Hovnanian Enterprises, Inc. (NYSE:HOV) Q1 2024 Earnings Call Transcript February 22, 2024 11:00 AM ET

Company Participants

Jeff O’Keefe - Vice President, Investor Relations

Ara Hovnanian - Chairman, President, Chief Executive Officer

Brad O’Connor - Chief Financial Officer, Treasurer

David Mitrisin - Vice President, Corporate Controller

Conference Call Participants

Alan Ratner - Zelman

Alex Barron - Housing Research Center

Operator

Good morning, and thank you for joining us today for Hovnanian Enterprises’ Fiscal 2024 First Quarter Earnings Conference Call. An archive for the webcast will be available after the completion of the call and run for 12 months. This conference is being recorded for rebroadcast and all participants are currently in a listen-only mode.

Management will make some opening remarks about the fourth quarter results and then open the line for questions. The company will also be webcasting a slide presentation along with the opening comments from management. The slides are available on the investor page of the company’s website at www.khov.com. Those listeners who would like to follow along should now log into the website.

I would like to turn the call over to Jeff O’Keefe, Vice President, Investor Relations. Jeff, please go ahead.

Jeff O’Keefe

Thank you, Twanda, and thank you all for participating in this morning’s call to review the results for our first quarter, which ended January 31, 2024. All statements in this conference call that are not historical facts should be considered as forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements.

Such forward-looking statements include, but are not limited to statements related to the company’s goals and expectations with respect to its financial results for future financial periods. Although we believe that our plans, intentions and expectations reflected and are suggested by such forward-looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. By their nature, forward-looking statements speak only as of the date they are made, are not guarantees of future performance or results and are subject to risks, uncertainties, and assumptions that are difficult to predict or quantify.

Therefore, actual results could differ materially and adversely from those forward-looking statements as a result of a variety of factors. Such risks, uncertainties and other factors are described in detail in the sections entitled Risk Factors and Management’s Discussion and Analysis, particularly with a portion of MD&A entitled Safe Harbor Statement in our annual report on Form 10-k for the fiscal year ended October 31, 2023, and subsequent filings with the Securities and Exchange Commission. Except as otherwise required by applicable securities laws, we undertake no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, changed circumstances or any other reason.