BEDFORD, Texas, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Legacy Housing Corporation ("Legacy" or the "Company," NASDAQ: LEGH) today announced its financial results for the second quarter ended June 30, 2025.
Financial Highlights
- Net revenue for the second quarter of 2025 was $50.2 million, an increase of 18.0% from the second quarter of 2024.
- Income from operations for the second quarter of 2025 was $16.8 million, an increase of 4.9% from the second quarter of 2024.
- Net income for the second quarter of 2025 was $14.7 million, a decrease of 9.2% from the second quarter of 2024.
- Basic earnings per share for the second quarter of 2025 was $0.61, a decrease of 9.0% from the second quarter of 2024.
- Book value per share1 for the second quarter of 2025 was $21.32, an increase of 11.2% from the second quarter of 2024.
- The Company repurchased 260,635 shares of common stock for $5.8 million in the open market during the three months ended June 30, 2025.
Duncan Bates, President and Chief Executive Officer, stated: "Higher average selling prices and increased unit volumes drove revenue growth during the second quarter. We continue to make solid progress across our retail footprint and land development projects. The decline in our share price during the quarter created an attractive opportunity to repurchase stock, underscoring our confidence in the long-term value of the business. While general market uncertainty and tariff-related risks remain, I'm pleased with the strong execution and resilience demonstrated by our team."
This shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Conference Call Information
Management will host a conference call to discuss the results at 10:00 AM Central Time on Friday, August 8, 2025. To access the conference call, please pre-register using this link. Registrants will receive confirmation with dial-in details.
About Legacy Housing Corporation
Legacy builds, sells, and finances manufactured homes and "tiny houses" that are distributed through a network of independent retailers and company-owned stores. The Company also sells directly to manufactured housing communities. Legacy is one of the largest producers of manufactured homes in the United States. With current operations focused primarily in the southern United States, we offer our customers an array of quality homes ranging in size from approximately 395 to 2,667 square feet consisting of 1 to 5 bedrooms, with 1 to 3 1/2 bathrooms. Our homes range in price, at retail, from approximately $33,000 to $180,000.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Securities and Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control. As a result, our actual results or performance may differ materially from anticipated results or performance. Legacy undertakes no obligation to update any such forward-looking statements after the date hereof, except as required by law. Investors should not place any reliance on any such forward-looking statements.
Investor Inquiries:
Duncan Bates, (817) 799-4837
duncanbates@legacyhousingcorp.com
Media Inquiries:
Kira Hovancik, (817) 799-4905
pr@legacyhousingcorp.com
1 Book value per share is a non-GAAP financial measure, and we define book value per share as total stockholders' equity divided by basic weighted-average common shares outstanding.
