Core Viewpoint - Legacy Housing Corporation reported a decline in net revenue and income for the third quarter of 2024, while experiencing an increase in book value and book value per share, indicating mixed financial performance [2][3]. Financial Performance - Net revenue for Q3 2024 was $44.3 million, down 11.4% from Q3 2023 [2]. - Income from operations for Q3 2024 was $15.3 million, a decrease of 19.4% from Q3 2023 [2]. - Net income for Q3 2024 was $15.8 million, a decrease of 1.8% from Q3 2023 [2]. - Basic earnings per share for Q3 2024 were $0.65, down 1.5% from Q3 2023 [2]. - Book value for Q3 2024 was $479.3 million, an increase of 11.6% from Q3 2023 [2]. - Book value per share for Q3 2024 was $19.84, an increase of 12.7% from Q3 2023 [2][4]. Market and Strategic Initiatives - The company hosted a record number of customers at its 2024 Fall Show, showcasing updated home designs that appealed to younger buyers [3]. - Orders from the Fall Show increased the company's backlog into Q1 2025, suggesting positive market reception [3]. - The management believes that the market for manufactured homes will strengthen as housing affordability remains low [3]. Company Overview - Legacy Housing Corporation is the fourth largest producer of manufactured homes in the U.S., focusing on homes ranging from approximately 395 to 2,667 square feet and priced between $33,000 and $180,000 [6].

Core Viewpoint - Wall Street analysts anticipate Legacy Housing (LEGH) will report quarterly earnings of $0.65 per share, reflecting a year-over-year increase of 1.6%, with revenues expected to reach $51.14 million, up 2.4% from the previous year [1]. Group 1: Earnings and Revenue Estimates - Analysts project that 'Net revenue- Consumer and MHP loans interest' will likely reach $10.11 million, indicating a year-over-year increase of 14.9% [4]. - The 'Net revenue- Other' is estimated to be $1.45 million, showing a significant decline of 64.9% compared to the prior year [4]. - 'Net revenue- Product sales' is expected to reach $39.58 million, reflecting a year-over-year increase of 7% [4]. Group 2: Market Performance - Legacy Housing shares have shown a return of 5% over the past month, slightly outperforming the Zacks S&P 500 composite, which increased by 4.9% [5]. - The company holds a Zacks Rank 3 (Hold), suggesting it is expected to perform in line with the overall market in the near future [5].

BEDFORD, Texas, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Legacy Housing Corporation ("Legacy" or the "Company", NASDAQ: LEGH) will release its financial results for the third quarter ended September 30, 2024, after markets close on Tuesday, November 12, 2024. The Company will then host a conference call at 10:00 a.m. Central Time on Wednesday, November 13, 2024. To access the conference call, please pre-register using this link. Registrants will receive confirmation with dialin details. A replay of the webcast wil ...

Tony Anderson/DigitalVision via Getty Images Over the past several decades, the average home has only gotten larger in size. That increase in size has actually been one of the primary drivers behind home affordability issues in this country. As an example, the median square footage of a single-family home that was built sometime in the 1960s would be around 1,500 square feet today. This is significantly greater than the 750 square feet that the original Levittown home was. By 2009, the average single-family ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): August 8, 2024 LEGACY HOUSING CORPORATION (Exact name of registrant as specified in its charter) | --- | --- | --- | |------------------------------------|----------------------|-----------------------| | Texas | 001-38761 | 20-2897516 | | (State or Other Jurisdiction | (Commission | (IRS Emplo ...

