Landsea Homes Corp. (NASDAQ:LSEA) Q1 2024 Results Conference Call May 1, 2024 10:00 AM ET Company Participants Drew Mackintosh - IR John Ho - CEO Chris Porter - CFO Mike Forsum - President, COO Conference Call Participants Matthew Bouley - Barclays Carl Reichardt - BTIG Alex Rygiel - B. Riley Securities Jay McCanless - Wedbush Operator Greetings, and welcome to the Landsea Homes Corporation First Quarter 2024 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now ...

Landsea Homes (LSEA) reported $294.04 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 21.6%. EPS of $0.06 for the same period compares to $0.18 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $277.3 million, representing a surprise of +6.04%. The company delivered an EPS surprise of -53.85%, with the consensus EPS estimate being $0.13.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

Landsea Homes (LSEA) came out with quarterly earnings of $0.06 per share, missing the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -53.85%. A quarter ago, it was expected that this residential homebuilder would post earnings of $0.34 per share when it actually produced earnings of $0.43, delivering a surprise of 26.47%.Over the last four quarter ...

Exhibit 99.1 Landsea Homes Reports First Quarter 2024 Results First Quarter 2024 Highlights Dallas, Texas – May 1, 2024 – Landsea Homes Corporation (Nasdaq: LSEA) ("Landsea Homes" or the "Company"), a publicly traded homebuilder, reported financial results for the first quarter ended March 31, 2024. For the quarter, the Company reported pretax income of $0.7 million, and net income of $0.2 million, or $0.01 per share. Excluding one-time transaction costs of $1.7 million, net income was $1.9 million or $0.05 ...

Landsea Homes Corporation (LSEA) launched Landsea Insurance Agency, the new addition to its extensive array of financial services under Landsea Elements.Landsea Insurance Agency offers end-to-end support to the company's homebuyers, which will make availing insurance by homeowners fast and hassle-free. Together with Westwood Insurance Agency, this new full-service financial offering provides a diverse line of products and aligns with LSEA’s commitment to providing exclusive services and expert resources tha ...

Spring Valley will feature attainably priced High Performance Homes in northeastern Boulder County Collection of paired homes designed for first-time and move-up buyers  LONGMONT, Colo., April 15, 2024 /PRNewswire/ -- Landsea Homes Corporation (Nasdaq: LSEA) ("Landsea Homes" or the "Company"), a publicly traded residential homebuilder, announced today that it has closed on 28 homesites in the Spring Valley master-planned community in Longmont, Colorado. "We are very excited about entering the city of Lon ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR (Address of Principal Executive Offices, (Zip Code) (949) 345-8080 ☐ 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: 001-38545 LANDSEA HOMES CORPORATION (Exact name of registrant as s ...

Landsea Homes Corporation (NASDAQ:LSEA) Q4 2023 Earnings Conference Call February 29, 2024 10:00 AM ET Company Participants Drew Mackintosh - Mackintosh, IR John Ho - CEO Mike Forsum - President and COO Chris Porter - CFO Conference Call Participants Alex Rygiel - B. Riley Securities Carl Reichardt - BTIG Jay McCanless - Wedbush Operator Greetings. Welcome to the Landsea Homes Corporation Fourth Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer sessi ...

