Landsea Homes reports Q4 non-GAAP EPS 25c vs. 43c last year

Reports Q4 revenue $483.7M, consensus $514.79M. “Landsea Homes (LSEA) produced strong year-over-year top-line growth of 22% in Q4 2024, driven primarily by a 41% increase in new home deliveries,” said CEO John Ho. “For the full year of 2024, total revenues came in at a record $1.6B, and the company closed the highest level of new home deliveries in its history at 2,831. These results were made possible by the great execution and hard work from our team members, as well as the strategic growth initiatives we’ve pursued since our company’s founding. We generated 636 net new orders during Q4, which represented a 60% increase as compared to Q4 of 2023…During the quarter we generated $47.8M in cash from our operations. We believe we are in a strong position as we head into the spring selling season, thanks to our great community locations and our unique product portfolio. Our High-Performance Homes continue to stand out from the competition, both in terms of quality and value, and we feel this differentiation is key to winning over discerning buyers in the market for a new home. As a result, I remain optimistic about the long-term outlook for our company.”