霍夫纳尼安 2026年季度报告

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549FORM 10-Q (Mark One)☒Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the quarterly period ended January 31, 2026OR Delaware (State or Other Jurisdiction of Incorporation or Organization) 22-1851059 (I.R.S. Employer Identification No.) 732-747-7800 (Registrant’s Telephone Number, Including Area Code) N/A (Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report) Securities registered pursuant to Section 12(b) of the Act: (1) Each share of Common Stock includes an associated Preferred Stock Purchase Right. Each Preferred Stock Purchase Right initiallyrepresents the right, if such Preferred Stock Purchase Right becomes exercisable, to purchase from the Company one ten-thousandth of a Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Large Accelerated Filer☐Accelerated Filer☒Nonaccelerated Filer☐Smaller Reporting Company☐Emerging Growth If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.5,153,480 shares of Class A Common Stock and 784,714 shares of Class B Common Stock were outstanding as of February 25, 2026. Table of Contents HOVNANIAN ENTERPRISES, INC.FORM 10-QINDEXPAGENUMBERPART I. Financial InformationItem l. Financial Statements:Condensed Consolidated Balance Sheets (unaudited) as ofJanuary 31, 2026 andOctober 31, 20253Condensed Consolidated Statements of Operations (unaudited) for the three months endedJanuary 31, 2026 and 20254Condensed Consolidated Statements of Changes in Equity (unaudited) for the three months endedJanuary 31, 2026 and20255Condensed Consolidated Statements of Cash Flows (unaudited) for thethree months ended January 31, 2026 and 20257Notes to Condensed Consolidated Financial Statements (unaudited)9Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations28Item 3. Quantitative and Qualitative Disclosures About Market Risk45Item 4. Controls and Procedures45PART II. Other Information46Item 1. Legal Proceedings46Item 2. Unregistered Sales of Equity Securities and Use of Proceeds46Item 5. Other Information46Item 6. Exhibits47Signatures492 HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (1) Includes $26.8million gain on consolidation of joint venturesfor thethree months ended January 31, 2026,and $22.7 million gainon contribution of assets to a jointventure for the three months ended January 31, 2025 (see note 18). HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITYTHREE MONTH PERIOD ENDEDJANUARY31,2025(In thousands, except share data) HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Table of Contents HOVNANIAN ENTERPRISES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Supplemental disclosure of non-cash investing and financing activities: In the first quarter of fiscal 2026, we consolidated the remaining assets and liabilities of one of our unconsolidated jointventures, resulting in a decrease in our investment of $72.2 million and an increase of $87.9 million to inventory, $2.7 million to otherassets, $14.0 million to accounts payable, $2.6 million to customer deposits, $5.2 million to nonrecourse mortgages and notes, net of In the first quarter of fiscal 2026, we acquired a controlling financial interest in a previously unconsolidated joint venture inthe Kingdom of Saudi Arabia("KSA"). As part of the transaction, we consolidated the assets and liabilities, resulting in an increase of$88.3 million to inventory, $24.0 million to other assets, $0.5 million to property and equipm