“We are not immune to the same supply chain delays that our peers mentioned recently, which have been even more pronounced in the month since our last quarterly conference call,” said Managing Director Ara K Hovnanian in a statement after the closing bell. Tuesday. “As such, given these uncertainties and supply chain delays, we are revising our forecast for the fourth quarter and full year. Even with these changes, we expect the year-over-year improvements in pre-tax profitability for the full year to exceed 200%. . “

The company reduced its revenue forecast for the fourth quarter to $ 780 million to $ 830 million from an earlier forecast of $ 830 million to $ 880 million.

The company posts quarterly adjusted earnings before taxes of between $ 45 million and $ 60 million and adjusted earnings before interest, taxes, depreciation and amortization of between $ 85 million and $ 100 million, compared to previous guidance for adjusted pre-tax profit of $ 60 million to $ 75 million and adjusted EBITDA of $ 100. million to $ 115 million.

Hovnanian reduced its revenue outlook for 2021 to $ 2.75 billion to $ 2.80 billion from a forecast of $ 2.80 billion and $ 2.85 billion issued in September. Homebuilder Reports Adjusted Pre-Tax Profit of $ 160 Million and $ 175 Million and Adjusted EBITDA of $ 330 Million to $ 345 Million, Down from Previous Forecast Adjusted Profit Before Tax of 175 Million of $ 190 million and EBITDA adjusted between $ 345 million and $ 360 million.

The company said it expects to start fiscal 2022 with a strong first quarter compared to the first quarter of fiscal 2021.

Write to Michael Dabaie at [email protected]