HOV News & Events

Reports Q1 revenue $632M vs. $673.6M last year. "Even with a challenging sales environment this quarter, related to cautious homebuyers and ongoing global uncertainties, I am satisfied to report that our team successfully met or exceeded all aspects of our guidance," said Ara Hovnanian, CEO. "Our strong operating model and disciplined approach allowed us to stay focused on sales pace and adapt quickly to changing conditions. Our operating model has helped us stay among the top two for Adjusted EBIT ROI when compared to nine other publicly traded midsized homebuilders. Achieving our guidance in this environment highlights the dedication and resilience of our associates. Although we are not satisfied with our projected profits for the second quarter, we anticipate our adjusted income before income taxes to increase in the second half of fiscal 2026, weighted towards the fourth quarter, compared to the first half of the year. Over the past six fiscal years, our profits have typically improved in the second half. We're optimistic because we've seen better contract activity in January and February, and we anticipate delivering more homes from newer, higher-margin communities in the latter part of the year, including a higher percentage of higher margined to-be-built homes. Looking ahead, the long-term outlook for the homebuilding industry remains compelling, supported by a structurally undersupplied market and strong demographic trends. We are disciplined in our approach to pricing, product positioning, and capital allocation, which helps us remain competitive throughout different market cycles. While near-term volatility may persist in the current uncertain housing market, our focus remains on delivering superior returns for our shareholders over the long term. We are confident that our strategy and operational excellence will enable us to capitalize on opportunities as the housing market evolves."

The company said, "The Company is providing guidance for total revenues, adjusted homebuilding gross margin, adjusted income before income taxes and adjusted EBITDA for the second quarter of fiscal 2026. Financial guidance below assumes no adverse changes in current market conditions, including deterioration in our supply chain or material increases in mortgage rates, inflation or cancellation rates, and excludes further impact to SG&A expenses from phantom stock expense related solely to stock price movements from the closing price of $112.65 on January 31, 2026. For the second quarter of fiscal 2026, total revenues are expected to be between $625M and $725M, adjusted homebuilding gross margin is expected to be between 13.0% and 14.0%, adjusted income before income taxes is expected to be between breakeven and $10M and adjusted EBITDA is expected to be between $30M and $40M."

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.ANTITRUST PROBE:The Trump administration is exploring opening an antitrust investigation into homebuilders, Patrick Clark and Leah Nylen of Bloomberg report, citing people familiar with the discussions. The Department of Justice could open the probe in the coming weeks, with a potential focus on how information is shared through the Leading Builders of America trade group, sources told Bloomberg. The White House has grown concerned that the trade group could be used to restrict housing supply or coordinate pricing, the people added. Lennar and DR Horton are members of the group, Bloomberg notes. Publicly traded companies in the homebuilder space include Beazer Homes, D.R. Horton, Hovnanian, KB Home, Lennar, M.D.C. Holdings, PulteGroupand Toll Brothers.NEXSTAR-TEGNA MERGER:On Truth Social, U.S. President Donald Trump vocalized support for Nexstar-Tegnamerger, writing that, "We need more competition against THE ENEMY, the Fake News National TV Networks. Letting Good Deals get done like Nexstar - Tegna will help knock out the Fake News because there will be more competition, and at a higher and more sophisticated level. Those that are opposed don't fully understand how good the concept of this Deal is for them, but they will in the future. GET THAT DEAL DONE! PRESIDENT DJT."TRUMPRX DISCOUNT CARDS:CVS Healthannounced that its approximately 9,000 community pharmacies are accepting TrumpRx discount cards, which offer savings on certain medications for those who are eligible, as determined by the drug manufacturers. Eligible patients can bring their printed discount cards and savings can be applied at the pharmacy counter. In addition, CVS Pharmacy is a retail pharmacy partner for NovoCare and was the first to build a streamlined NovoCare enrollment experience. CVS Specialty Pharmacy also supports patients accessing reduced pricing on fertility medication via the TrumpRx Fertility program.

The Trump administration is exploring opening an antitrust investigation into homebuilders, Patrick Clark and Leah Nylen of Bloomberg report, citing people familiar with the discussions. The Department of Justice could open the probe in the coming weeks, with a potential focus on how information is shared through the Leading Builders of America trade group, sources told Bloomberg. The White House has grown concerned that the trade group could be used to restrict housing supply or coordinate pricing, the people added. Lennar and DR Horton are members of the group, Bloomberg notes. Publicly traded companies in the homebuilder space include Beazer Homes (BZH), D.R. Horton (DHI), Hovnanian (HOV), KB Home (KBH), Lennar (LEN), M.D.C. Holdings (MDC), PulteGroup (PHM) and Toll Brothers (TOL).