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 (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.
Legacy Housing Corporation (NASDAQ: LEGH) will announce its Q1 2020 earnings on May 15, before market open. A live webcast and conference call, hosted by senior management, will follow at 10:00 AM Central Time.
As the fourth largest manufacturer of homes in the U.S., Legacy focuses on manufactured homes and tiny houses, offering a range priced from $22,000 to $140,000. Interested investors can register for the webcast via their website or by calling in with the provided number.