Three Months Ended

Six Months Ended

April 30,

April 30,

(In thousands, except per share data)

2026

2025

2026

2025

Numerator:

Net (loss) income attributable to Hovnanian Enterprises, Inc.

$

$

19,726

$

20,575

$

47,917

Less: preferred stock dividends

Less: undistributed earnings allocated to participating securities

-

Numerator for basic (loss) earnings per share

$

$

16,913

$

15,233

$

42,229

Plus: undistributed earnings allocated to participating securities

-

144

4

350

Less: undistributed earnings reallocated to participating securities

-

Numerator for diluted (loss) earnings per share

$

$

16,913

$

15,230

$

42,228

Denominator:

Denominator for basic earnings per share – weighted average shares outstanding

6,416

6,411

6,453

6,464

Effect of dilutive securities:

Stock-based payments

-

540

456

547

Denominator for diluted earnings per share – weighted-average shares outstanding

6,416

6,951

6,909

7,011

Basic (loss) earnings per share

$

$

2.64

$

2.36

$

6.53

Diluted (loss) earnings per share

$

$

2.43

$

2.20

$

6.02