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On August 20, Hovnanian Enterprises (NYSE:HOV) reported third-quarter results that told two different stories at once. Revenue fell to $705.7 million from $800.6 million a year earlier, and the company posted a net loss of $0.70 per diluted share. Yet backlog value rose 5.1% year over year to $881.9 million, and management pointed to record […]
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Gross margins improved for the second consecutive quarter, but adjusted pre-tax income missed guidance for the first time in 23 quarters due to lower JV income.
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