Group 1 - Monteverde & Associates PC is investigating Landsea Homes Corporation regarding its proposed merger with New Home Co, which involves a tender offer to acquire all outstanding shares at $11.30 per share in cash [1] - Monteverde & Associates PC has a successful track record in recovering millions for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report [1] - The firm operates from the Empire State Building in New York City and specializes in class action securities litigation [2][3] Group 2 - The firm encourages shareholders with concerns about Landsea Homes Corporation to contact them for additional information free of charge [3] - Monteverde & Associates PC emphasizes that no company, director, or officer is above the law, reinforcing their commitment to shareholder rights [3] - The firm has a history of litigating and recovering money for shareholders, including cases that have reached the U.S. Supreme Court [2]

Group 1 - Johnson Fistel, PLLP has initiated an investigation into potential breaches of fiduciary duties by the board members of Landsea Homes Corporation regarding the proposed sale to New Home Co, an Apollo Global Management portfolio company [1] - Landsea Homes announced a definitive agreement for New Home Co. to acquire all outstanding shares in a go-private transaction, offering $11.30 per share, which is below the previous 12-month high of $14.04 and a Wall Street analyst's target of $18.00 [2] Group 2 - Shareholders of Landsea who believe the buyout price is too low are encouraged to contact lead analyst Jim Baker for more information about the investigation [3] - Johnson Fistel, PLLP is a nationally recognized law firm specializing in shareholder rights and has a history of representing investors in securities class action lawsuits [4]

Financial Data and Key Metrics Changes - The company recorded a net loss of $7.3 million in Q1 2025, translating to a net loss of $0.20 per diluted share [4] - Home sales revenue increased by 2% year over year, driven by a 27% increase in deliveries, although this was partially offset by a 20% decline in average closing prices [4][16] - The gross margin before inventory impairments was reported at 13.5%, while the adjusted gross margin remained consistent at 20% [17] Business Line Data and Key Metrics Changes - Net new orders increased by 11% year over year, with a sales pace of 3.0 homes per community per month [5] - The company delivered 643 homes in Q1 2025, which was near the midpoint of the guidance of 600 to 700 closings [12] - Florida led delivery contributions with a 52% growth, while Texas contributed 20% of home deliveries and 16% of revenue [16] Market Data and Key Metrics Changes - ASPs (Average Selling Prices) were up year over year in Florida and Texas, while they declined slightly in Arizona [13] - The sales pace in Arizona was the highest at 3.8, followed by Colorado at 3.7 and Florida at 2.9 [13] - The company noted that current new home demand conditions are uneven, with consistent traffic levels offset by buyer hesitancy [13] Company Strategy and Development Direction - The company aims to return to a 50-50 split between spec and build-to-order closings over time, emphasizing a balanced approach to home sales [6] - A strategic shift towards presold homes is expected to enhance margin opportunities and reduce cash tied up in standing inventory [7] - The company is focused on product differentiation and maintaining desirable locations to attract customers and grow market share [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term outlook for the housing industry, citing the need for additional housing supply and the desire for homeownership [11] - The company anticipates that incentive levels will remain elevated through 2025, fluctuating with the mortgage rate environment [19] - Management noted that while there is uncertainty in the near-term macro environment, they believe their competitive positioning will allow for growth [11] Other Important Information - The company ended the quarter with $256 million in liquidity, including $52.3 million in cash and cash equivalents [19] - The debt to total capital ratio was 52.1%, reflecting a 30 basis point increase from year-end [20] Summary of Q&A Session - The call did not open for questions due to a transaction announcement made prior to the call [22]

