Landsea Homes reports Q3 adjusted EPS 44c, consensus 7c

Reports Q3 revenue $338.5M, consensus $345.13M. “Landsea Homes (LSEA) delivered strong top and bottom-line growth in the Q3, as new home deliveries increased 40% year-over-year,” said John Ho, CEO of Landsea Homes. “Home sales gross margin came in above our stated guidance range at 17.1%, and SG&A as a percent of home sales revenue improved 250 basis points as compared to the third quarter of 2023. The net result was earnings of 30c per diluted share, representing a 36% improvement over the prior year period.”