Hovnanian Enterprises, Inc. reported a 5% year-over-year increase in domestic consolidated communities, with a total liquidity of $471 million. Domestic contracts, including unconsolidated joint ventures, increased 11% year-over-year for January and 13% for February compared to the same period last year. Total revenues for the first quarter of fiscal 2026 were $632.0 million, exceeding guidance. Homebuilding gross margin percentage was 10.1% for the quarter.

The company’s income before income taxes for the first quarter of fiscal 2026 was $28.7 million, with net income at $20.9 million. Adjusted EBITDA for the quarter was $63.1 million, exceeding guidance. Consolidated domestic contracts for the first quarter increased by 3.1% to 1,242 homes. Total liquidity as of January 31, 2026, was $471.4 million, significantly above the target range.

Hovnanian Enterprises provided financial guidance for the second quarter of fiscal 2026, including expectations for total revenues, adjusted homebuilding gross margin, adjusted income before income taxes, and adjusted EBITDA. The company aims for adjusted income before income taxes to increase in the second half of fiscal 2026 compared to the first half. The long-term outlook for the homebuilding industry remains compelling, with a focus on operational excellence and capitalizing on market opportunities.

Management at Hovnanian Enterprises expressed satisfaction with meeting or exceeding all guidance metrics despite global uncertainties affecting the sales environment. The company’s strong operating model and disciplined approach contributed to success. The focus remains on delivering superior returns for shareholders over the long term. A webcast of the fiscal 2026 first quarter results conference call will be available on the company’s website.

Read more at GlobeNewswire: Hovnanian Enterprises Reports Fiscal 2026 First Quarter