Hovnanian Enterprises Inc. (HOV) has announced a decline in profit for the fourth quarter compared to the same period the previous year. The company reported net earnings of $91.681 million, translating to $12.79 per share. In contrast, the fourth quarter of the prior year saw earnings of $94.597 million, or $13.05 per share. Despite the decrease in profit, the company's revenue for the fourth quarter increased by 10.4%, reaching $979.638 million, up from $887.032 million in the previous year.
For a quick overview of Hovnanian Enterprises Inc.'s earnings under Generally Accepted Accounting Principles (GAAP):
- Fourth Quarter Earnings: $91.681 million compared to $94.597 million last year.
- Earnings Per Share (EPS) for Q4: $12.79 versus $13.05 last year.
- Revenue for Q4: $979.638 million, up from $887.032 million last year.
Looking forward, the company has provided revenue guidance for the upcoming quarter, forecasting a range between $650 million to $750 million.
