Press release
Legacy Housing Corporation Reports First Quarter 2025 Financial Results
BEDFORD, Texas, May 12, 2025 (GLOBE NEWSWIRE) -- Legacy Housing Corporation (“Legacy” or the “Company,” NASDAQ: LEGH) today announced its financial results
About this update from Legacy Housing Corporation
[{"type":"text","content":"BEDFORD, Texas, May 12, 2025 (GLOBE NEWSWIRE) -- Legacy Housing Corporation (“Legacy” or the “Company,” NASDAQ: LEGH) today announced its financial results for the first quarter ended March 31, 2025. Financial Highlights Net revenue for the first quarter of 2025 was $35.7 million, a decrease of 17.5% from the first quarter of 2024.Income from operations for the first quarter of 2025 was $11.6 million, a decrease of 30.8% from the first quarter of 2024.Net income for the first quarter of 2025 was $10.3 million, a decrease of 32.1% from the first quarter of 2024.Basic earnings per share for the first quarter of 2025 was $0.43, a decrease of 30.6% from the first quarter of 2024.Book value per share1 for the first quarter of 2025 was $20.87, an increase of 13.1% from the first quarter of 2024. Duncan Bates, President and Chief Executive Officer, stated: “Inventory finance sales were ahead of our expectations, but first quarter results were negatively impacted by lower-than-expected shipments to communities during the quarter. Recently, we simplified our product offering, introduced a new financing solution for community owners, and added industry veterans to our team in key manufacturing and retail positions. During the first quarter, Legacy’s book value topped $500 million for the first time in the Company’s history. I am excited about the changes and remain optimistic about the year.” This shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Conference Call Information Management will host a conference call to discuss the results at 10:00 AM Central Time on Tuesday, May 13, 2025. To access the conference call, please pre-register using this link. Registrants will receive confirmation with dial-in details. About Legacy Housing Corporation Legacy builds, sells, and finances manufactured homes and \"tiny houses\" that are distributed through a network of independent retailers and company-owned stores. The Company also sells directly to manufactured housing communities. Legacy is one of the largest producers of manufactured homes in the United States. With current opera...