Homebuilder Hovnanian Enterprises (NYSE:HOV) said late Wednesday its third quarter loss narrowed to $72.9 million, or $0.92 per share, compared to $148 million, or $1.61 per share, in the same quarter last year.
The loss was still larger than analysts had anticipated.
Revenue totaled $380.6 million, compared to $387.1 million last year.
Gross margins rose more than 17%, although net contracts fell 37%, to 902 homes.
Hovnanian shares are trading up 1.9% Thursday.
Let’s take a look at some of its rivals: Pulte (NYSE:PHM) shares are trading down .1%, while Toll Brothers (NYSE:TOL) shares are trading up over .2%, and KB Home (NYSE:KBH) shares are also trading down by 1.3%. Lennar (NYSE:LEN) shares are trading up .6%, while DR Horton (NYSE:DHI) shares are trading down .6% Thursday.
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