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Legacy Housing Corp (LEGH)
NASDAQ:LEGH
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Earnings Data
Report Date
Mar 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.55Last Year’s EPS
$0.26Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -8.07%
|Next Earnings Date:Mar 12, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with notable achievements in loan portfolio growth, successful sales events, and land development progress. However, there were significant challenges including a decline in product sales and gross profit margins, alongside high interest rates impacting transaction volumes.Company Guidance
During the Legacy Housing Corporation's third quarter 2024 earnings call, several key metrics were highlighted regarding the company's financial performance and strategic initiatives. Product sales decreased by $6.8 million or 18.3%, primarily due to lower unit volumes in direct sales and mobile home park sales, while consumer MHP and dealer loan interest income increased by $1.5 million or 17.3%, driven by portfolio growth. The MHP loan portfolio rose by $22 million, and the consumer loan portfolio increased by $15.6 million over the year. Despite a 13.9% reduction in the cost of product sales, the gross profit margin fell from 32.9% to 29.2% due to lower production levels. Net income slightly decreased by 1.8% to $15.8 million, with basic earnings per share down by 1.5%. The company's book value per basic share increased by 12.7% to $19.84, reflecting strong financial management. Operational updates included successful fall show orders extending into 2025, a 27% uptick in October sales over September, and strategic focus on expanding the dealer network in key areas such as South Texas, Florida, and the Carolinas.Interest Income Growth
Consumer MHP and dealer loans interest income increased by $1.5 million or 17.3% during the third quarter of 2024 compared to the same period in 2023.
Increase in Loan Portfolios
MHP loan portfolio increased by $22.0 million, and the consumer loan portfolio increased by $15.6 million between September 2023 and September 2024.
Successful Fall Show
The 2024 fall show hosted a record number of customers, leading to orders that extended the backlog into Q1 2025.
Increase in Retail Finance Applications
Applications were up 16% for Q3 2024 compared to Q3 2023, with October 2024 retail finance funding being the highest recorded since December 2020.
Land Sales and Development
Sold excess land in Horseshoe Bay for $2.7 million and progressing on land development projects with significant value increases.
Book Value Increase
Legacy's book value per basic share outstanding was $19.84, an increase of 12.7% from the same period in 2023.
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LEGH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LEGH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $26.88 | $26.24 | -2.38% |
| Aug 08, 2024 | $26.36 | $26.04 | -1.21% |
| May 09, 2024 | $21.14 | $23.41 | +10.74% |
| Mar 15, 2024 | $25.19 | $21.26 | -15.60% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Legacy Housing Corp (LEGH) report earnings?
Legacy Housing Corp (LEGH) is schdueled to report earning on Mar 12, 2025, TBA Not Confirmed.
What is Legacy Housing Corp (LEGH) earnings time?
Legacy Housing Corp (LEGH) earnings time is at Mar 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LEGH EPS forecast?
LEGH EPS forecast for the fiscal quarter 2024 (Q4) is $0.55.
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