Three Months Ended

Nine Months Ended

July 31,

July 31,

(In thousands, except per share data)

2026

2025

2026

2025

Numerator:

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

$

$

16,615

$

18,774

$

64,532

Less: preferred stock dividends

Less: undistributed earnings allocated to participating securities

-

Numerator for basic (loss) earnings per share

$

$

13,713

$

10,607

$

55,097

Plus: undistributed earnings allocated to participating securities

-

233

161

1,428

Less: undistributed earnings reallocated to participating securities

-

Numerator for diluted (loss) earnings per share

$

$

13,712

$

10,592

$

55,090

Denominator:

Denominator for basic earnings per share – weighted average shares outstanding

6,412

6,399

6,439

6,442

Effect of dilutive securities:

Stock-based payments

-

488

401

494

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

6,412

6,887

6,840

6,936

Basic (loss) earnings per share

$

$

2.14

$

1.65

$

8.55

Diluted (loss) earnings per share

$

$

1.99

$

1.55

$

7.94