|
|
 |
| |
|
Home > Fortune 500 Companies > Hovnanian Enterprises Inc.
Hovnanian Enterprises Inc.
Hovnanian Enterprises Inc. is a publicly traded company having a good stock performance result. Hovnanian Enterprises Inc.is a fortune 500 stock listed company trading under HOV.
Hovnanian Enterprises designs, builds, and markets single-family detached homes, condominiums, and town homes for first-time, move-up, and luxury buyers as well as for empty-nesters and active adults. Hovnanian builds about 17,800 homes a year. It operates not only in the California, northeastern United States, Washington and DC area but also in the Carolinas, Texas, and Florida. Hovnanian has exited the mid-South United States but entered into the Midwest. J. Larry Sorsby is the Executive Vice President and Chief Financial Officer of the company.
Hovnanian once again ranked 2nd out of the entire list of 500 companies based on a 5 annual rate of total return to investors of 60.3 percent, and the Company ranked 12th based on its ten-year rate of return. The Company ranked 14th based on a five-year annual growth rate in profits of 57.0 percent and 12th based on five-year annual revenue growth of 36.3 percent. Hovnanian's ten-year growth rates in profits and revenues also placed the Company in the top 10 percent of the list.
Net income available to common stockholders was 81.4 million dollars for the first quarter, compared with 81.5 million dollars or 1.25 dollars per fully diluted common share in last year's first quarter. First quarter earnings were at the top of the Company's range of earnings guidance. Total revenues increased 21 percent to 1.3 billion dollars in the 2006 first quarter.
The company has achieved a 57 percent compound annual growth rate over the past five years. This phenomenal level of earnings growth ranked 10th in the Fortune 500 last year. In 2006 and future years company expects growth and strong performance.This expectation of a healthy but slower pace of growth is reflected in our projections for fiscal 2006 earnings, which is maintained in the range of 8.05 dollars to 8.40 dollars per fully diluted common share. This range of earnings would represent a 12 percent to 17 percent increase over their 2005 earnings and a return on beginning equity above 30 percent.
The company Hovnanian Enterprises Inc. strives for excellence in everything that they do including excellent customer service for customers, a great place to work for employees and outstanding performance for shareholders.
Back to Fortune 500 Companies
|
|
|
|
|
|
|