Hovnanian (HOV) reported earnings on Thur 7 June 2018 (b/o)

** charts after earnings **

 

Hovnanian misses by $0.02, misses on revs 

• Reports Q2 (Apr) loss of $0.07 per share, $0.02 worse than the two analyst estimate of ($0.05); revenues fell 14.2% year/year to $502.5 mln vs the $511.1 mln two analyst estimate.
• Homebuilding gross margin percentage, after cost of sales interest expense and land charges, was 13.8% for the second quarter of fiscal 2018 compared with 12.6% in the prior year's second quarter.
• The dollar value of contract backlog, including unconsolidated joint ventures, as of April 30, 2018, was $1.34 billion, an increase of 5.6% compared with $1.27 billion as of April 30, 2017.