Financial Data and Key Metrics Changes - Product sales decreased by $10.7 million or 25.2% in Q2 2024 compared to Q2 2023, primarily due to a decrease in unit volumes shipped [4] - Net revenue per unit sold decreased by 1.3% to $61,600 in Q2 2024 compared to the same period in 2023 [4] - Net income increased by 7.8% to $16.2 million in Q2 2024 compared to Q2 2023, with basic earnings per share increasing by $0.05 or 8.7% [7] - Book value per basic share outstanding increased by 13.2% to $19.17 from the same period in 2023 [8] - Cash decreased to approximately $0.1 million as of June 30, 2024, from $0.7 million as of December 31, 2023 [7] Business Line Data and Key Metrics Changes - Consumer MHP and dealer loans interest income increased by $1.4 million or 16.0% in Q2 2024 compared to Q2 2023 due to growth in loan portfolios [5] - Other revenue decreased by $0.8 million or 45.5% in Q2 2024 compared to Q2 2023, primarily due to a decrease in dealer finance fees [5] Market Data and Key Metrics Changes - Retail finance applications increased by 34% in Q2 2024 compared to Q2 2023, indicating a positive trend in consumer financing [9] - The community business has been impacted by higher interest rates, leading to a decrease in transaction volume [9] Company Strategy and Development Direction - The company aims to build its backlog to increase production volume, with a focus on managing margins at lower production levels [10][11] - The company is actively monetizing real estate assets on its balance sheet, which have not received credit in public markets [12] - The company is focusing on improving its retail business, which has underperformed historically, by embracing technology and modern sales approaches [42] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market improving, citing positive sales trends from larger competitors [45] - The company is addressing specific challenges that have distracted it from managing sales effectively, with expectations for improved performance in the second half of the year [45] - Management noted that while labor costs are a concern, they are focused on maintaining gross margins despite potential volume increases [29] Other Important Information - The company repurchased 170,342 shares for $3.5 million during Q2 2024, with an additional $10 million authorized for share repurchase [8] - A binding settlement agreement was signed to resolve litigation with a long-term MHP customer, which is expected to positively impact future operations [13] Q&A Session Summary Question: Impact of delayed shipments in Georgia and Texas - Management indicated that delays primarily occurred in Georgia, affecting shipments that will be pushed into Q3 [15] Question: Changes in order rates and backlog - Management noted that while they do not publish backlog figures, internal sales have shown improvement, and they are optimistic about future orders [16] Question: MHP loan portfolio performance - Management explained that the MHP loan portfolio has seen slower growth due to decreased park sales, but interest rates will adjust as loans flip to variable [23][24] Question: Gross profit margin sustainability - Management expressed confidence in maintaining gross profit margins despite labor cost pressures, with production ramping up in Georgia [29] Question: Future stock repurchase plans - Management stated that stock repurchases will be opportunistic based on internal calculations of liquidation value [31] Question: Production quality and plans in Georgia - Management reported significant improvements in production quality in Georgia and is optimistic about future sales growth [36][37]

For the quarter ended June 2024, Legacy Housing (LEGH) reported revenue of $42.5 million, down 19.3% over the same period last year. EPS came in at $0.65, compared to $0.60 in the year-ago quarter. The reported revenue represents a surprise of -8.31% over the Zacks Consensus Estimate of $46.35 million. With the consensus EPS estimate being $0.58, the EPS surprise was +12.07%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determin ...

Legacy Housing (LEGH) came out with quarterly earnings of $0.65 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.60 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 12.07%. A quarter ago, it was expected that this mobile home manufacturing company would post earnings of $0.36 per share when it actually produced earnings of $0.60, delivering a surprise of 66.67%. Over the last ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38761 Legacy Housing Corporation (Exact name of registrant as specified in its charter) Texas 20-2897516 (State or other j ...

BEDFORD, Texas, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Legacy Housing Corporation ("Legacy" or the "Company," NASDAQ: LEGH) today announced its financial results for the second quarter ended June 30, 2024. Financial Highlights Net revenue for the second quarter of 2024 was $42.5 million, a decrease of 19.3% from the second quarter of 2023. Income from operations for the second quarter of 2024 was $16.0 million, a decrease of 8.4% from the second quarter of 2023. Net income for the second quarter of 2024 was $16. ...