Hovnanian Enterprises tumbles on lower Q2 profit

Hovnanian Enterprises

31/05/2023 17:33

** Shares of homebuilding and financial services operations
co Hovnanian Enterprises Inc  HOV.N  fall 14.4% at $80.30
    ** Co reports net income of $4.47/share versus $8.39/share
year-ago
    ** Total revenues in the quarter were up marginally at
$703.7 mln versus $702.5 mln in the same quarter of the prior
year
    ** For 2023, total revenues are expected to be between $2.50
bln and $2.65 bln
    ** Sees 2023 earnings per share to be between $17.00 and
$20.00
    ** Shares up ~92% YTD

 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.Kalia@thomsonreuters.com))