Filing Flows › Hovnanian Enterprises (HOV) › Q4 FY24
Hovnanian Enterprises (HOV) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Dec 18, 2024
Hovnanian Enterprises (HOV) reported revenue of $980M for the fourth quarter fiscal 2024 (Q4 FY24), +10% from a year earlier and +36% from the quarter before. Operating margin was 10.5%, net earnings $87.9M (9.0% of revenue).
Hovnanian Enterprises, Q4 FY24: revenue $980M (+10% year over year), operating margin 10.5%, net earnings $87.9M, operating cash flow $116M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $980M | +36% | +10% |
| Operating profit | $102M | +18% | -15% |
| Net earnings | $87.9M | +28% | +2% |
| Operating cash flow | $116M | — | -19% |
| Free cash flow | $111M | — | -19% |
What changed
Revenue was $979.6M in Q4 FY24, up 10% year over year and up 36% from the previous quarter. Home Building was the largest line at 98% of revenue.
Operating profit was $102.4M, a 10.5% margin (down 3.2 points year over year). Operating profit fell $18.3M even though revenue rose $92.6M versus a year earlier, so costs grew faster than sales. Total costs grew 14% against revenue growth of 10%. Net earnings were $87.9M, up 2% year over year. The effective tax rate was 20.0%.
Operating cash flow was $115.8M (down 19% year over year), 123% of net income including minority interests. Non-cash charges added back $2.1M of depreciation and amortization and $5.1M of share-based compensation. Working capital and other items added $14.4M. Capital expenditures of $4.4M left free cash flow of $111.4M.
Questions
What was Hovnanian Enterprises' revenue in the fourth quarter fiscal 2024?
Hovnanian Enterprises (HOV) reported revenue of $980M for the fourth quarter fiscal 2024 (Q4 FY24), +10% from a year earlier and +36% from the quarter before.
Was Hovnanian Enterprises profitable in the fourth quarter fiscal 2024?
Operating profit was $102M (10.5% of revenue) and net earnings $87.9M.