When it comes to the publicly traded home builders that are out there, one of the smallest players with a market capitalization of only $477 million, is Landsea Homes Corporation (NASDAQ: LSEA ). Even though the business Crude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential. Subscribers get to use a 50+ stock model account, in-depth cash flow analys ...

Financial Performance - Home sales revenue increased by 34% to $710.8 million for the six months ended June 30, 2024, compared to $532.1 million in the same period of 2023[92]. - Net income for the six months ended June 30, 2024, was $4.0 million, down from $10.0 million in the prior year[92]. - Total revenues for the three months ended June 30, 2024, were $431.1 million, compared to $293.2 million in the same period of 2023[80]. - The gross margin for home sales increased to $62.4 million for the three months ended June 30, 2024, compared to $50.7 million in the prior year[80]. - Home sales gross margin decreased to 14.9% for both the three and six months ended June 30, 2024, down from 17.4% and 17.7% respectively in the prior year, primarily due to increased sales discounts and higher land and interest costs[112]. - EBITDA for Q2 2024 was $24,466 thousand, compared to $15,964 thousand in Q2 2023, marking an increase of 53.1%[164]. - Adjusted EBITDA for the six months ended June 30, 2024, reached $59,858 thousand, up from $43,351 thousand in the same period of 2023, reflecting a growth of 38.2%[165]. - Net income attributable to Landsea Homes for Q2 2024 was $2,885 thousand, down from $4,947 thousand in Q2 2023, a decrease of 41.6%[167]. - Adjusted net income attributable to Landsea Homes for the six months ended June 30, 2024, was $13,265 thousand, slightly up from $13,022 thousand in the same period of 2023, an increase of 1.9%[167]. Home Sales and Deliveries - Home deliveries rose by 25% to 1,265 units for the six months ended June 30, 2024, up from 1,011 units year-over-year[92]. - For the six months ended June 30, 2024, total net new home orders increased by 29% to 1,372 homes, with a dollar value of $731.2 million, compared to 1,063 homes and $606.9 million in the prior year[97]. - The average selling price (ASP) for homes delivered in the total segment was $533, reflecting a 7% decrease compared to the prior year[97]. - The Arizona segment delivered 396 homes with a dollar value of $174.992 million for the six months ended June 30, 2024, reflecting a 20% increase in dollar value compared to the prior year[105]. - The California segment delivered 285 homes with a dollar value of $266.105 million, representing a 43% increase in dollar value year-over-year[106]. - The Colorado segment, which began operations in October 2023, delivered 41 homes generating $19.1 million in revenue for the six months ended June 30, 2024[106]. - The Florida segment delivered fewer homes in the first half of 2024 compared to the same period in 2023, but saw improvement in the second quarter due to increased net new orders[107]. Acquisitions and Market Expansion - The acquisition of Antares Acquisition, LLC for approximately $239.8 million added about 2,100 lots in Texas, enhancing market presence[83]. - The acquisition of Richfield Homes, LLC for $22.5 million provided approximately 290 lots in the Denver area, supporting geographic expansion[84]. - The Texas segment began integrating operations from the Antares acquisition in April 2024, leading to increased net new home orders and dollar value[108]. - Total lots owned or controlled increased by 12% to 12,357 as of June 30, 2024, compared to 11,008 on June 30, 2023, primarily due to the Antares acquisition[119]. Financial Ratios and Leverage - The debt to capital ratio increased to 52.8%, indicating a rise in leverage as the company pursues growth opportunities[93]. - As of June 30, 2024, the net debt to total capital ratio increased to 45.4% from 30.4% as of December 31, 2023, indicating a higher leverage position following the acquisition of Antares[94]. - The ratio of debt to capital increased to 52.8% from 44.1%, indicating a higher leverage position[161]. - The ratio of net debt to total capital rose to 45.4% from 30.4%, suggesting increased financial risk[161]. Cash Flow and Liquidity - Cash and cash equivalents decreased by $62.4 million to $106.2 million as of June 30, 2024, primarily due to the Antares acquisition and net paydowns of the revolving credit facility[132]. - The company reported net cash provided by operating activities of $0.4 million for the six months ended June 30, 2024, compared to a net cash used of $11.4 million during the same period in 2023[146]. - Net cash used in investing activities was $238.7 million during the six months ended June 30, 2024, primarily due to the acquisition of Antares for $235.0 million[147]. - The company issued $300.0 million worth of senior notes, contributing to net cash provided by financing activities of $200.9 million for the six months ended June 30, 2024[148]. - The company had a minimum liquidity balance of $244.0 million as of June 30, 2024, exceeding the covenant requirement of $50,000[145]. Operational Challenges - The company is focusing on addressing affordability challenges through lower fixed interest rate incentive programs and tailored marketing efforts[86]. - Monthly absorption rates for the total segment decreased slightly to 3.1 from 3.1 in the prior year, reflecting ongoing challenges in home affordability[97]. - The company is exposed to market risks from interest rate changes and inflation, which could impact home sales and affordability[169][170]. Segment Performance - The Arizona segment reported pretax income of $4.4 million for Q2 2024, a significant improvement from a pretax loss of $0.6 million in Q2 2023[120]. - California segment achieved pretax income of $11.0 million for Q2 2024, up from $4.5 million in Q2 2023, driven by increased deliveries and lower SG&A expenses[121]. - Florida segment's pretax income decreased to $6.1 million in Q2 2024 from $11.4 million in Q2 2023, attributed to slower net new orders and lower gross margins[122]. - Texas segment recorded a pretax loss of $2.8 million in Q2 2024, compared to a loss of $1.4 million in Q2 2023, impacted by integration costs from the Antares acquisition[124]. Shareholder Actions - The company repurchased 534,436 shares of common stock for a total of $6.4 million during the six months ended June 30, 2024[153].

