A U.S.-based homebuilding company with a financial services segment; the excerpt shows 2025 revenues of $2,978,581,000 and net income (profit) of $63,865,000 (customer and employee counts are not provided in the excerpt).

# Summary of provided excerpt

- The text you provided is an excerpt from a table of contents (Part I) of a filing or report.
- It lists headings and corresponding page numbers. The headings shown in the excerpt are:
  - Business — page 4
  - Risk Factors — page 13
  - Unresolved Staff Comments — page 25
  - Cybersecurity — page 25
  - Properties — page 27
  - Legal Proceedings — page 27
  - Mine Safety Disclosures — page 27
  - Information About Our Executive Officers — page 27

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Hovnanian Enterprises, Inc. is one of the largest builders of residential homes in the U.S., delivering a diverse range of properties and providing related financial services.

# Hovnanian Enterprises, Inc. - Business Overview

**Overview**  
Hovnanian Enterprises, Inc. (HEI), founded in 1959 and incorporated in New Jersey in 1967, is one of the nation’s largest builders of residential homes. HEI designs, constructs, markets, and sells a diverse range of homes, including single-family detached homes, attached townhomes, condominiums, urban infill homes, and active lifestyle communities. The Company operates through its subsidiaries, collectively managing various aspects of the home-buying process, from design and construction to financial services.

**Business Segments**
1. **Homebuilding Operations** - Divided into three reportable segments:
   - **Northeast**: Covers states including Delaware, Maryland, New Jersey, Ohio, Pennsylvania, Virginia, and West Virginia.
   - **Southeast**: Comprises Florida, Georgia, and South Carolina.
   - **West**: Encompasses Arizona, California, and Texas.
  
2. **Financial Services Operations** - Provides mortgage loans and title services primarily to customers of its home-building operations.

**Operations**  
- As of October 31, 2024, HEI operates in **130 communities** across **27 markets** in **13 states** throughout the U.S.
- In Fiscal 2024, HEI delivered **6,201 homes**, with housing revenues totaling **$2.9 billion** and an average sales price of **$538,000**.
- Within their financial operations, **25.1%** of customers paid in cash, while **79.4%** of those who financed their purchases obtained mortgages through HEI's financial services.

**Employee Count**  
- HEI employs **1,878 full-time associates**, with approximately **1,211** involved in homebuilding operations, **171** in financial services, and **496** in corporate roles. The organization has a diverse workforce, with **27.3%** of associates identifying as non-white and **43.6%** as women.

**Financial Performance**  
- For the year ended October 31, 2024:
  - **Net Sales Contracts** amounted to **$2.8 billion**, up from **$2.5 billion** in 2023.
  - Homes contracted increased by **11.6%**, totaling **5,186 homes**.
  - Revenue from unconsolidated joint ventures reached **$539 million**.

__Growth History Highlights:__
- Over its history, HEI has delivered more than **375,000 homes**.
- In fiscal 2024, the company bought back **$113.5 million** in senior secured notes and repurchased **188,800** shares of Class A common stock.

**Corporate Vision**  
Hovnanian aims to become a significant builder in each of its selected markets, focusing on customer satisfaction, high returns on invested capital, risk-averse land acquisition strategies, and maintaining adequate liquidity for growth and stability. They strive to provide a comprehensive homebuying experience, enhancing the financial and operational efficiencies of the home-buying process.

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This detailed overview encapsulates Hovnanian Enterprises, highlighting its operations, employee engagement, and financial performance in a structured format.

HOVNANIAN ENTERPRISES INC

10-K / December 22, 2025

10-K / December 18, 2024

10-K / December 22, 2025

Summary of provided excerpt