Legacy Housing Stock Price, News & Analysis

Legacy Housing Corporation (NASDAQ: LEGH) received a notice from Nasdaq for failing to file its Annual Report on Form 10-K for the year ending December 31, 2021. The notice, dated April 1, 2022, indicates non-compliance with Nasdaq Listing Rule 5250(c)(1). The company must submit a plan to regain compliance by May 31, 2022, and if accepted, may have an extension until September 27, 2022. The notice does not currently affect the listing or trading of its stock.

Legacy Housing Corporation (NASDAQ: LEGH) reported impressive financial growth for Q3 2021. Net revenue reached $56.5 million, up 29.1% year-over-year. Gross margin improved by 70% to $14.9 million, reflective of better management against supply chain pressures. Net income rose to $14.7 million, an increase of $6.3 million, driven by higher gross margins and interest revenue. Earnings per share soared by 74.3% to $0.61. The company remains optimistic, reporting a strong backlog and solid demand for products.

Legacy Housing Corporation (NASDAQ: LEGH) reported strong financial results for Q2 2021, with revenue of $48.6 million, reflecting a 5.6% increase from Q2 2020's $46.0 million. Earnings rose 23.8% to $12.4 million, with per-share earnings at $0.51, a 24.4% increase compared to $0.41 in Q2 2020. The company's per-share book value also increased by 17.1% to $11.59. Notably, these growth metrics stemmed from organic growth, with no setbacks attributed to COVID-19.

Legacy Housing Corporation (NASDAQ: LEGH) reported robust financial results for Q1 2021. Net revenue increased by 4.4% to $39.9 million compared to Q1 2020, with net income rising to $9.0 million, boosted by energy efficiency tax credits. Diluted earnings per share improved by 10.1% to $0.37. The company also reduced selling, general and administrative expenses by 14.6% to $4.8 million. Despite challenges from a significant weather event, Legacy remains optimistic with a strong backlog and plans for land development.

Legacy Housing Corporation (NASDAQ: LEGH) reported its financial results for Q4 2020, showcasing a strong performance. Net revenue reached $48.7 million, up 12.5% from Q4 2019. Interest revenue rose 10% to $6.4 million, while selling expenses decreased 20.9% to $4.9 million. Income from operations surged 46.8% to $13.1 million, and net income was $10.5 million, reflecting a 52.9% increase. Diluted EPS increased 57.1% to $.44. The company anticipates continued growth in 2021, with a 17.5% boost in tangible book value.

Legacy Housing Corporation (NASDAQ: LEGH) reported strong financial results for Q3 2020, with revenues reaching $43.7 million, a 4.3% year-over-year increase. Interest income surged to $6.4 million, marking a 13.0% rise from Q3 2019. Income from operations improved by 34.5% to $10.8 million, with a notable increase in net income to $8.4 million or 37.6%. SG&A expenses fell by 28.1% to $4.5 million. Earnings per share rose to $0.35 compared to $0.25 in the prior year. The company continues to see strong demand for mobile housing.

Legacy Housing Corporation (NASDAQ: LEGH) announced restated financial results for Q2 2020, correcting prior financial statements due to an accounting error. This restatement revealed an overstatement of costs, leading to a $1.4 million increase in retained earnings and a $1.4 million rise in net income. Net income was reported at $10.0 million ($0.41 per diluted share) for the quarter, and $19.1 million ($0.79 per diluted share) for the six months ending June 30, 2020. Investors are advised to disregard previously issued financial data related to this period.

Legacy Housing Corporation (NASDAQ: LEGH) announced its Q2 2020 financial results, reporting revenue of $46.0 million, a slight increase from $45.8 million in Q2 2019. Interest income rose nearly 20% to $6.1 million, while net income remained stable at $8.6 million. The consumer loan portfolio saw growth to $107.2 million, and the manufactured home park loan portfolio increased 16.3% to $120.1 million. SG&A expenses decreased by 33.9% to $4.1 million, enabling an 8% increase in tangible book value for shareholders year-to-date.

Legacy Housing Corporation (Nasdaq: LEGH) reported a first-quarter net revenue of $38.3 million for 2020, slightly up from $37.9 million in 2019. Interest income increased 16% to $6.4 million. The consumer loan portfolio increased by $6.7 million year-over-year. Income before tax rose 26% to $11.6 million, and net income reached $9.0 million, a 25% increase from $7.2 million. Earnings per share were $0.37, with a pro-forma EPS of $0.33 when adjusting for a one-time settlement gain. Management remains optimistic despite COVID-19 challenges.