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Hovnanian Enterprises Shares Fall After Swinging to Fiscal Q3 Net Loss as Revenue Drops

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Hovnanian Enterprises (HOV) shares fell more than 8% after the opening bell on Thursday after the company swung to a fiscal Q3 net loss and lower total revenue.

The company reported a fiscal Q3 net loss Thursday of $0.70 per diluted share, swinging from earnings of $1.99 a year earlier.

A single analyst polled by FactSet expected a loss of $0.56.

Total revenue for the quarter ended July 31 was $705.7 million, down from $800.6 million a year earlier.

One analyst expected revenue of $723.5 million.

The company said it expects fiscal Q4 revenue of between $800 million and $900 million. One analyst expects revenue of $784.1 million.

Price: $119.45, Change: $-8.07, Percent Change: -6.33%

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