Legion Capital Announces 2023 Financial Results

Rhea-AI Summary

Legion Capital (OTC: LGCP) announced its financial results for fiscal year 2023, ending December 31, 2023. The company, which provides growth capital to real estate developers, reported a 29% increase in revenue, reaching $8.9 million compared to $6.9 million in 2022.

Operating profit surged by 243%, climbing to $3.7 million from $1.1 million in the previous year. Shareholder equity also saw a rise, growing by 26% from $14.3 million in 2022 to $18.1 million in 2023.

CEO Paul Carrazzone expressed satisfaction with the company's operational growth and affirmed Legion Capital's position for continued growth in its core business.

Positive

• Revenue increased by 29% to $8,901,527 in 2023.
• Operating profit rose by 243% to $3,692,651 in 2023.
• Shareholder equity increased by 26% to $18,117,621 in 2023.
• Third consecutive year of operating profitability.

Negative

• No negative financial or business aspects were reported in the PR.

Specialized Lender reports record profits and third consecutive year of operating profitability

ORLANDO, Fla., June 11, 2024 (GLOBE NEWSWIRE) -- Legion Capital (OTC: LGCP), a specialized lender providing growth capital to small and medium sized real estate developers, today announced audited financial results for its fiscal year 2023 ended December 31, 2023. Highlights from the 1-K annual report filed are:

• Revenue increased to $8,901,527 in 2023 from $6,876,274 in 2022, a 29% increase.
• The Company reported an increased year over year annual profit with a reported operating profit of $3,692,651 in 2023 compared to a reported operating profit of $1,078,094 in 2022, an increase of 243%.
• Shareholder equity increased from $14,330,038 in 2022 to $18,117,621 in 2023, a 26% increase.
  

“2023 was another solid year of operational growth for Legion Capital and we are pleased with the improvement in our operating profits,” stated Legion Capital CEO Paul Carrazzone. “We believe Legion remains well positioned for continued growth as we work to continue the development of our core business for the benefit of our investors and shareholders.”

About Legion Capital
Legion Capital (OTC: LGCP) is a specialized lender providing growth capital to small and medium sized real estate developers. Legion provides bridge funding, acquisition finance, development, and growth capital in a highly customized and expeditious manner, addressing a large and growing segment of real estate development lending that is under-served by banks and institutions.

Legion Capital serves our Investors and Financial Representatives through a suite of diversified equity and debt investment products, many of which offer attractive yields, non-correlation to traditional financial markets, and defined liquidity dates. For more information, please visit www.LegionCapital.com.

Disclaimer:
Certain statements that we make in this information piece may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “projects,” “forecasts,” and future or conditional verbs such as “will” “may,” “could,” “should,” and “would,” as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in any Offering Documents associated with this information piece. We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether the result of new information, future events or otherwise. Legion is a private lender, and not a member of FINRA or FDIC.

Media Contact
Investor Relations
Jamison Lenczyk
jamisonl@legioncapital.com
407-720-4616

FAQ

What is Legion Capital's revenue for 2023?

Legion Capital's revenue for 2023 was $8,901,527, an increase of 29% from the previous year.

How much did Legion Capital's operating profit increase in 2023?

Legion Capital's operating profit increased by 243% in 2023, reaching $3,692,651.

What is the stock symbol for Legion Capital?

The stock symbol for Legion Capital is LGCP.

What was Legion Capital's shareholder equity in 2023?

Legion Capital's shareholder equity in 2023 was $18,117,621, an increase of 26% from the previous year.

When did Legion Capital announce its 2023 financial results?

Legion Capital announced its 2023 financial results on June 11, 2024.