HOVNANIAN ENTERPRISES INC
For the period ended Oct 31, 2024. Filed Dec 18, 2024.
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FY2024 · Filed Dec 18, 2024
HOV$99.70-5.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets at October 31, 2024 and 2023
CONSOLIDATED BALANCE SHEETS
| October 31, | October 31, | |
|---|---|---|
| (In thousands, except per share data) | 2024 | 2023 |
| ASSETS | ||
| Homebuilding: | ||
| Cash and cash equivalents | $209,976 | $434,119 |
| Restricted cash and cash equivalents | 7,875 | 8,431 |
| Inventories: | ||
| Sold and unsold homes and lots under development | 1,195,318 | 998,841 |
| Land and land options held for future development or sale | 238,499 | 125,587 |
| Consolidated inventory not owned | 210,987 | 224,758 |
| Total inventories | 1,644,804 | 1,349,186 |
| Investments in and advances to unconsolidated joint ventures | 142,910 | 97,886 |
| Receivables, deposits and notes, net | 29,400 | 27,982 |
| Property and equipment, net | 43,431 | 33,946 |
| Prepaid expenses and other assets | 82,525 | 69,886 |
| Total homebuilding | 2,160,921 | 2,021,436 |
| Financial services | 203,589 | 168,671 |
| Deferred tax assets, net | 241,064 | 302,833 |
| Total assets | $2,605,574 | $2,492,940 |
| LIABILITIES AND EQUITY | ||
| Homebuilding: | ||
| Nonrecourse mortgages secured by inventory, net of debt issuance costs | $90,675 | $91,539 |
| Accounts payable and other liabilities | 433,273 | 415,480 |
| Customers’ deposits | 41,639 | 51,419 |
| Liabilities from inventory not owned, net of debt issuance costs | 140,298 | 124,254 |
| Senior notes and credit facilities (net of discounts, premiums and debt issuance costs) | 896,218 | 1,051,491 |
| Accrued interest | 14,508 | 26,926 |
| Total homebuilding | 1,616,611 | 1,761,109 |
| Financial services | 183,135 | 148,181 |
| Income taxes payable | 5,479 | 1,861 |
| Total liabilities | 1,805,225 | 1,911,151 |
| Equity: | ||
| Hovnanian Enterprises, Inc. stockholders’ equity: | ||
| Preferred stock, $0.01 par value - authorized 100,000 shares; issued and outstanding 5,600 shares with a liquidation preference of $140,000 at October 31, 2024 and October 31, 2023 | 135,299 | 135,299 |
| Common stock, Class A, $0.01 par value - authorized 16,000,000 shares; issued 6,415,794 shares at October 31, 2024 and 6,247,308 shares at October 31, 2023 | 64 | 62 |
| Common stock, Class B, $0.01 par value (convertible to Class A at time of sale) - authorized 2,400,000 shares; issued 757,023 shares at October 31, 2024 and 776,750 shares at October 31, 2023 | 8 | 8 |
| Paid in capital - common stock | 749,752 | 735,946 |
| Retained earnings (accumulated deficit) | 74,136 | (157,197) |
| Treasury stock - at cost – 1,090,179 shares of Class A common stock at October 31, 2024 and 901,379 shares at October 31, 2023; 27,669 shares of Class B common stock at October 31, 2024 and October 31, 2023 | (158,910) | (132,382) |
| Total Hovnanian Enterprises, Inc. stockholders’ equity | 800,349 | 581,736 |
| Noncontrolling interest in consolidated joint ventures | - | 53 |
| Total equity | 800,349 | 581,789 |
| Total liabilities and equity | $2,605,574 | $2,492,940 |
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