Legacy Housing Corporation's 2024 Financial Overview Unveiled

Author: Evelyn Baker Updated: 03-12-2025 05:16 PM

Legacy Housing Corporation Shares 2024 Financial Results

Legacy Housing Corporation (NASDAQ: LEGH) has recently made headlines by revealing its financial outcomes for the year that concluded on December 31, 2024. This information sheds light on the company's performance amidst the evolving housing landscape in the United States.

Key Financial Highlights for 2024

The financial summary of Legacy Housing for 2024 is notable. The net revenue reached an impressive $184.2 million, which, although a decrease of 2.6% compared to the previous year, showcases the company’s resilience in a competitive market. Furthermore, the income from operations stood at $63.6 million, exhibiting a modest decline of 1.5% from 2023.

Growth in Net Income and Earnings Per Share

While the revenue showcased slight dips, the net income saw a significant jump to $61.6 million, reflecting an increase of 13.2%. This growth underscores the company's ability to improve its bottom line even when facing challenges. Additionally, basic earnings per share reached $2.55, marking a 14.3% increase from the preceding year.

Enhanced Book Value Indicates Strong Foundation

In terms of asset management, Legacy Housing demonstrated solid performance with a book value of $494 million, a commendable increase of 13.1%. The book value per share also rose to $20.40, which reflects an increase of 13.9%. These indicators suggest that the company is on solid financial footing, providing a strong basis for future growth and shareholder confidence.

A Statement from Leadership

Duncan Bates, President and CEO of Legacy Housing Corporation, expressed optimism regarding the future. He stated, "Affordable housing is a pressing necessity in the U.S., and we have seen a robust demand. Legacy is strategically positioned for the upcoming year. Our business model offers numerous avenues to efficiently deploy capital and enhance shareholder value." Bates highlighted that the company has successfully increased its book value by nearly 60% over a span of three years.

Upcoming Conference Call

Management has announced an upcoming conference call scheduled for 10:00 AM Central Time on March 13, 2025. This session will provide an opportunity for stakeholders to engage directly with the company representatives and delve deeper into the financial results. Participants are encouraged to pre-register to obtain dial-in details.

Overview of Legacy Housing Corporation

Legacy Housing Corporation specializes in the construction, sales, and financing of manufactured homes and tiny houses through an extensive network of independent retailers. Additionally, they sell directly to manufactured housing communities. The company is among the largest producers in the sector within the United States, with operations primarily concentrated in the southern regions. Their offerings include a variety of homes, ranging from approximately 395 to 2,667 square feet, and prices range from about $33,000 to $180,000, making them accessible to a diverse clientele.

Frequently Asked Questions

What were the net revenues for Legacy Housing Corporation in 2024?

The net revenues for Legacy Housing Corporation in 2024 were $184.2 million.

How much did the net income increase for 2024?

The net income for 2024 increased to $61.6 million, reflecting a growth of 13.2% from the prior year.

What does Legacy Housing specialize in?

Legacy Housing focuses on building, selling, and financing manufactured homes and tiny houses.

When is the upcoming conference call scheduled?

The conference call is set for 10:00 AM Central Time on March 13, 2025.

What is the book value per share for 2024?

The book value per share for Legacy Housing Corporation in 2024 was $20.40.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

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