Note 13 - Per Share Calculation

6 Months Ended

Apr. 30, 2025

13.	Per Share Calculation

Basic and diluted earnings per share for the periods presented below were calculated as follows:

	Three Months Ended						Six Months Ended
	April 30,						April 30,
(In thousands, except per share data)	2025				2024		2025				2024
Numerator:
Net income	$	19,726		$	50,836		$	47,917		$	74,740
Less: preferred stock dividends		(2,669	)		(2,669	)		(5,338	)		(5,338	)
Less: undistributed earnings allocated to participating securities		(144	)		(2,193	)		(350	)		(3,214	)
Numerator for basic earnings per share	$	16,913		$	45,974		$	42,229		$	66,188
Plus: undistributed earnings allocated to participating securities		144			2,193			350			3,215
Less: undistributed earnings reallocated to participating securities		(144	)		(2,194	)		(351	)		(3,215	)
Numerator for diluted earnings per share	$	16,913		$	45,973		$	42,228		$	66,188
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding		6,411			6,457			6,464			6,477
Effect of dilutive securities:
Stock-based payments		540			445			547			443
Denominator for diluted earnings per share – weighted-average shares outstanding		6,951			6,902			7,011			6,920
Basic earnings per share	$	2.64		$	7.12		$	6.53		$	10.22
Diluted earnings per share	$	2.43		$	6.66		$	6.02		$	9.57

There were no anti-dilutive shares for the three and six months ended April 30, 2025 and 2024.

HOVNANIAN ENTERPRISES INC 10-Q