Legacy Housing Corporation Reports Second Quarter 2023 Financial Results
09 Agosto 2023 - 5:45PM
Legacy Housing Corporation (“Legacy” or the “Company,” NASDAQ:
LEGH) today announced its financial results for the second quarter
ended June 30, 2023.
Financial Highlights
- Net revenue for the
second quarter of 2023 was $52.6 million, a decrease of 18.0% from
the second quarter of 2022.
- Income from
operations for the second quarter of 2023 was $17.5 million, a
decrease of 14.5% from the second quarter of 2022.
- Net income for the
second quarter of 2023 was $15.0 million, a decrease of 13.0% from
the second quarter of 2022.
- Basic earnings per
share for the second quarter of 2023 was $0.62, a decrease of 12.7%
from the second quarter of 2022.
- Book value for the
second quarter of 2023 was $413.2 million, an increase of 8.1% from
the fourth quarter of 2022.
- Book value per share
for the second quarter of 2023 was $16.94, an increase of 8.0% from
the fourth quarter of 2022.
Duncan Bates, President and Chief Executive Officer, stated: “I
am pleased with Legacy’s second quarter performance. According to
Manufactured Housing Institute data, industry home shipments
through May 2023 are down 29.0% year over year. However, housing
affordability in the U.S. continues to deteriorate and retail
traffic in our industry is accelerating. Loan applications at our
company-owned retail stores hit a 12-month high in July 2023. We
continue to focus on sales and cost management, and we recently
closed a new Revolving Credit Facility which provides additional
flexibility to pursue growth opportunities.”
This shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of the Company’s
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Conference Call Information
Management will host a conference call to discuss the results at
10:00 a.m. Central Time on Thursday, August 10, 2023. To access the
conference call, please pre-register using this link. Registrants
will receive confirmation with dial-in details. A live webcast of
the call can be accessed using this link.
About Legacy Housing Corporation
Legacy builds, sells, and finances manufactured homes and “tiny
houses” that are distributed through a network of independent
retailers and company-owned stores. The Company also sells directly
to manufactured housing communities. Legacy is the fifth largest
producer of manufactured homes in the United States as ranked by
the number of homes manufactured based on the information available
from the Manufactured Housing Institute and the Institute for
Building Technology and Safety. With current operations focused
primarily in the southern United States, we offer our customers an
array of quality homes ranging in size from approximately 395 to
2,667 square feet consisting of 1 to 5 bedrooms, with 1 to 3 1/2
bathrooms. Our homes range in price, at retail, from approximately
$33,000 to $180,000.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Securities and Exchange Act of 1934 and the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to a number of risks and
uncertainties, many of which are beyond our control. As a result,
our actual results or performance may differ materially from
anticipated results or performance. Legacy undertakes no obligation
to update any such forward-looking statements after the date
hereof, except as required by law. Investors should not place any
reliance on any such forward-looking statements.
Investor Inquiries:Duncan Bates, (817)
799-4837duncanbates@legacyhousingcorp.com
Media Inquiries:Kira Hovancik, (817)
799-4905pr@legacyhousingcorp.com
Legacy Housing (NASDAQ:LEGH)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Legacy Housing (NASDAQ:LEGH)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024