Press release
Legacy Housing Corporation Reports Full Year 2024 Financial Results
BEDFORD, Texas, March 12, 2025 (GLOBE NEWSWIRE) -- Legacy Housing Corporation (the "Company” or “Legacy", NASDAQ: LEGH) today announced its financial results
About this update from Legacy Housing Corporation
[{"type":"text","content":"BEDFORD, Texas, March 12, 2025 (GLOBE NEWSWIRE) -- Legacy Housing Corporation (the \"Company” or “Legacy\", NASDAQ: LEGH) today announced its financial results for the full year end December 31, 2024. Financial Highlights Net revenue for the year ended 2024 was $184.2 million, a decrease of 2.6% from the year ended 2023.Income from operations for the year ended 2024 was $63.6 million, a decrease of 1.5% from the year ended 2023.Net income for the year ended 2024 was $61.6 million, an increase of 13.2% from the year ended 2023.Basic earnings per share for the year ended 2024 was $2.55, an increase of 14.3% from the year ended 2023.Book value for year ended 2024 was $494.0 million, an increase of 13.1% from the year ended 2023.Book value per share1 for the year ended 2024 was $20.40, an increase of 13.9% from the year ended 2023. Duncan Bates, President and Chief Executive Officer, stated: “Affordable housing remains a critical need in the United States and demand is strong. Legacy is well positioned for 2025. Our integrated business model provides numerous opportunities to deploy capital at high rates of return and compound shareholder value. Over the last three years, we have increased book value by nearly 60%2 to $494 million. Regardless of economic conditions, we will continue to manage the business closely and allocate capital effectively.” 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 Thursday, March 13, 2025. To access the conference call, please pre-register using this link. Registrants will receive confirmation with dial-in details A live webcast of the call can be accessed using this link. 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 Stat...