v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Jul. 31, 2026
Jul. 31, 2025
Jul. 31, 2026
Jul. 31, 2025
Revenues $ 705,746 $ 800,583 $ 2,005,343 $ 2,160,677
Inventory impairments and land option write-offs     11,602 20,141
Corporate general and administrative 37,399 35,029 98,116 97,221
Other interest [1] 11,377 7,149 36,025 25,811
Other expense (income), net [2] 526 460 (30,182) (19,660)
Total expenses 711,918 792,292 1,984,808 2,104,640
Gain on extinguishment of debt, net 0 0 0 399
Income from unconsolidated joint ventures 3,397 15,511 5,731 33,759
(Loss) income before income taxes (2,775) 23,802 26,266 90,195
(Benefit) provision for income taxes (560) 7,187 8,217 25,663
Net (loss) income (2,215) 16,615 18,049 64,532
Less: net (loss) income attributable to noncontrolling interest (414) 0 (725) 0
Net (loss) income attributable to Hovnanian Enterprises, Inc. (1,801) 16,615 18,774 64,532
Less: preferred stock dividends 2,669 2,669 8,007 8,007
Net (loss) income available to common stockholders $ (4,470) $ 13,946 $ 10,767 $ 56,525
Net (loss) income per common share (in dollars per share) $ (0.7) $ 2.14 $ 1.65 $ 8.55
Weighted-average number of common shares outstanding basic (in shares) 6,412 6,399 6,439 6,442
Net (loss) income per common share (in dollars per share) $ (0.7) $ 1.99 $ 1.55 $ 7.94
Weighted-average number of common shares outstanding (in shares) 6,412 6,887 6,840 6,936
Home Building [Member]        
Revenues $ 682,074 $ 772,017 $ 1,939,265 $ 2,093,851
Cost of sales, excluding interest 579,576 636,256 1,620,268 1,712,835
Cost of sales interest 19,098 26,868 51,655 66,162
Inventory impairments and land option write-offs 493 16,045 11,602 20,141
Total cost of sales 599,167 679,169 1,683,525 1,799,138
Selling, general and administrative 49,469 55,770 156,748 161,087
Total expenses excluding Corporate general and administrative, Other interest and Other expenses, net 648,636 734,939 1,840,273 1,960,225
Home Building [Member] | Sale of homes [Member]        
Revenues 679,042 769,050 1,858,989 2,066,278
Home Building [Member] | Land Sales and Other Revenues [Member]        
Revenues 3,032 2,967 80,276 27,573
Financial Services [Member]        
Revenues 23,672 28,566 66,078 66,826
Total expenses excluding Corporate general and administrative, Other interest and Other expenses, net $ 13,980 $ 14,715 $ 40,576 $ 41,043
[1]

During the three and nine months ended July 31, 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 nine months ended July 31, 2026, and $22.7 million gain on contribution of assets to a joint venture for the nine months ended July 31, 2025 (see note 18).