprises Inc. (HOV) announced earnings for third quarter that Dropped, from last year

The company's earnings came in at $13.946 million, or $1.99 per share. This compares with $70.250 million, or $9.75 per share, last year.

The company's revenue for the period rose 10.8% to $800.583 million from $722.704 million last year.

Hovnanian Enterprises Inc. earnings at a glance (GAAP) :

-Earnings: $13.946 Mln. vs. $70.250 Mln. last year. -EPS: $1.99 vs. $9.75 last year. -Revenue: $800.583 Mln vs. $722.704 Mln last year.

Looking ahead, for the fourth quarter, Hovnanian Enterprises anticipates a steep decline in adjusted EBITDA and revenue.

For the fourth quarter of fiscal 2025, the company expects adjusted EBITDA of $77 million to $87 million, on revenue of $750 million to $850 million.

For the final quarter of fiscal 2024, Hovnanian Enterprises had reported adjusted EBITDA of $158.954 million, on revenue of $979.638 million.