Ara Hovnanian – Chairman, President and Chief Executive Officer Construction costs going up but labor costs moderated. Materials prices going up especially lumber “Construction costs are the area that continued to negatively impact our gross margin. On the positive side … Continued
Ara K. Hovnanian – Chairman of the Board, President & CEO Land and labor are headwinds to gross margin ” Three factors continue to be a headwind for more meaningful gross margin improvements. Rising labor costs, increased use of incentives … Continued
Hovnanian Enterprises’ (HOV) CEO Ara Hovnanian on Q1 2016 Results Exiting bay area because of frothy market conditions “Furthermore, given the frothy market conditions in the San Francisco Bay area, which are resulting in lofty, almost speculative land prices and … Continued
Gross margin pressure from spec homes “However, we’ve taken a step back in 2015. On the right-hand side of the slide, you can see that we reported a 16.1% gross margin for the second quarter, 410 basis points less than … Continued
This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. Full transcripts can be found at Seeking Alpha Sales pace has been … Continued