Hovnanian Posts Q3 Loss, Misses Profit Target for First Time in 5 Years
HOV sits 33% above its 52-week low of $91.52.
Summary
Hovnanian swung to a Q3 fiscal 2026 net loss of $4.5M ($0.70/share) from a $13.9M profit a year ago, and adjusted pretax income fell slightly below guidance — the first such miss in over five years. Revenue dropped 12% to $705.7M, while gross margin improved sequentially for the second straight quarter to 14.6% before interest and land charges. Management blamed affordability pressures, elevated mortgage rates, and weak consumer confidence. Q4 guidance calls for revenue of $800M-$900M and adjusted EBITDA of $50M-$65M, implying a sharp sequential rebound. The stock trades at $122 with a $724M market cap, so the earnings miss and cautious outlook are material for positioning.
At the time of this announcement, HOV was trading at $122.00 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $723.9M. The 52-week trading range was $91.52 to $162.06. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.