Hovnanian Enterprises, Inc. (NYSE:HOV) Q3 2023 Earnings Call Transcript

Ara Hovnanian: We don’t have any specific limits on what we can pay down per quarter. So, as I think we’ve demonstrated, we’re very serious about improving our balance sheet and reducing our debt. We’ve been doing this fairly regularly. We expect if things hold steady, we can continue to do that in the future, but we’re not giving any specific guidance. I mean we just paid down $100 million last quarter and $100 million we just paid off last week. So, we’re making great progress.

Unidentified Analyst: Okay. Thank you very much.

Operator: Thank you. That concludes today’s question-and-answer session. I’d like to turn the call back to Ara Hovnanian for closing remarks.

Ara Hovnanian: Thank you very much. I know it’s an interesting time with rates moving as they are in all of the different world events, particularly with what’s been going on with the Fed and concerns about rates. As I mentioned, customers seem to be adjusting. Our offerings are being well received. Our sales are very good. Margins are good. We feel very optimistic about the outlook going forward. And we’ll look forward to giving you more good news in future quarters. Thanks so much.

Operator: This concludes our conference call for today. Thank you all for participating, and have a nice day. All parties may now disconnect.