For the quarter ended June 2024, Landsea Homes (LSEA) reported revenue of $431.14 million, up 47% over the same period last year. EPS came in at $0.36, compared to $0.33 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $336.2 million, representing a surprise of +28.24%. The company delivered an EPS surprise of +12.50%, with the consensus EPS estimate being $0.32. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Str ...

Landsea Homes (LSEA) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 12.50%. A quarter ago, it was expected that this residential homebuilder would post earnings of $0.13 per share when it actually produced earnings of $0.06, delivering a surprise of -53.85%. Over the last four quart ...

Homes prioritize sustainability, healthy living, energy savings and connected living to make life at home easier and more comfortable "We are known for our industry-leading High Performance Homes and can't wait for homebuyers in the DallasFort Worth region to experience Landsea Homes' high standard of living," said Melissa Kelly, Dallas-Fort Worth Division President, Landsea Homes. "Our High Performance Homes are just another example of how we strive to enhance the lives of our homebuyers by creating the ul ...

Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy. Given the way analysts feel about Landsea Homes right now, this huge ...

DALLAS, July 11, 2024 (GLOBE NEWSWIRE) -- Landsea Homes Corporation (Nasdaq: LSEA) announced today that the company will release its results for the second quarter of 2024 before the market opens on Thursday, August 1, 2024. The company will host a conference call on the same day at 10:00 AM Eastern Time to discuss its financial results and conduct a question-and-answer session. Replay Details: Toll-free replay number: 844-512-2921 International replay number: 412-317-6671 Replay ID: 11156580 About Landsea ...

Core Viewpoint - Landsea Homes Corporation is set to release its second quarter 2024 financial results on August 1, 2024, and will host a conference call to discuss these results [3]. Company Overview - Landsea Homes Corporation (Nasdaq: LSEA) is a publicly traded residential homebuilder based in Dallas, Texas, focusing on designing and building sustainable master-planned communities in desirable markets across the United States [2]. - The company has developed homes and communities in various states, including New York, Boston, New Jersey, Arizona, Colorado, Florida, Texas, and California [2]. - Landsea Homes was recognized as the Green Home Builder 2023 Builder of the Year and previously won the 2022 Builder of the Year award from BUILDER magazine, highlighting its transformation and achievements in the industry [2]. Conference Call Details - The conference call to discuss the financial results will take place on August 1, 2024, at 10:00 AM Eastern Time [3]. - The call will be accessible via toll-free and international dial-in numbers, and it will also be broadcast live on the company's website [4].

"We have been expanding rapidly across California lately and this acquisition marks an exciting milestone for Landsea Homes – our entrance into Orange County's desirable coastal city of Huntington Beach," said Tom Baine, California Division President, Landsea Homes. "We look forward to bringing these new townhomes at Essex + Gage to homebuyers who are eager to break into the competitive Southern California housing market and enjoy all that Orange County living has to offer." Buyers will also be able to take ...

Mason will feature 44 High Performance townhomes in one of Orange County's most desirable and populous cities Acquisition bolsters Landsea Homes' presence in one of the nation's most sought-after housing markets ANAHEIM, Calif., June 3, 2024 /PRNewswire/ -- Landsea Homes Corporation (Nasdaq: LSEA) ("Landsea Homes" or the "Company"), a publicly traded residential homebuilder, announced today it has closed on 44 homesites for a new community called Mason in Anaheim, California. Land development has already be ...