Core Insights - Hovnanian Enterprises, Inc. reported a 3.1% decrease in total revenues for the second quarter of fiscal 2025, totaling $686.5 million, compared to $708.4 million in the same quarter of the previous year [2] - The company achieved a 15% year-over-year increase in consolidated community count and controlled lots [1] - The return on equity (ROE) for the trailing twelve months was 27.0%, marking the second highest among midsized homebuilders [3] Financial Performance - Total revenues for the first half of fiscal 2025 increased by 4.4% to $1.36 billion compared to $1.30 billion in the first half of fiscal 2024 [2] - Domestic unconsolidated joint ventures' home sales revenues rose by 21.4% to $144.5 million in the second quarter, with 207 homes sold [2] - Homebuilding gross margin percentage decreased to 13.8% in the second quarter from 19.5% in the prior year [2][24] Income and Expenses - Income before income taxes for the second quarter was $26.5 million, down from $69.4 million in the same quarter last year [2] - Net income for the second quarter was $19.7 million, or $2.43 per diluted share, compared to $50.8 million, or $6.66 per diluted share, in the prior year [2][21] - Total SG&A expenses were $80.6 million, or 11.7% of total revenues, compared to $79.0 million, or 11.2% of total revenues, in the same quarter of the previous year [2] Contracts and Backlog - Consolidated contracts decreased by 7.5% year-over-year to 1,398 homes in the second quarter [2] - The dollar value of consolidated contract backlog decreased by 12.5% to $988.2 million as of April 30, 2025, compared to $1.13 billion a year earlier [2] - The gross contract cancellation rate for consolidated contracts was 15% in the second quarter, up from 14% in the previous year [3] Liquidity and Capital Management - Total liquidity as of April 30, 2025, was $202.4 million, within the targeted range of $170 million to $245 million [9] - The company redeemed $26.6 million of senior notes due in 2026 and repurchased 126,448 shares of common stock for $12.2 million [9][8] - Land and land development spending was $219.8 million in the second quarter, down from $230.5 million in the same quarter last year [9] Guidance - For the third quarter of fiscal 2025, total revenues are expected to be between $750 million and $850 million, with adjusted homebuilding gross margin projected between 17.0% and 18.0% [6]

Core Points - Hovnanian Enterprises, Inc. signed a strategic Memorandum of Understanding (MOU) with Saudi Arabia's NHC to enhance collaboration in real estate development [1][3] - The MOU aims to support Saudi Arabia's Vision 2030 by forming joint working groups and pursuing opportunities within NHC projects [3][4] - Hovnanian has a history of delivering over 376,000 homes in the U.S. and has been active in Saudi Arabia since 2013, delivering over 2,450 homes [4] Company Overview - Hovnanian Enterprises, Inc. is one of the largest homebuilders in the U.S., founded in 1959 and headquartered in Matawan, New Jersey [6] - The company operates in multiple states including Arizona, California, and Texas, and markets homes under the K. Hovnanian® Homes brand [6] Strategic Importance - The signing of the MOU coincided with President Trump's visit to Saudi Arabia, highlighting the importance of U.S.-Saudi commercial ties [1][2] - The partnership is expected to contribute to the ambitious housing initiatives under Vision 2030, aiming to create vibrant communities in Saudi Arabia [3][6]

Core Points - Hovnanian Enterprises, Inc. will release its financial results for the second quarter ended April 30, 2025, on May 20, 2025 [1] - The earnings conference call will be webcast live at 11:00 a.m. (ET) on the same day [1] - An archive of the webcast will be available for 12 months on the company's Investor Relations page [2] Company Overview - Hovnanian Enterprises, Inc. is one of the largest homebuilders in the United States, founded in 1959 and headquartered in Matawan, New Jersey [3] - The company operates in multiple states including Arizona, California, Florida, and Texas, and markets homes under the K. Hovnanian Homes brand [3] - It is also a significant builder of active lifestyle communities through its subsidiaries [3] Investor Relations - Additional information can be accessed through the Investor Relations section of the company's website [4] - Interested parties can join Hovnanian's investor email list by contacting the company via email or signing up on their website [4]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended OCTOBER 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 1-8551 Hovnanian Enterprises, Inc. (Exact Name of Registrant as Specified in Its Charter) 90 Matawan Road, Fifth Floor, Matawan, NJ 07747 (Address of Principal Executi ...