Hovnanian Enterprises Inc (FRA:HO3A)
€ 185 5 (2.78%) Market Cap: 1.11 Bil Enterprise Value: 2.09 Bil PE Ratio: 6.07 PB Ratio: 2.09 GF Score: 74/100
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Hovnanian Enterprises Inc at Deutsche Bank Leveraged Finance Conference Transcript

Sep 24, 2019 / 10:35PM GMT
Release Date Price: €15.59 (+8.49%)
Unidentified Analyst

Okay. So we'll get this started. So today, we have Hovnanian. We have Larry Sorsby and Jeffrey O'Keefe here to go through a slide presentation and then when they're done, they're going to open up for Q&A. And here they are.

J. Larry Sorsby
Hovnanian Enterprises, Inc. - Executive VP, CFO & Director

Thank you. I'll go through a series of slides. First, starting just with a very brief overview of the industry, and then I'll get into some of our recent performance and then we'll open it up for Q&A.

So the U.S. housing market clearly has been recovering. This slide shows you U.S. housing production since prior to World War II. There's a few interesting facts on this slide that I'll just highlight briefly. I've circled in red the most recent peak in the last bull market cycle, you compare that to the prior 3 peaks. And there's really nothing too extraordinarily different between all 4 peaks, frankly. However, I did the same thing in blue, with the most recent trough that occurred in 2009, you compare that to the 3 previous troughs.

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