Hovnanian Enterprises(HOV) - 2023 Q3 - Earnings Call Presentation

Financial Performance - Adjusted income before income taxes guidance for full year 2023 is between $66 million and $68 million[145] - Adjusted EBITDA for Q3 2023 was $109 million, compared to $87 million in Q2 2023 and $75 million in Q3 2022[112] - Adjusted homebuilding gross margin for Q3 2023 was 232%, compared to 215% in Q2 2023 and 263% in Q3 2022[92] - The company reduced total debt by $668 million since the beginning of fiscal year 2020[18] Land and Lots - Percentage of optioned lots has increased from 46% in Q3 2015 to 73% in Q3 2023[39] - Total lots controlled are 29487 in Q3 2023, including 8334 owned and 21598 optioned[63] - Years supply of owned lots is 16 years, while total lots is 25 years[48] Sales and Contracts - Contracts per community in Q3 2023, including build for rent, is 441[10] - Percentage of communities where prices were raised increased from 30% in Q1 2023 to 71% in Q3 2023[55] Balance Sheet and Liquidity - Total liquidity as of July 31, 2023, was $4555 million, including $3252 million of cash and cash equivalents, $53 million of restricted cash, and $125 million availability under the revolving credit facility[60, 84] - Net debt to net capitalization is projected to be 578% for FYE 2023[20]