Landsea Homes Corporation - LSEA STOCK NEWS

Landsea Homes Corporation (NASDAQ: LSEA) has acquired 95 homesites in the Waterstone community of Palm Bay, Florida, expanding its offerings with two new neighborhoods: The Gardens and The Courtyards at Waterstone. The Gardens will feature 62 homes on 40-foot lots, while The Courtyards offers 33 homes on larger 50-foot and 60-foot lots. Both neighborhoods include High Performance Home features, promoting energy efficiency and smart home technology. The company aims to cater to first-time and move-up buyers in a growing market driven by local aerospace industry growth.

Landsea Homes Corporation (LSEA) reported strong second quarter 2022 results, with a 46.4% increase in home sales revenue to $351 million and a net income of $14.9 million ($0.34 per share). The company delivered 572 homes, reflecting a 35% year-over-year growth, and raised its backlog by 31.2% to $902.1 million. Home sales gross margin improved to 21.3%, driven by price appreciation. The company repurchased 5.1 million shares at an average price of $7.06 per share, positioning itself for continued profitability despite market uncertainties.

Landsea Homes Corporation (Nasdaq: LSEA) announced the complete sellout of its first East Coast development, Avora, a luxury waterfront community in Weehawken, New Jersey. The community features 183 LEED-certified homes priced between $650K and $4M. Each residence is designed for modern living with gourmet kitchens, high ceilings, and outdoor terraces offering views of the Hudson River and Manhattan skyline. Avora includes resort-style amenities and a prime location near public transportation, proving the strong demand for Landsea's offerings.

Landsea Homes Corporation (NASDAQ: LSEA) has appointed Jeff Wochner as the new Central Florida Division President. With 17 years of experience, Wochner will oversee Florida operations and aims to enhance the company's growth in the state. Following its entry into Florida in 2021, Landsea has secured 103 new homesites in Kissimmee and strengthened its market position with the acquisition of Hanover Family Builders. The company was also named Builder of the Year for 2022 and ranked 47th on the Builder 100 list.

Landsea Homes Corporation (Nasdaq: LSEA) will release its second-quarter 2022 results on August 4, 2022, before the market opens. A conference call to discuss these results is scheduled for the same day at 7:00 AM Pacific time (10:00 AM Eastern time). Investors can join the call using the provided dial-in numbers. The company, recognized as the 2022 Builder of the Year by BUILDER magazine, specializes in residential homebuilding in key markets across the U.S., including New York, California, Florida, and Texas.

Landsea Homes Corporation (Nasdaq: LSEA) launched its High Performance Home Program across Florida, introducing advanced features in 24 active and future planned communities. This initiative, supported by Apple®, focuses on home automation, sustainability, energy savings, and healthy living. Homebuyers can experience automation features in model homes. The homes are built with eco-friendly materials, including energy-efficient appliances and air purification systems, promoting environmentally conscious living.

Landsea Homes (Nasdaq: LSEA) has announced the launch of Landsea Mortgage, powered by NFM Lending, enhancing the home financing experience for its customers. This service aims to provide a streamlined loan process with superior customer support. NFM Lending, licensed in 48 states, will assist in home loans, while Landsea Homes continues to ensure competitive rates and diverse financing options. The company recently reported over $1 billion in revenue and was named 2022 Builder of the Year, following significant growth and market expansion.

Landsea Homes Corporation (Nasdaq: LSEA) announced the acquisition of 103 homesites in the Storey Creek master-planned community, Kissimmee, Florida. This development will feature single-family homes ranging from 1,635 to 3,198 square feet. Sales are expected to start in spring 2023. The new community will include amenities such as a resort-style pool, fitness center, and sports courts, enhancing the quality of life for residents. The company aims to provide high-performance, sustainable homes with modern automation technologies, contributing to energy savings and healthier living.

Landsea Homes Corporation (Nasdaq: LSEA) announced a share repurchase agreement for approximately $30 million in common stock from its controlling stockholder, Landsea Holdings Corporation (LHC), at a price of $6.82 per share, approximately 5% below the previous closing price. The transaction has been unanimously approved by an independent Special Committee and is expected to close around June 2, 2022. Following the buyback, LHC will own about 23.6 million shares, equating to 57.8% of the outstanding shares. LHC will also adhere to a 90-day lock-up on its remaining shares.