Legacy Housing reports Q2 EPS 62c, consensus 62c

Reports Q2 revenue $52.6M, consensus $55.18M. Duncan Bates, President and Chief Executive Officer, stated: “I am pleased with Legacy’s second quarter performance. According to Manufactured Housing Institute data, industry home shipments through May 2023 are down 29.0% year over year. However, housing affordability in the U.S. continues to deteriorate and retail traffic in our industry is accelerating. Loan applications at our company-owned retail stores hit a 12-month high in July 2023. We continue to focus on sales and cost management, and we recently closed a new Revolving Credit Facility which provides additional flexibility to pursue growth opportunities.”