Welcome to our dedicated page for Legacy Housing news (Ticker: LEGH), a resource for investors and traders seeking the latest updates and insights on Legacy Housing stock.
Legacy Housing Corporation builds, sells and finances manufactured homes and tiny houses for independent retailers, company-owned stores, manufactured housing communities and direct consumer channels. The company’s updates commonly cover quarterly and annual operating results, product sales, floor-section deliveries, average selling prices, book value trends and the economics of its manufactured-home financing activities.
Recurring news also includes share repurchases, retail and distribution initiatives, workforce and community-focused housing demand, land development activity and management or governance changes. Legacy’s completed acquisition of certain AmeriCasa Solutions assets expanded its distribution and financing capabilities in Texas.
Legacy Housing Corporation (LEGH) announced it will release its earnings for the fourth quarter and full year ending December 31, 2022, on March 15, 2023, after market close. A conference call to discuss these results is scheduled for March 16, 2023, at 10:00 AM CT. The company is a leading manufacturer of homes, ranking fifth in the U.S. Its products range from approximately $33,000 to $180,000, catering primarily to customers in the southern U.S. Legacy offers a diverse array of homes, with sizes from 395 to 2,667 square feet, accommodating 1 to 5 bedrooms.
Legacy Housing Corporation (NASDAQ: LEGH) reported financial results for Q3 2022, highlighting net revenue of $57.3 million, a 1.5% increase from Q3 2021. Income from operations rose 10% to $16.9 million, with net income increasing 13.4% to $14.7 million. Basic EPS reached $0.60, up 11.1%. Book value jumped 22.5% to $362.2 million. The Board approved a $10 million stock repurchase program effective through October 31, 2025, emphasizing shareholder value amid a strong backlog despite production challenges.
Legacy Housing Corporation (NASDAQ: LEGH) will release its third-quarter earnings for the period ending September 30, 2022, on November 8, 2022, after market close. A conference call to discuss these results is scheduled for November 9, 2022, at 11:00 AM CT. The company is a leading producer of manufactured homes in the U.S., focusing on quality homes priced between $22,000 and $140,000. Legacy operates primarily in the southern U.S. and distributes its products through independent retailers and company-owned stores.
Legacy Housing Corporation (NASDAQ: LEGH) reported significant gains in its financial results for the first half of 2022, showcasing a 40.2% increase in revenue to $124.1 million compared to the same period in 2021. Net income rose by 42.8% to $33.4 million, with fully diluted EPS climbing 40.1% to $1.35. The company aims to regain NASDAQ compliance and plans timely filing of its third-quarter results, potentially impacting investor confidence and future stock performance.
Legacy Housing Corporation (LEGH) announced progress in regaining NASDAQ compliance after filing its Form 10-K for the year ended December 31, 2021, on August 3, 2022. The Audit Committee appointed Daszkal Bolton LLP as the new public accounting firm following the dismissal of Weaver and Tidwell, LLP. Legacy expects to file Forms 10-Q1 and 10-Q2 by late September 2022, with anticipated revenues of $120 to $122 million and income before taxes of $37 to $39 million for the first half of 2022. Despite recent accounting challenges, Legacy continues to perform well in a tough market.
Legacy Housing Corporation (NASDAQ: LEGH) received a notice from Nasdaq on August 11, 2022, for non-compliance with Listing Rule 5250(c)(1) due to untimely filing of its Quarterly Report on Form 10-Q for the period ended June 30, 2022. This follows a similar notice for the report ending March 31, 2022. Legacy has until September 12, 2022, to provide an update on its compliance plan. While the notice does not immediately affect the company's stock listing, timely filings are critical for regulatory compliance.
Legacy Housing Corporation (NASDAQ: LEGH) announced the appointment of Duncan Bates as President and CEO, effective June 7, 2022. Bates, previously Senior VP of Mergers & Acquisitions at Arcosa, Inc., succeeds Kenny Shipley, who will continue as Founder and Executive VP. The company aims to leverage Bates' extensive experience in corporate finance for strategic growth. Francisco Coll was also appointed as an Independent Director on the same day. Legacy is a leading producer of manufactured homes in the U.S., focusing on quality and affordability.
Legacy Housing Corporation (NASDAQ: LEGH) received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to the failure to timely file its Quarterly Report on Form 10-Q for the period ending March 31, 2022. This follows a previous notice for not filing its Annual Report on Form 10-K for the year ending December 31, 2021. The company has until May 31, 2022, to submit a compliance plan, with a potential extension to regain compliance until September 27, 2022. The notice does not affect the trading of the company’s stock on Nasdaq.
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.