Homebuilder Hovnanian Enterprises Inc. (HOV) reported Tuesday that net income for the second quarter plunged to $17.06 million or $2.43 per share from $48.17 million or $6.66 per share in the prior-year quarter.
Total revenues for the quarter declined 3.1 percent to $686.47 million from $708.38 million in the same quarter last year.
Looking ahead to the third quarter, the company expects adjusted pretax income between $30 million and $40 million and adjusted EBITDA between $60 million and $70 million on total revenues between $750 million and $850 million.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.