BEDFORD, Texas, July 16, 2024 (GLOBE NEWSWIRE) -- Legacy Housing Corporation ("Legacy" or the "Company", NASDAQ: LEGH) will release its financial results for the second quarter ended June 30, 2024, after markets close on Thursday, August 8, 2024. The Company will then host a conference call at 10:00 a.m. Central Time on Friday, August 9, 2024. Legacy builds, sells, and finances manufactured homes and "tiny houses" that are distributed through a network of independent retailers and company-owned stores. The ...

A replay of the webcast will be available on https://investors.legacyhousingcorp.com/ starting approximately two hours after the call and will be archived on the site for one year. Investor Inquiries: Duncan Bates, (817) 799-4837 duncanbates@legacyhousingcorp.com To access the conference call, please pre-register using this link. Registrants will receive confirmation with dialin details. Legacy builds, sells, and finances manufactured homes and "tiny houses" that are distributed through a network of indepen ...

Group 1: Price Targets and Analyst Consensus - The mean price target estimate for Legacy Housing (LEGH) is $29.25, indicating a potential upside of 26.7% from the current price of $23.09, with the lowest estimate at $25 representing an 8.3% increase and the highest at $33 suggesting a 42.9% increase [1][6] - A low standard deviation of $3.30 in price targets indicates a high degree of agreement among analysts regarding the stock's price movement, which can serve as a starting point for further research [1][9] - Analysts have shown strong agreement in revising earnings per share (EPS) estimates higher, which correlates with positive stock price movements, suggesting a legitimate reason to expect an upside in LEGH [10] Group 2: Analyst Ratings and Market Sentiment - LEGH holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimates, indicating strong potential for upside in the near term [5] - Over the past 30 days, the Zacks Consensus Estimate for LEGH's current year has increased by 12.8%, with one estimate moving higher and no negative revisions, reflecting growing optimism among analysts [15] Group 3: Caution on Price Targets - While price targets are often sought after by investors, their reliability as indicators of stock price movements is questionable, and decisions based solely on them may lead to disappointing returns [4][12] - Empirical research suggests that price targets set by analysts, regardless of agreement, rarely indicate the actual direction of a stock's price [8]

12 Month EPS Current-Quarter Estimate Revisions Legacy Housing (LEGH) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving. The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this mobile home manufacturing company, should get reflected in its stock price. After all, empirical resear ...

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): May 9, 2024 LEGACY HOUSING CORPORATION | (Exact name of registrant as specified in its charter) | | | | --- | --- | --- | | Texas | 001-38761 | 20-2897516 | | (State or Other Jurisdiction | (Commission | (IRS Employer | | of Incorporation) | File Number) | Identification No.) | | 1600 Airport F ...

Financial Data and Key Metrics Changes - Product sales decreased by $12.5 million or 28.8% for Q1 2024 compared to Q1 2023, primarily due to a decrease in unit volume in direct sales, mobile home park sales, and inventory finance sales [6][10] - Net income decreased by 7.0% to $15.1 million in Q1 2024 compared to Q1 2023, and basic earnings per share decreased by $0.05 or 7.5% [12] - Book value per basic share increased by 13.1% to $18.46 as of March 31, 2024, compared to the same period in 2023 [8] Business Line Data and Key Metrics Changes - Consumer MHP and dealer loans interest income increased by $2.9 million or 38% during Q1 2024 compared to Q1 2023, driven by growth in loan portfolios [7] - The cost of product sales decreased by $8.5 million or 29.3% during Q1 2024 compared to Q1 2023, primarily due to a decrease in units sold [10] - Selling, general and administrative expenses increased by $0.5 million or 8.8% during Q1 2024 compared to Q1 2023, mainly due to increased warranty costs and legal expenses [11] Market Data and Key Metrics Changes - Sales at company-owned retail stores improved, and a new special was launched to drive dealer sales, which received positive initial feedback [18][57] - The park business was slower and impacted by high interest rates, similar to other real estate asset classes, affecting M&A transaction volume and new development [18] Company Strategy and Development Direction - The company is focused on improving product quality and has made significant improvements at the Eatonton plant, which has been well received by customers [15] - Management is evaluating proposals to sell or partner on some properties to unlock significant value on the balance sheet [16] - The company aims to build a backlog and ramp up production while managing expenses closely [27][36] Management's Comments on Operating Environment and Future Outlook - The housing market remains challenging with affordability at a multi-decade low, but there are signs of improvement compared to 2023 [14] - Management is optimistic about a better year in 2024 compared to 2023, despite the tricky market conditions [27] - The company is monitoring product gross margins closely and expects to revert to average levels while aiming for production efficiencies [47] Other Important Information - The company repurchased 91,187 shares for $1.9 million in Q1 2024 and an additional 170,342 shares for $3.5 million between April 1 and May 9, 2024 [13][63] - The company has a remaining authorization of approximately $4.6 million for share repurchases [13] Q&A Session Summary Question: Can you provide more detail on the loan portfolio and the default loans in litigation? - Management confirmed active litigation with a long-term customer and emphasized the significant equity in the portfolio despite some notes being in default [22][23] Question: What is the outlook for product sales and pricing? - Management indicated that unit volumes are expected to improve in Q2, but the mix remains skewed towards lower-priced homes due to housing affordability issues [35][46] Question: How sustainable are the current gross margins? - Management noted that the high gross margins in Q1 were influenced by a large sale of leased homes and expect margins to revert to average levels while aiming for production efficiencies [47] Question: What is the status of the consumer loan portfolio and delinquencies? - Management reported that delinquencies have increased slightly but remain well below the national average, with a strong retail financing program contributing to outperformance [50][52]

Legacy Housing (LEGH) reported $43.24 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 18.2%. EPS of $0.60 for the same period compares to $0.65 a year ago.The reported revenue represents a surprise of +13.59% over the Zacks Consensus Estimate of $38.07 million. With the consensus EPS estimate being $0.36, the EPS surprise was +66.67%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...

Legacy Housing (LEGH) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 66.67%. A quarter ago, it was expected that this mobile home manufacturing company would post earnings of $0.77 per share when it actually produced earnings of $0.28, delivering a surprise of -63.64%.Over the last f ...

Washington, D.C. 20549 FORM 10-Q Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended March 31, 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 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other ...

BEDFORD, Texas, April 30, 2024 (GLOBE NEWSWIRE) -- Legacy Housing Corporation (("Legacy" or the "Company", NASDAQ:LEGH) will release its financial results for the first quarter ended March 31, 2024 after markets close on Thursday, May 9, 2024. The Company will host a conference call at 10:00 a.m. Central Time on Friday, May 10, 2024. To access the conference call, please pre-register using this link. Registrants will receive confirmation with dial-in details. A live webcast of the call can be accessed usi ...