Financial Data and Key Metrics Changes - Landsea Homes recorded a net loss of $7.3 million in Q1 2025, translating to a net loss of $0.20 per diluted share [4] - Home sales revenue increased by 2% year over year, driven by a 27% increase in deliveries, despite a 20% decline in average closing prices [4][16] - The gross margin before inventory impairments was reported at 13.5%, while the adjusted gross margin remained consistent at 20% [17] Business Line Data and Key Metrics Changes - The company delivered 643 homes in Q1 2025, which was near the midpoint of the guidance of 600 to 700 closings [12] - Florida led the delivery contributions with a 52% growth in deliveries and a 53% growth in revenue [16] - ASPs were up year over year in Florida and Texas, while ASPs in Arizona declined slightly [13] Market Data and Key Metrics Changes - Net new orders increased by 11% year over year, with a sales pace of 3.0 homes per community per month [5] - The sales pace in Q1 was at the lower end of the targeted range of 3 to 4 sales per community per month, with Arizona posting the highest absorption pace at 3.8 [13] - The company experienced uneven new home demand conditions, with consistent traffic levels offset by buyer hesitancy [13] Company Strategy and Development Direction - The company aims to return to a 50-50 split between spec and build-to-order closings over time, emphasizing product differentiation to attract customers [6][7] - A strategic decision was made to sell through some spec home inventory to balance sales activity [6] - The focus on presales versus spec homes is expected to alleviate margin pressure and provide better visibility into future closings [15] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the long-term outlook for the housing industry, citing the need for additional housing supply [11] - Financing incentives are expected to remain elevated through 2025, with costs fluctuating with the mortgage rate environment [19] - The company believes that the homebuilding ecosystem self-corrects over time, and the industry's move towards a more land-light operating model may accelerate this correction [14] Other Important Information - The company ended the quarter with $256 million in liquidity, including $52.3 million in cash and cash equivalents [19] - The debt to total capital ratio was 52.1%, reflecting a 30 basis point increase from year-end [20] Summary of Q&A Session - The call did not open for questions due to a transaction announcement made prior to the call [22]

Financial Data and Key Metrics Changes - Landsea Homes recorded a net loss of $7.3 million in Q1 2025, translating to a net loss of $0.20 per diluted share [4] - Home sales revenue increased by 2% year over year, driven by a 27% increase in deliveries, although this was partially offset by a 20% decline in average closing prices [4][16] - The company reported an adjusted net loss of $1.73 million or $0.05 per share [19] Business Line Data and Key Metrics Changes - Net new orders increased by 11% year over year, with a sales pace of 3.0 homes per community per month [5] - The company delivered 643 homes in Q1 2025, which was near the midpoint of the guidance of 600 to 700 closings [12] - Florida led delivery contributions with a 52% growth in deliveries and a 53% increase in revenue [16] Market Data and Key Metrics Changes - ASPs (Average Selling Prices) were up year over year in Florida and Texas, while they declined slightly in Arizona [13] - The sales pace in Arizona was the highest at 3.8, followed by Colorado at 3.7 and Florida at 2.9 [13] - Discounts and incentives represented 9.6% of gross home sales revenue, impacting gross margins [18] Company Strategy and Development Direction - The company aims to balance spec sales and built-to-order homes, targeting a 50-50 split over time [6] - A strategic shift towards presold homes is expected to enhance margin opportunities and reduce cash tied up in inventory [7] - The focus on product differentiation and desirable locations is seen as a competitive advantage in the current market [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term industry outlook due to the need for additional housing supply [11] - The current new home demand conditions were characterized as uneven, with consistent traffic levels offset by buyer hesitancy [13] - The company anticipates elevated incentive levels through 2025, fluctuating with the mortgage rate environment [20] Other Important Information - The company ended the quarter with $256 million in liquidity, including $52.3 million in cash and cash equivalents [20] - The debt to total capital ratio was reported at 52.1%, a 30 basis point increase from year-end [21] Q&A Session Summary - The call did not open for questions due to a transaction announcement [23]

Core Viewpoint - Lido Merger Sub, Inc. has initiated a cash tender offer to purchase all outstanding 8.875% Senior Notes due 2029 of Landsea Homes Corporation, contingent upon the completion of the merger agreement dated May 12, 2025 [1][9]. Tender Offer and Consent Solicitation - The Tender Offer will expire on June 11, 2025, unless extended or terminated earlier [3]. - Holders who tender their Notes by May 27, 2025, will receive $1,040 per $1,000 in principal amount, which includes a $50 early participation premium [3][4]. - After the Early Tender Date, holders will receive $990 per $1,000 in principal amount [3][4]. - The total amount for the Tender Offer is $300 million for the 8.875% Senior Notes due 2029 [4]. Purpose of Consent Solicitation - The Consent Solicitation aims to eliminate the requirement for a "Change of Control Offer" and to remove restrictive covenants and certain events of default in the indenture governing the Notes [7]. - Holders must tender their Notes to deliver their consents, and vice versa [8]. Conditions for Completion - The consummation of the Tender Offer is subject to certain conditions, including the completion of the merger and a financing condition [9]. - The merger is expected to close early in the third quarter of 2025, with the possibility of extending the Expiration Date until the merger closes [9]. - If requisite consents are not obtained, a "Change of Control Offer" will be initiated to repurchase the Notes [9].

