Hovnanian Logs $0.6M Q2 Loss on $667.6M Revenue, Rebounds Margin
HOV•Hovnanian Enterprises swung to a fiscal second-quarter loss of $0.6M (46¢ per share) on $667.6M revenue, down from $686.5M a year earlier. It expects Q3 revenue of $650M–$750M, ended the quarter with $442M liquidity and saw gross margins recover sequentially to 14.3% from its Q1 trough.
1. Fiscal Q2 Financial Results
Hovnanian reported a net loss of $0.6 million, or $0.46 per diluted share, in its fiscal second quarter ended April 30, 2026, on revenue of $667.6 million compared with $686.5 million a year earlier. Domestic unconsolidated joint venture home sales fell to $125.9 million from $144.5 million in Q2 2025.
2. Liquidity and Guidance
The company ended the quarter with $442 million of liquidity, well above its target range, and issued revenue guidance for the quarter ending July of $650 million to $750 million.
3. Margin and Operational Metrics
Homebuilding gross margin before cost of sales interest and land charges rebounded sequentially to 14.3%, above the high end of its guidance range but down from 17.3% in Q2 2025. Consolidated domestic contracts rose 1.0% to 1,412 homes valued at $759.9 million.
