v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Apr. 30, 2026
Apr. 30, 2025
Apr. 30, 2026
Apr. 30, 2025
Revenues $ 667,645 $ 686,471 $ 1,299,597 $ 1,360,094
Inventory impairments and land option write-offs     11,109 4,096
Corporate general and administrative 26,999 29,500 60,717 62,192
Other interest [1] 12,490 9,145 24,648 18,662
Other expense (income), net [2] 575 500 (30,708) (20,120)
Total expenses 666,200 669,383 1,272,890 1,312,348
Gain on extinguishment of debt, net 0 399 0 399
(Loss) income from unconsolidated joint ventures (1,106) 9,043 2,334 18,248
Income before income taxes 339 26,530 29,041 66,393
Provision for income taxes 934 6,804 8,777 18,476
Net (loss) income (595) 19,726 20,264 47,917
Less: net (loss) income attributable to noncontrolling interest (311) 0 (311) 0
Net (loss) income attributable to Hovnanian Enterprises, Inc. (284) 19,726 20,575 47,917
Less: preferred stock dividends 2,669 2,669 5,338 5,338
Net (loss) income available to common stockholders $ (2,953) $ 17,057 $ 15,237 $ 42,579
Net (loss) income per common share (in dollars per share) $ (0.46) $ 2.64 $ 2.36 $ 6.53
Weighted-average number of common shares outstanding basic (in shares) 6,416 6,411 6,453 6,464
Net (loss) income per common share (in dollars per share) $ (0.46) $ 2.43 $ 2.2 $ 6.02
Weighted-average number of common shares outstanding (in shares) 6,416 6,951 6,909 7,011
Home Building [Member]        
Revenues $ 644,247 $ 665,153 $ 1,257,191 $ 1,321,834
Cost of sales, excluding interest 531,061 543,289 1,040,692 1,076,579
Cost of sales interest 15,966 19,938 32,557 39,294
Inventory impairments and land option write-offs 8,750 3,056 11,109 4,096
Total cost of sales 555,777 566,283 1,084,358 1,119,969
Selling, general and administrative 56,998 51,064 107,279 105,317
Total expenses excluding Corporate general and administrative, Other interest and Other expenses, net 612,775 617,347 1,191,637 1,225,286
Home Building [Member] | Sale of homes [Member]        
Revenues 604,188 650,314 1,179,947 1,297,228
Home Building [Member] | Land Sales and Other Revenues [Member]        
Revenues 40,059 14,839 77,244 24,606
Financial Services [Member]        
Revenues 23,398 21,318 42,406 38,260
Total expenses excluding Corporate general and administrative, Other interest and Other expenses, net $ 13,361 $ 12,891 $ 26,596 $ 26,328
[1]

During the three and six months ended April 30, 2026 and 2025, respectively, our inventory under development exceeded our debt, therefore, all of the related interest incurred qualified for interest capitalization. Other interest includes interest on completed homes, land in planning and fully developed lots without homes under construction, which does not qualify for capitalization, and therefore, is expensed as incurred.
[2] Includes $26.8 million gain on consolidation of joint ventures for the six months ended April 30, 2026, and $22.7 million gain on contribution of assets to a joint venture for the six months ended April 30, 2025 (see note 18).