Live Breaking News & Updates on Consolidated Backlog Dollars

First Quarter Gross Margin Percentage Increased 440 Basis Points Year-over-Year
85% Year-over-Year Increase in Consolidated Backlog Dollars to $1.67 Billion
51% Year-over-Year Increase in Land and Land Development Spend
MATAWAN, N.J., March 02, 2021 (GLOBE NEWSWIRE) Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal first quarter ended January 31, 2021.
RESULTS FOR THE FIRST QUARTER ENDED JANUARY 31, 2021:
 
Total revenues increased 16.3% to $574.7 million in the first quarter of fiscal 2021, compared with $494.1 million in the same quarter of the prior year.
Homebuilding gross margin percentage, after cost of sales interest expense and land charges, increased 440 basis points to 17.3% for the three months ended January 31, 2021 compared with 12.9% during the same period a year ago. ....

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