Welcome to our dedicated page for Legacy Housing Corporation news (Ticker: LEGH), a resource for investors and traders seeking the latest updates and insights on Legacy Housing Corporation stock.
Legacy Housing Corporation (NASDAQ: LEGH) is a premier builder, seller, and financier of high-quality manufactured homes and tiny houses in the United States. The company operates a robust network of independent retailers and company-owned stores to distribute its homes. Additionally, Legacy sells directly to manufactured housing communities, cementing its place as an industry leader.
Legacy Housing is renowned for offering comfortable and well-built homes at competitive prices. Their homes, ranging from approximately 395 to 2,667 square feet, feature 1 to 5 bedrooms and 1 to 3 1/2 bathrooms. Prices at retail range from about $33,000 to $180,000, making them a favored choice among thousands of homeowners across America. The company's American-made homes stand out for their quality materials and craftsmanship.
Recent achievements underscore Legacy's commitment to growth and customer satisfaction. The company announced its financial results for the second quarter of 2023, highlighting strong performance despite industry-wide shipment declines. President and CEO Duncan Bates noted that retail traffic and loan applications have surged, hitting a 12-month high in July 2023.
Legacy Housing's financial stability is further bolstered by a new Revolving Credit Facility, providing flexibility for growth. The company's focus on sales and cost management continues to pay off. Notably, the 2023 Fall Show was one of the most successful in Legacy's history, marking impressive strides in both production and sales expansion, particularly in the Southeast.
In leadership news, Legacy welcomed Jeff Fiedelman as its Chief Financial Officer in September 2023. Fiedelman's expertise in finance, accounting, and operations promises to drive Legacy's strategic initiatives forward. The company remains committed to enhancing processes, recruiting top talent, and maintaining a strong financial footing.
Legacy Housing ranks among the top producers of manufactured homes in the U.S., with current operations primarily in the southern states. As of late 2023, the company is the fourth largest producer according to the Manufactured Housing Institute. Legacy's homes continue to attract a broad customer base seeking affordable and high-quality housing solutions.
For investors and stakeholders, Legacy Housing Corporation remains a pivotal player in the manufactured housing market, providing a consistent track record of performance, innovation, and customer satisfaction.
Legacy Housing Corporation (NASDAQ: LEGH) reported record financial results for the year ending December 31, 2022. Key highlights include:
- Net revenue increased by 30.1% to $257.0 million.
- Income from operations rose by 32.4% to $78.0 million.
- Net income surged 35.9% to $67.8 million.
- Basic EPS grew by 35.0% to $2.78.
- Book value escalated 23.5% to $382.1 million, with book value per share at $15.69, reflecting a 22.7% increase.
CEO Duncan Bates emphasized operational improvements and capital deployment as priorities for shareholder returns.
Legacy Housing Corporation (NASDAQ: LEGH) has appointed Max Africk as General Counsel, succeeding Thomas Osier who left the company in late 2022. CEO Duncan Bates expressed enthusiasm over Africk's extensive legal expertise, which is expected to support the company's operations as a public entity and foster growth. Africk, 33, previously worked at King & Spalding LLP and other prominent law firms, and he holds degrees from the University of North Carolina and the University of Texas. Legacy Housing specializes in building, selling, and financing manufactured homes, positioning itself as the fifth largest U.S. producer of such homes.
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.
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