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].

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 ...

Financial Performance - Net revenue for Q2 2024 was $42.5 million, a decrease of 19.3% from Q2 2023 [2] - Income from operations for Q2 2024 was $16.0 million, a decrease of 8.4% from Q2 2023 [2] - Net income for Q2 2024 was $16.2 million, an increase of 7.8% from Q2 2023 [2] - Basic earnings per share for Q2 2024 was $0.67, an increase of 8.7% from Q2 2023 [2] - Book value for Q2 2024 was $463.2 million, an increase of 12.1% from Q2 2023 [2] - Book value per share for Q2 2024 was $19.17, an increase of 13.2% from Q2 2023 [2] - The Company repurchased 170,342 shares of common stock at an average price of $20.53 during Q2 2024 [2] - An additional $10.0 million of common stock repurchase was authorized by the Board of Directors on August 6, 2024 [2] Company Overview - Legacy Housing Corporation builds, sells, and finances manufactured homes and "tiny houses" through a network of independent retailers and company-owned stores [5] - The Company is the fourth largest producer of manufactured homes in the United States based on the number of homes manufactured [5] - Current operations are primarily focused in the southern United States, offering homes ranging from approximately 395 to 2,667 square feet with prices from approximately $33,000 to $180,000 [5] Management Commentary - The President and CEO stated that the team is making progress across all aspects of the business, with improving demand and a focus on accelerating sales volume [3] - The Company continues to monetize non-core assets and manage expenses diligently, positioning itself well for the future [3]

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 ...

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 ...