Landsea Homes Corp Stock Price, News & Analysis

Landsea Homes Corporation (Nasdaq: LSEA) has announced the upcoming release of its first-quarter 2023 financial results, set for May 3, 2023, before market open. A conference call will follow at 10:00 AM ET for detailed discussions and a Q&A session. The call will be accessible via multiple dial-in numbers, and it will also be available for replay on the company’s Investor Relations website.

Recognized as the 2022 Builder of the Year by BUILDER magazine, Landsea Homes operates in several prominent U.S. markets, including New York, California, and Texas, focusing on sustainable homebuilding. Further information is available on their official website.

Landsea Homes Corporation (Nasdaq: LSEA) reported significant growth in its financial performance for Q4 and full year 2022. Q4 home sales revenue increased by 25% YoY to $417.5 million, with net income at $25.6 million ($0.62 per share). For 2022, total revenue reached $1.4 billion, up 49%, with net income rising to $73.6 million ($1.70 per share). Despite a successful year, the company noted a decline in new orders and an increase in cancellations due to rising mortgage rates and reduced buyer confidence. The average home sales price in Q4 was $594,000, while new orders fell to 88 homes valued at $57.5 million. The company holds a strong balance sheet with liquidity of $301.4 million.

On March 6, 2023, Landsea Homes Corporation (Nasdaq: LSEA) announced the relocation of its corporate headquarters from Newport Beach, California, to Dallas, Texas. The new office spans 7,716 square feet at 1717 E. McKinney Street. CEO John Ho stated that this strategic move aligns with their coast-to-coast growth strategy and emphasizes their commitment to expanding in Texas. The Dallas location offers logistical benefits, a lower cost of living, and access to a skilled workforce. Landsea is currently active in homebuilding across several states, including Arizona, Florida, and California.

Landsea Homes (Nasdaq: LSEA) announced the appointments of Megan Bakel as Vice President of Sales and Marketing and Dan McFarland as Director of Sales for its Florida Division. Bakel, with over 17 years in the homebuilding industry, previously managed marketing for Ryan Homes in Florida. McFarland brings a successful sales background, having most recently served at Beazer Homes. These strategic hires aim to strengthen Landsea's position in Central Florida's competitive housing market, following the company's recognition as 2022 Builder of the Year and a leap to 47th on the Builder 100 list.

On February 15, 2023, Landsea Homes Corporation (Nasdaq: LSEA) launched Landsea Title, enhancing its financial services for homebuyers. This new title company aims to provide comprehensive title insurance and settlement services in Arizona, Florida, and Texas. CEO Mike Forsum stated that the new service ensures quality and efficient home buying experiences. Landsea Title will work with First American Title Company to streamline processes and customer satisfaction. Additionally, the recent launch of Landsea Mortgage empowers customers with a full-service loan process. This strategic move reflects Landsea's commitment to delivering integrated financial solutions.

On January 27, 2023, LF Capital Acquisition Corp. II filed a definitive proxy statement for a special meeting scheduled on February 15, 2023, to vote on amending its Certificate of Incorporation. This amendment proposes to increase monthly extension payments to $0.04 per share of Class A common stock. The company may incur a 1% federal excise tax on share redemptions related to this proposal but plans to cover these costs. Additionally, the deadline for redemption requests has been extended to February 17, 2023. Level Field, the SPAC sponsor, aims to merge with businesses in high-growth sectors and has raised $258.75 million since its IPO.

Landsea Homes (Nasdaq: LSEA) has closed on 65 homesites in Goodyear, Arizona, and commenced construction on a new neighborhood named Solvida in the Estrella community. Additionally, groundbreaking has begun for 616 new homes at Citrus Park, with model home construction anticipated to start this month. Solvida will feature 65 two-story homes priced from the $300Ks, while Citrus Park will offer homes ranging from 1,706 to 3,427 square feet, starting in the low $300Ks. Both communities will incorporate smart home technology and sustainability features, appealing to first-time and move-up buyers.

Landsea Homes Corporation (Nasdaq: LSEA) will announce its fourth quarter and full year 2022 financial results on March 7, 2023, before the market opens. A conference call will follow at 7:00 AM Pacific time (10:00 AM Eastern time) for discussion and Q&A. The call can be accessed via toll-free and international numbers, as well as a live broadcast on their website. Landsea Homes, based in Newport Beach, CA, has earned the 2022 Builder of the Year award for its significant transformation and success in developing homes across various states such as New York, Texas, and California.