Landsea Homes — Q4 2024 Earnings Presentation
21 slides from Landsea Homes's earnings presentation, Feb 27, 2025
Slide 1: Earnings Presentation February 2025
Earnings Presentation February 2025
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Certain statements in this presentation may constitute “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, our expectations for future financial performance, business strategies or expectations for our b
Slide 3: Today’s Presenters
Today’s Presenters John Ho Michael Forsum Chris Porter Chief Executive Officer President and Chief Financial Officer Chief Operating Officer 3
Slide 4: Business Review
BUSINESS REVIEW | hartwell
Slide 5: Financial Highlights
Financial Highlights 4Q 24 QTD Highlights 2024 Highlights • Total Revenue of $486.7M up 22% from 4Q 2023 driven by a 41% • Total Revenue of $1,550.3M up 28% from 2023 driven by a 33% increase in deliveries to 937, with an Average Sales Price of $481k increase in deliveries to 2,831, with an Average
Slide 6: Diversified Portfolio In Strong Core Markets
Diversified Portfolio In Strong Core Markets California • Markets: - San Francisco Bay Area - Inland Empire - Orange County Dallas/Ft. • Lots Owned or Controlled: ~1,600 Worth (58% Controlled) • 4Q24 ASP $761k Arizona Colorado Texas Florida • Markets: • Markets: • Markets: • Markets: - Phoenix Met
Slide 7: Diversified Revenue Base – 4Q 2024 QTD
Diversified Revenue Base – 4Q 2024 QTD Total Revenue By Region Home Deliveries By Region Consolidated Total Revenue: $486.7M 4Q24 QTD 38% Florida 36% 25% Total 19% $182.6M 15% Arizona 27% 937 $120.8M Deliveries $93.6M Texas $73.4M 3% 20% $16.3M California 13% California Arizona Florida Texas Colorad
Slide 8: Diversified Revenue Base – Historical
Diversified Revenue Base – Historical Total Revenue By Region Home Deliveries by Region $1,550M 2,831 $1,446M $1,210M 2,370 California California 2,123 Arizona $1,023M Arizona Florida 1,640 Texas Florida Colorado Texas New York Colorado New York FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Lots Owned and
Slide 9: Key Operating Metrics – 4Q24 YoY
Key Operating Metrics – 4Q24 YoY New Home Orders (units) Home Deliveries (units) Backlog (units) 470 297 768 775 755 757 750 694 691 684 373 663 247 244 624 230 585 216 221 216 209 214 191 275 282 269 173 176 390 203 196 184 185 158 131 105 107 194 197 219 217 129 187 162 137 161 127 110 88 126 258
Slide 10: High Performance Homes – Our Key Differentiator
High Performance Homes – Our Key Differentiator High Performance Homes Program Features of High Performance Homes The High Performance Homes program provides homebuyers Home Automation with a four-tiered approach that includes home automation, Live the Connected Life • Meshnet wireless internet sust
Slide 11: Proven Acquisition Playbook
Proven Acquisition Playbook Disciplined Acquisition Strategy Demonstrated Three-Step Approach Roll-up strategy of undercapitalized players that have built their Utilize the same three-step, principled approach developed businesses up as far as they can with local capital and / or during our successf
Slide 12: Financial Highlights
LANISEA HOMES, Live in pour element
Slide 13: Income Statement
Income Statement 4Q24 4Q23 % Change 4Q 2024 QTD Highlights Home Sales Revenues $451M $380M 19% • Total Revenues were $486.7M • Home sales gross profit margin was 12.5%, compared to prior Deliveries (units) 937 664 41% year fourth quarter of 15.9%. Excluding interest, purchase price ASP of Home Deliv
Slide 14: Income Statement
Income Statement FY24 FY23 % Change FY24 Highlights Home Sales Revenues $1,487M $1,170M 27% • Total Revenues were $1,550.3M • Home sales gross profit margin was 14.7%, compared to prior Deliveries (units) 2,831 2,123 33% year of 17.3%. Excluding interest, purchase price amortization, ASP of Home Del
Slide 15: Consolidated Balance Sheet
Consolidated Balance Sheet 4Q 2024 Highlights $ in millions Dec24 Dec23 Cash and cash equivalents $57.2 $168.6 • Debt to Total Capital ratio of 51.8%, consistent with 3Q 2024 Real estate inventories $1,339.1 $1,121.7 • Net Debt to Total Capital of 47.7%, 150 bps improvement Goodwill $155.6 $68.6 fro
Slide 16: Appendix: Reconciliation of Adjusted Metrics
APPENDIX Reconciliation of Adjusted Metrics
Slide 17: Reconciliations of Adjusted Metrics – Net Debt to Total Capital
Reconciliations of Adjusted Metrics – Net Debt to Total Capital (Non-GAAP) In this presentation, we include certain non-GAAP financial measures, including net debt to total capital, adjusted home sales gross margin, adjusted net income, EBITDA and adjusted EBITDA. These non-GAAP financial measures a
Slide 18: Reconciliations of Adjusted Metrics – Adjusted Home Sales Gross Margin
Reconciliations of Adjusted Metrics – Adjusted Home Sales Gross Margin (Non-GAAP) 18
Slide 19: Reconciliations of Adjusted Metrics – Adjusted Net Income
Reconciliations of Adjusted Metrics – Adjusted Net Income (Non-GAAP) 19
Slide 20: Reconciliations of Adjusted Metrics – EBITDA and Adjusted EBITDA
Reconciliations of Adjusted Metrics – EBITDA and Adjusted EBITDA (Non-GAAP) 20
Slide 21: Landsea Homes
LANISEX HOMES Live in your element®