Three Months Ended

Nine Months Ended

July 31,

(In thousands, except per share data)

2022

2021

2022

2021

Numerator:

Net earnings attributable to Hovnanian

$

82,614

$

47,702

$

169,857

$

555,337

Less: preferred stock dividends

$

(2,669

)

$

(8,007

)

Less: undistributed earnings allocated to nonvested shares

(9,139

)

(4,426

)

(20,201

)

(54,165

)

Numerator for basic earnings per share

$

70,806

$

43,276

$

141,649

$

501,172

Plus: undistributed earnings allocated to nonvested shares

9,139

4,426

20,202

54,165

Less: undistributed earnings reallocated to nonvested shares

(9,141

)

(4,436

)

(20,214

)

(55,259

)

Numerator for diluted earnings per share

$

70,804

$

43,266

$

141,637

$

500,078

Denominator:

Denominator for basic earnings per share – weighted average shares outstanding

6,485

6,315

6,424

6,263

Effect of dilutive securities:

Share based payments

59

119

83

107

Denominator for diluted earnings per share – weighted average shares outstanding

6,544

6,434

6,507

6,370

Basic earnings per share

$

10.92

$

6.85

$

22.05

$

80.02

Diluted earnings per share

$

10.82

$

6.72

$

21.77

$

78.51