Company: HOVVB
Filing Date: 2025-02-19
Form Type: CORRESP
Source: 0001753926-25-000257
Chunk: 0

Company: HOVNANIAN ENTERPRISES INC
Filing Date: 2025-02-19
Form: CORRESP
Chunk 0
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HOVNANIAN ENTERPRISES, INC. 90 Matawan Road, Fifth Floor Matawan, NJ 07747 VIA EDGAR February 19 , 202 5 Mr. Ameen Hamady Mr. Isaac Esquivel United S tates Securities and Exchange Commission Division of Corporation Finance Office of Real Estate & Construction 100 F Street, N.E. Washington, D.C. 20549 RE : Hovnanian Enterprises, Inc. Form 10-K for the F iscal Y ear E nded October 31 , 202 4 Form 8-K filed December 5, 2024 File No. 001- 8551 Dear Messrs. Hamady and Esquivel , Hovnanian Enterprises, Inc. (“ Hovnanian ” or the “Company”) submits this letter in response to the comments contained in the correspondence of the Staff (the “Staff”) of the United States Securities and Exchange Commission (the “Commission”), dated February 7 , 202 5 (the “Comment Letter”), relating to the Form 10-K for the fiscal year ended October 31 , 202 4 , filed with the Commission on December 18, 2024, and the Form 8-K filed with the Commission on December 5, 2024 (the “ Form 8-K ”) . For your convenience, we have set forth below the Staff’s comments in bold followed by the Company’s responses thereto. Form 8- K filed December 5, 2024 Ex. 99.1 Earnings Press Release – Fiscal Fourth Quarter and Year Ended October 31, 2024 , page 5 1. We note your presentation of adjusted earnings before interest and income taxes return on investment ("adjusted EBIT ROI") as a non-GAAP financial measure for which you disclose the most directly comparable GAAP financial measure is net income. In regards to your presentation of adjusted EBIT ROI, please further clarify and expand your disclosure regarding the following : Clearly state how such measure is calculated including the use of a trailing twelve-month period in your presentation. In addition, please expand your disclosure to highlight that each of the components, adjusted EBIT and inventories less consolidated inventory not owned and capitalized interest plus liabilities from inventory not owned, used to calculate adjusted EBIT ROI are considered non-GAAP measures, describe the adjustments made to arrive at such non-GAAP measures and identify their most directly comparable GAAP financial measures ; Response The Company respectfully advises the Staff that