Quarter ended April 30, 2026 (fiscal Q2).
| Closings | 1,181 |
| Revenue | $667.6M (↓3%) |
| Gross margin | 10.2% |
| Orders | 1,412 (↑1%) |
From the call
“Sales of to-be-built homes, those constructed based on customers’ orders, rose from 21% to 32%.”
Quick move-in homes need rate incentives to sell; to-be-built homes do not. Every point of mix moved to to-be-built is incentive spend avoided.
Source: Hovnanian Enterprises 8-K and earnings call.
