Filing Flows › Hovnanian Enterprises (HOV) › Q3 FY25
Hovnanian Enterprises (HOV) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Aug 29, 2025
Hovnanian Enterprises (HOV) reported revenue of $801M for the third quarter fiscal 2025 (Q3 FY25), +11% from a year earlier and +17% from the quarter before. Operating margin was 1.0%, net earnings $16.6M (2.1% of revenue).
Hovnanian Enterprises, Q3 FY25: revenue $801M (+11% year over year), operating margin 1.0%, net earnings $16.6M, operating cash flow $52.8M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $801M | +17% | +11% |
| Operating profit | $8.3M | -51% | -90% |
| Net earnings | $16.6M | -16% | -77% |
| Operating cash flow | $52.8M | +137% | — |
| Free cash flow | $45.8M | +186% | — |
What changed
Revenue was $800.6M in Q3 FY25, up 11% year over year and up 17% from the previous quarter. Home Building was the largest line at 96% of revenue. Home Building added $68.2M year over year (up 10%), 88% of the total change.
Operating profit was $8.3M, a 1.0% margin (down 10.9 points year over year). Operating profit fell $78.3M even though revenue rose $77.9M versus a year earlier, so costs grew faster than sales. Total costs grew 25% against revenue growth of 11%. Net earnings were $16.6M, down 76% year over year. The effective tax rate was 30.2%. Non-operating items added $15.5M, 65% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $52.8M, 318% of net earnings. Non-cash charges added back $3.2M of depreciation and amortization and $6.2M of share-based compensation. Working capital and other items added $26.7M. Capital expenditures of $7.0M left free cash flow of $45.8M.
Questions
What was Hovnanian Enterprises' revenue in the third quarter fiscal 2025?
Hovnanian Enterprises (HOV) reported revenue of $801M for the third quarter fiscal 2025 (Q3 FY25), +11% from a year earlier and +17% from the quarter before.
Was Hovnanian Enterprises profitable in the third quarter fiscal 2025?
Operating profit was $8.3M (1.0% of revenue) and net earnings $16.6M.