Homebuilder Hovnanian reports a GAAP EPS loss of $0.70 and $705.7M revenue, missing analyst expectations by $0.14 and $17.8M respectively.
Hovnanian Enterprises reported a third-quarter GAAP loss of $0.70 per share, missing estimates by $0.14. Revenue totaled $705.7 million, down 11.9% year-over-year and $17.8 million below consensus.
The company’s revenue decline reflects broader challenges in the housing market, with total revenues falling from $800.6 million in the same period last year. Results remained within the guidance range provided earlier.
Shares may face pressure as investors assess the weaker-than-expected performance amid ongoing macroeconomic headwinds.