Hovnanian Enterprises(US:HOV)2025-08-21 15:00Q3 2025 Financial Performance - Total revenues for Q3 2025 were $801 million, compared to a guidance of $750-$850 million[12] - Adjusted homebuilding gross margin for Q3 2025 was 173%, within the guidance of 170%-180%[12] - Total SG&A as a percentage of total revenues was 113% for Q3 2025, within the guidance of 110%-120%[12] - Adjusted income before income taxes for Q3 2025 was $40 million, meeting the high end of the guidance of $30-$40 million[12] - Adjusted EBITDA for Q3 2025 was $77 million, exceeding the guidance of $60-$70 million[12] Year-Over-Year Comparison - Total revenues increased from $723 million in Q3 2024 to $801 million in Q3 2025[16] - Adjusted gross margin decreased from 221% in Q3 2024 to 173% in Q3 2025[16] - Adjusted income before income taxes decreased from $100 million in Q3 2024 to $40 million in Q3 2025[18] Contracts and Community Count - Total lots controlled were 43343 as of July 31 2025[50, 52] - The company had 146 communities in Q3 2025, the same as in Q3 2024[48] Liquidity and Debt - Total liquidity as of July 31, 2025, was $1466 million in cash and cash equivalents, $63 million in restricted cash, and $1250 million available under a senior secured revolving credit facility[8] - Total debt outstanding as of July 31, 2025, was $855 million, with annual interest incurred at $87 million[68]