Core Insights - Landsea Homes Corporation reported a pretax loss of $9.9 million and a net loss of $7.1 million for Q1 2025, compared to a net income of $0.7 million in the same period last year [1][7] - Total revenue increased by 6% year-over-year to $310.8 million, driven by a 27% increase in homes closed, despite a 20% decrease in average selling price [2][12] - The company’s gross margin for home sales was 13.0%, down from 14.9% in the prior year, while the adjusted gross margin improved to 20.0% from 19.4% [6][38] Financial Performance - The adjusted net loss for Q1 2025 was $1.7 million, or $0.05 loss per share, compared to an adjusted net income of $3.5 million, or $0.10 earnings per share in Q1 2024 [1][7] - EBITDA for the quarter was $6.2 million, down from $12.6 million in the prior year, while adjusted EBITDA was $13.5 million compared to $17.0 million [8][41] Sales and Orders - New home deliveries increased by 27.3% to 643 homes, with an average sales price of $466,000, down from $579,000 in Q1 2024 [3][32] - Net new home orders rose by 11.1% to 679 homes, valued at $317.8 million, with an average sales price of $468,000 [4][33] Backlog and Inventory - The total backlog consisted of 426 homes valued at $230.8 million, down from 623 homes valued at $380.0 million a year earlier [5][36] - The company controlled 10,516 lots as of March 31, 2025, an increase from 10,349 lots a year prior, with 55% of lots controlled and 45% owned [5][37] Balance Sheet - As of March 31, 2025, total liquidity was $256.3 million, with total debt at $727.5 million, slightly up from $725.4 million at the end of 2024 [9][50] - The debt to capital ratio was 52.1%, while the net debt to total capital ratio was 48.3% [10][46]

Landsea Homes Shareholders to Receive $11.30 Per Share in Cash, Representing a Premium of Approximately 61% to the Closing Share Price on May 12, 2025 Complementary, Diversified Footprint Positions Combined Company to Accelerate Continued Growth Across the Country IRVINE, Calif. and DALLAS, May 12, 2025 (GLOBE NEWSWIRE) -- New Home Co. (“New Home”) and Landsea Homes Corporation (Nasdaq: LSEA) (“Landsea Homes”) today announced that they have entered into a definitive agreement under which New Home will acqu ...

Core Insights - Toll Brothers, Inc. has announced the grand opening of Venado Valley, a new luxury home community in Carson City, Nevada, featuring 40 single-family homes with mountain views and spacious floor plans [1][4]. Company Overview - Toll Brothers, Inc. is the leading builder of luxury homes in the United States, founded in 1967 and publicly traded since 1986, listed on the NYSE under the symbol "TOL" [6]. - The company operates in over 60 markets across 24 states and offers a variety of housing options for different buyer segments, including first-time buyers and active adults [7]. New Community Details - Venado Valley consists of single-level homes ranging from 2,129 to over 2,337 square feet, featuring 3 to 4 bedrooms, 3-car garages, and 10-foot ceilings, with prices starting from the upper $600,000s [4]. - The community is designed with Modern Craftsman, Modern Mountain, and Modern Ranch architectural styles, including front porches and enhanced landscaping [4]. Event Information - A model home grand opening event is scheduled for May 17, 2025, featuring food, music, and tours of the new homes [2][5]. - Interested home shoppers can register for the event and learn more about available home sites and quick move-in options [2][5].

Core Insights - Century Communities, Inc. is launching a new community called Heights at San Gabriel in Georgetown, Texas, with homes starting from the $400s [1][3] - The community will host a Grand Opening event on May 14, 2025, featuring various activities including model home tours and refreshments [2] - The Heights at San Gabriel offers a range of single- and two-story floor plans, with community amenities such as sports courts and a planned resort-style pool [2][6] Company Overview - Century Communities is recognized as one of the largest homebuilders in the U.S. and a leader in online home sales, having been featured on Newsweek's lists of America's and the World's Most Trustworthy Companies [1][9] - The company operates in 17 states and over 45 markets, providing a comprehensive range of services including mortgage and insurance through its subsidiaries [9] Community Features - Heights at San Gabriel includes single-family homes with 4 to 5 bedrooms, 2 to 3 bathrooms, and up to 2,439 square feet [6] - The community is conveniently located near major highways and local attractions, enhancing its appeal to potential buyers [6]