Hovnanian Enterprises falls on bleak quarterly profit

Hovnanian Enterprises

21/08/2025 18:26

Aug 21 (Reuters) - ** Shares of U.S. homebuilder Hovnanian Enterprises HOV.N fall about 12.57% to $130.22

** Company reports Q3 EPS of $1.99, compared to $9.75 in the year-ago period

** Q3 profit falls 79.6% due to affordability challenges weighing on buyer activity as home prices remain high

** "Uncertainty across global, political and economic fronts continued to weigh on homebuyer sentiment resulting in a slower sales pace than we had expected at the beginning of the fiscal year" - CEO Ara Hovnanian

** Company expects Q4 total revenue between $750 mln and $850 mln

** As of last close, HOV stock down 3.5% YTD

(Reporting by Aditi Tiwari In Bengaluru)

((Aditi.Tiwari@thomsonreuters.com;))