Hovnanian Enterprises(HOV) - 2023 Q2 - Earnings Call Presentation

Financial Performance - Total liquidity is comprised of $3333 million of cash and cash equivalents, $55 million of restricted cash, and $1250 million availability under the senior secured revolving credit facility as of April 30, 2023[45] - The company retired $494 million of debt since the beginning of fiscal 2020[22] - In May 2023, the company retired $100 million of debt[22] - Adjusted EBITDA for Q2 2023 was $88 million, compared to $46 million in Q2 2022[68] Land and Inventory - Option deposits as of April 30, 2023, were $184 million[9] - $30 million was invested in pre-development expenses as of April 30, 2023[9] - The company controlled 28,657 owned lots and 20,402 optioned lots as of Q2 2023[134] - The percentage of optioned lots was 30% as of Q2 2023[107] Sales and Contracts - The number of monthly contracts per community, excluding unconsolidated joint ventures, is shown in a graph[8] - Cancellation rates are between 16% and 24% from May-22 to May-23[78] - The company has 542 quick move-in homes (QMIs) at 04/30/23, excluding models[81] - The company raised home prices in many of its communities[83]