Legacy Housing Corporation Reports First Quarter 2025 Financial Results

Core Viewpoint - Legacy Housing Corporation reported a decline in financial performance for the first quarter of 2025, with net revenue decreasing by 17.5% compared to the same period in 2024, despite achieving a record book value of over $500 million [3][7]. Financial Performance - Net revenue for Q1 2025 was$35.7 million, down 17.5% from Q1 2024 [7]. - Income from operations for Q1 2025 was $11.6 million, a decrease of 30.8$10.3 million, reflecting a 32.1% decline from Q1 2024 [7]. - Basic earnings per share for Q1 2025 were $0.43, down 30.6$20.87, an increase of 13.1% from Q1 2024 [7][8]. Company Developments - The company simplified its product offerings and introduced a new financing solution for community owners [3]. - Legacy added industry veterans to key manufacturing and retail positions to enhance operations [3]. - The company is optimistic about future performance despite the current challenges [3]. Company Overview - Legacy Housing Corporation builds, sells, and finances manufactured homes and tiny houses, primarily in the southern United States [5]. - The company is one of the largest producers of manufactured homes in the U.S., offering homes ranging from approximately 395 to 2,667 square feet, with prices between $33,000 and$180,000 [5].