Brief: Hovnanian Enterprises Reports Q2 Loss Per Share $2.56

Hovnanian Enterprises

06/06/2019 15:01

June 6 (Reuters) - Hovnanian Enterprises Inc  HOV.N :
    * HOVNANIAN ENTERPRISES REPORTS FISCAL 2019 SECOND QUARTER
RESULTS
    * Q2 LOSS PER SHARE $2.56
    * Q2 REVENUE $440.7 MILLION VERSUS $502.5 MILLION
    * QTRLY CONSOLIDATED CONTRACTS GREW 10% YEAR OVER YEAR
    * EXPECT SECOND HALF OF YEAR TO SUBSTANTIALLY OUTPERFORM
FIRST
HALF
    * DOLLAR VALUE OF CONSOLIDATED CONTRACT BACKLOG, AS OF APRIL
30,
2019, INCREASED 5.5% TO $949.9 MILLION
    * FOR MONTH OF MAY 2019, CO HAD A 20% YEAR-OVER-YEAR
INCREASE IN
CONSOLIDATED CONTRACTS
    * DOLLAR VALUE OF CONTRACT BACKLOG, INCLUDING UNCONSOLIDATED
JOINT
VENTURES, AS OF APRIL 30, 2019, WAS $1.18 BILLION
    * CONSOLIDATED DELIVERIES WERE 1,085 HOMES FOR Q2 OF FISCAL
2019,
A 10.7% DECREASE
    * EXPECT SECOND HALF OF YEAR TO SUBSTANTIALLY OUTPERFORM
FIRST
HALF, RESULTING IN PROFITABILITY FOR FULL YEAR

Source text for Eikon:  ID:nGNX5dfvl1 
Further company coverage:  HOV.N 

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