Hovnanian Enterprises Sees Q4 Sales $750M-$850M vs $803.578M Est; Sees Adjusted EBITDA Of $77M-$87M

FINANCIAL GUIDANCE(2):

The Company is providing guidance for total revenues, adjusted homebuilding gross margin, adjusted income before income taxes and adjusted EBITDA for the fourth quarter of fiscal 2025. Financial guidance below assumes no adverse changes in current market conditions, including deterioration in our supply chain or material increases in mortgage rates, inflation or cancellation rates, and excludes further impact to SG&A expenses from phantom stock expense related solely to stock price movements from the closing price of $119.47 on July 31, 2025.

For the fourth quarter of fiscal 2025, total revenues are expected to be between $750 million and $850 million, adjusted homebuilding gross margin is expected to be between 15.0% and 16.5%, adjusted income before income taxes is expected to be between $45 million and $55 million and adjusted EBITDA is expected to be between $77 million and $87 million.