HOV - Hovnanian GAAP EPS of $8.39 revenue of $702.5M

Hovnanian press release (NYSE:HOV): Q2 GAAP EPS of $8.39. Revenue of $702.5M (-0.1% Y/Y). Shares up 4% premarket. For Q3, total revenues are expected to be between $780M and $830M, gross margin, before cost of sales interest expense and land charges, is expected to be between 24.0% and 26.0% and adjusted pretax income is expected to be between $70M and $85M. For FY2022, total revenues are expected to be between $2.80B and $3B, gross margin, before cost of sales interest expense and land charges, is expected to be between 23.5% and 25.5%, adjusted pretax income is expected to be between $260M and $310M, adjusted EBITDA is expected to be between $410M and $460M and fully diluted earnings per share is expected to be between $26.50 and $32.00. "At the midpoint of our guidance, we anticipate our shareholders' equity to increase by approximately 105% by October 31, 2022."

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Hovnanian GAAP EPS of $8.39, revenue of $702.5M