Hovnanian Q1 loss narrows

Builder

After a weak November, sales activity rebounds in December and carries into the new year.

Hovnanian Enterprises, Inc. (NYSE: HOV) on Thursday morning reported a net loss of $17.5 million, or $0.12 per common share, in the first quarter of fiscal 2019 compared with a net loss of $30.8 million, or $0.21 per common share, during the same quarter a year ago. Analysts were expecting a loss of $0.10 per share.

Among the results:

Total revenues decreased to $380.6 million in the first quarter of fiscal 2019, compared with $417.2 million in the first quarter of fiscal 2018.

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March 8, 2019

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