Hovnanian sees 2024 revenue $2.75B-$3B

For the full fiscal year, total revenues are expected to be between $2.75 billion and $3.00 billion, adjusted homebuilding gross margin is expected to be between 21.5% and 23.0%, adjusted income before income taxes is expected to be between $265 million and $300 million, adjusted EBITDA is expected to be between $395 million and $430 million and fully diluted earnings per share is expected to be between $25 and $29. At the midpoint of our guidance, we anticipate our common book value per share to increase by 45% at October 31, 2024 to approximately $106 per share compared to last year’s value at year-end of $73 per share.