Homebuilder Hovnanian Enterprises Inc. (HOV) reported Wednesday that net income for the second quarter increased 48.9 percent to $50.8 million or $6.66 per share from $34.1 million or $4.47 per share in the prior-year quarter.
Total revenues for the quarter edged up to $708.4 million from $703.7 million in the same quarter last year.
Looking ahead to the third quarter, the company expects adjusted pretax income between $65 million and $75 million and adjusted EBITDA between $97 million and $107 million on total revenues between $675 million and $775 million.
For fiscal 2024, the company now projects total revenues between $2.75 billion and $3.00 billion.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.