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]

Core Viewpoint - Landsea Homes Corporation plans to release its first quarter 2025 financial results on May 12, 2025, and will host a conference call on May 13, 2025, to discuss these results [1]. Company Overview - Landsea Homes Corporation is a publicly traded residential homebuilder based in Dallas, Texas, focusing on designing and building high-quality homes and sustainable master-planned communities in desirable markets across the United States [3]. - The company has developed projects in various states, including New York, Boston, New Jersey, Arizona, Colorado, Florida, Texas, and California [3]. - 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 significant transformation [3]. Conference Call Details - The conference call is scheduled for May 13, 2025, at 10:00 AM Eastern Time, with toll-free and international dial-in numbers provided for participants [2]. - The call will also be available for live broadcast and replay on the company's investor relations website [2].

LGI Homes (LGIH) came out with quarterly earnings of $0.46 per share, missing the Zacks Consensus Estimate of $0.75 per share. This compares to earnings of $0.72 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -38.67%. A quarter ago, it was expected that this entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets would post earnings of $2.31 per share when it actually produced earnings of $2.15, delivering ...