Revenue and Sales Performance - Full Year Total Revenue decreased by 16% to $1.2 billion compared to $1.4 billion in 2022[11] - Fourth Quarter Home sales revenue was $379.7 million, driven by 664 home closings at an average price of $572,000[4] - Total revenue for the year ended December 31, 2023, was $1,209.9 million, a decrease of 16% compared to $1,446.4 million in 2022[36] - Home sales revenue for the year ended December 31, 2023, was $1,169.9 million, a decrease of 16% compared to $1,392.8 million in 2022[36] - Total home deliveries for the year ended December 31, 2023, were 2,123 homes, a decrease of 10% compared to 2,370 homes in 2022[37] - Average selling price (ASP) for homes in 2023 was $551,000, a decrease of 6% compared to $588,000 in 2022[37] - Net new home orders for the year ended December 31, 2023, were 1,947 homes, an increase of 28% compared to 1,520 homes in 2022[39] - Fourth Quarter Net New Home Orders increased by 352% to 398 homes with a dollar value of $218.9 million[5] Net Income and Earnings - Fourth Quarter Net income was $12.5 million, or $0.33 per diluted share[4] - Full Year Net Income was $29.2 million or $0.75 per diluted share[4] - Net income attributable to Landsea Homes Corporation for the year ended December 31, 2023, was $29.2 million, down 60% from $73.6 million in 2022[36] - Adjusted net income attributable to Landsea Homes Corporation for Q4 2023 was $16.1 million, down from $33.3 million in Q4 2022, reflecting lower net income and adjustments[49] - Net income attributable to Landsea Homes Corporation decreased to $29.236 million in 2023 from $73.551 million in 2022[50] - Adjusted net income attributable to Landsea Homes Corporation was $47.858 million in 2023 compared to $123.306 million in 2022[50] - Basic earnings per share dropped to $0.75 in 2023 from $1.71 in 2022[50] - Diluted earnings per share decreased to $0.75 in 2023 from $1.70 in 2022[50] - Weighted average common shares outstanding used in EPS - basic decreased to 38,885,003 in 2023 from 42,052,696 in 2022[50] Gross Margin and Profitability - Home sales gross margin decreased to 15.9% in the fourth quarter of 2023 compared to 19.0% in the prior year period[8] - Home sales gross margin for Q4 2023 was 15.9%, down from 19.0% in Q4 2022, while adjusted gross margin excluding interest and impairments was 19.6%, down from 21.2%[44] - Adjusted home sales gross margin excluding interest, impairments, and purchase price accounting for acquired inventory was 20.8% in Q4 2023, down from 23.4% in Q4 2022[44] Adjusted EBITDA - Adjusted EBITDA for the full year was $112.3 million compared to $208.0 million in the prior year[15] - Adjusted EBITDA for Q4 2023 was $40.3 million, a decrease from $53.9 million in Q4 2022, primarily due to lower net income and higher transaction costs[46] Assets, Liabilities, and Equity - Total assets as of December 31, 2023, were $1,471.2 million, an increase of 2% compared to $1,440.5 million in 2022[34] - Total liabilities as of December 31, 2023, were $782.9 million, an increase of 7% compared to $730.2 million in 2022[34] - Cash and cash equivalents as of December 31, 2023, were $119.6 million, a decrease of 3% compared to $123.6 million in 2022[34] - Total equity as of December 31, 2023, was $688.4 million, a decrease of 3% compared to $710.3 million in 2022[34] - Total equity decreased to $688.352 million in 2023 from $710.319 million in 2022[54] - Ratio of debt to capital increased to 44.1% in 2023 from 41.6% in 2022[54] - Ratio of net debt to total capital slightly increased to 30.4% in 2023 from 30.0% in 2022[54] - Total notes and other debts payable, net increased to $543.774 million in 2023 from $505.422 million in 2022[54] Backlog and Community Performance - Total backlog homes decreased by 23% to 517 in 2023, with a total value of $335.6 million, down 12% from $380.9 million in 2022[41] - California backlog homes increased by 104% to 161 in 2023, with a total value of $158.2 million, up 102% from $78.4 million in 2022[41] - Florida backlog homes decreased by 49% to 246 in 2023, with a total value of $128.5 million, down 49% from $250.9 million in 2022[41] - Average selling communities in Arizona increased by 21% to 19.0 in Q4 2023 compared to 15.7 in Q4 2022, and by 36% to 17.3 for the full year 2023 compared to 12.7 in 2022[40] Land and Lot Inventory - The company ended the year with 11,176 lots owned and controlled, representing approximately 5 years of supply[7] - Lots owned or controlled in Texas increased by 70% to 1,850 in 2023, driven by a significant increase in controlled lots from 1,083 to 1,720[42] - Total lots owned or controlled decreased by 4% to 11,176 in 2023, with a significant reduction in Arizona (-20%) and Florida (-11%)[42] Acquisitions and Strategic Moves - The company entered into a definitive agreement to buy DFW-based Antares Homes, adding 19 actively selling communities and a pipeline of over 2,000 lots[3] Book Value and Share Performance - Year-end book value per share increased by 11.4% to $17.88[4]

Landsea Homes Corporation (NASDAQ:LSEA) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET Company Participants Drew Mackintosh - Mackintosh, Investor Relations John Ho - Chief Executive Officer Mike Forsum - President & Chief Operating Officer Chris Porter - Chief Financial Officer Conference Call Participants Carl Reichardt - BTIG Jay McCanless - Wedbush Alex Rygiel - B. Riley Securities Operator Good day and welcome to the Landsea Homes Third Quarter 2023 Earnings Conference Call. All particip ...