Hovnanian Enterprises (NYSE: HOV) reported Q3 EPS of $6.72, versus $2.16 reported last year. Revenue for the quarter came in at $690.7 million, versus $628.1 million reported last year.

GUIDANCE:

Hovnanian Enterprises sees FY2021 revenue of $2.80-2.85 billion.

• For the fourth quarter of fiscal 2021, total revenues are expected to be between $830 million and $880 million, adjusted pretax income is expected to be between $60 million and $75 million and adjusted EBITDA is expected to be between $100 million and $115 million.
• For all of fiscal 2021, we are increasing our guidance. Total revenues are expected to be between $2.80 billion and $2.85 billion, adjusted pretax income to be between $175 million and $190 million and adjusted EBITDA to be between $345 million and $360 million.
• On October 31, 2021, we expect our community count, including domestic unconsolidated joint ventures, to grow from 120 as of the end of our third quarter to roughly the same level of 135 communities open at the end of the fourth quarter last year. Community count is expected to continue to grow in fiscal 2022.

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