Hovnanian’s Earnings Outlook Hurt by Rain
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From Reuters
Home builder Hovnanian Enterprises Inc. warned that its first-quarter earnings would be hurt by the severe wet weather in California, which kept it from staying on schedule to complete land development activities, exterior finishing work and landscaping.
The Red Bank, N.J.-based company expects its first-quarter earnings will be less than its previous view of $1.40 a share. Analysts on average expect $1.42 for that quarter, according to Reuters Estimates.
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