Legacy Housing Corporation Reports 17.5% Decrease in Q1 2025 Net Revenue, 32.1% Drop in Net Income, and 30.6% Decline in EPS

Reuters
05-13
Legacy Housing Corporation Reports 17.5% Decrease in Q1 2025 Net Revenue, 32.1% Drop in Net Income, and 30.6% Decline in EPS

Legacy Housing Corporation $(LEGH)$ announced its financial results for the first quarter ending March 31, 2025. The company reported net revenue of $35.7 million, marking a 17.5% decrease compared to the first quarter of 2024. Income from operations was $11.6 million, representing a 30.8% decline from the previous year. Net income for the quarter reached $10.3 million, a decrease of 32.1% from the first quarter of 2024. Basic earnings per share for the period stood at $0.43, down 30.6% from the same quarter last year. Despite these declines, the book value per share increased by 13.1% to $20.87. Duncan Bates, President and CEO, noted that while inventory finance sales exceeded expectations, the quarter's results were adversely affected by lower-than-anticipated shipments to communities. Bates highlighted recent strategic changes, including simplifying the product offering, introducing a new financing solution for community owners, and adding industry veterans to key manufacturing and retail positions. The company's book value surpassed $500 million for the first time in its history, indicating a positive milestone amid the challenges.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Legacy Housing Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9449810-en) on May 12, 2025, and is solely responsible for the information contained therein.

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