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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Revenues $ 631,952 $ 673,623
Inventory impairments and land option write-offs 2,359 1,040
Corporate general and administrative 33,718 32,692
Other interest [1] 12,158 9,517
Other (income) expense, net [2] (31,283) (20,620)
Total expenses 606,690 642,965
Income from unconsolidated joint ventures 3,440 9,205
Income before income taxes 28,702 39,863
Tax provision 7,843 11,672
Net income 20,859 28,191
Less: preferred stock dividends 2,669 2,669
Net income available to common stockholders $ 18,190 $ 25,522
Net income per common share (in dollars per share) $ 2.8 $ 3.88
Weighted-average number of common shares outstanding basic (in shares) 6,490 6,517
Net income per common share (in dollars per share) $ 2.62 $ 3.58
Weighted-average number of common shares outstanding (in shares) 6,950 7,071
State and Local Jurisdiction [Member]    
Tax provision $ 1,205 $ 2,049
Domestic Tax Authority [Member]    
Tax provision 6,638 9,623
Home Building [Member]    
Revenues 612,944 656,681
Cost of sales, excluding interest 509,631 533,290
Cost of sales interest 16,591 19,356
Inventory impairments and land option write-offs 2,359 1,040
Total cost of sales 528,581 553,686
Selling, general and administrative 50,281 54,253
Total expenses excluding Corporate general and administrative, Other interest and Other expenses, net 578,862 607,939
Home Building [Member] | Sale of homes [Member]    
Revenues 575,759 646,914
Home Building [Member] | Land Sales and Other Revenues [Member]    
Revenues 37,185 9,767
Financial Services [Member]    
Revenues 19,008 16,942
Total expenses excluding Corporate general and administrative, Other interest and Other expenses, net $ 13,235 $ 13,437
[1] During the three months ended January 31, 2026 and 2025, respectively, our inventory under development exceeded our debt, therefore, all of the related interest incurred qualified for interest capitalization. Other interest includes interest on completed homes, land in planning and fully developed lots without homes under construction, which does not qualify for capitalization, and therefore, is expensed as incurred.
[2] Includes $26.8 million gain on consolidation of joint ventures for the three months ended January 31, 2026, and $22.7 million gain on contribution of assets to a joint venture for the three months ended January 31, 2025 (see note 18).