Hovnanian Beats the Street
In its latest quarterly earnings report, Hovnanian posted profit of $322.5M or $1.95 per share versus analyst expectations of 20 cents per share. Notably, $285.1M of profit was from a one-time tax benefit and not operations. The company’s prospects appear to be improving with performance across many key metrics, including deliveries, dollar value of net contracts, revenue and backlog, up from the year ago period.
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