Legacy Housing Corporation Reports Full Year 2024 Financial Results

Financial Performance - Net revenue for the year ended 2024 was $184.2 million, a decrease of 2.6$63.6 million, a decrease of 1.5% from 2023 [7] - Net income for the year ended 2024 was $61.6 million, an increase of 13.2$2.55, an increase of 14.3% from 2023 [7] - Book value for the year ended 2024 was $494.0 million, an increase of 13.1$20.40, an increase of 13.9% from 2023 [7][8] Business Model and Market Position - The company builds, sells, and finances manufactured homes and "tiny houses" through a network of independent retailers and company-owned stores [5] - Legacy is one of the largest producers of manufactured homes in the United States, focusing primarily on the southern U.S. [5] - The homes range in size from approximately 395 to 2,667 square feet and are priced from approximately $33,000 to$180,000 [5] Strategic Outlook - The company is well positioned for 2025, with a strong demand for affordable housing in the United States [3] - The integrated business model provides opportunities to deploy capital at high rates of return and compound shareholder value [3] - Over the last three years, the company has increased book value by nearly 60% [3]