Legacy Housing Corp ( (LEGH) ) has released its Q1 earnings. Here is a breakdown of the information Legacy Housing Corp presented to its investors.
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Legacy Housing Corp, a Texas-based company, specializes in manufacturing mobile homes and providing financing solutions to dealers, mobile home parks, and consumers. In its latest earnings report for the quarter ending March 31, 2025, Legacy Housing Corp reported a decrease in net revenue to $35.67 million from $43.24 million in the same period last year. The decline was primarily driven by reduced product sales, which fell from $30.83 million to $24.29 million. Despite the drop in revenue, the company maintained a solid net income of $10.28 million, although this was lower than the $15.14 million reported in the previous year.
Key financial metrics highlighted in the report include a decrease in product sales across various channels, with commercial sales experiencing a significant drop. However, the company saw a slight increase in inventory finance sales. The interest income from consumer, mobile home park, and dealer loans remained stable, contributing positively to the overall revenue. The company’s operating expenses decreased, reflecting cost management efforts, but the income from operations still fell to $11.59 million from $16.75 million.
Legacy Housing Corp’s balance sheet showed an increase in total assets to $544.61 million, up from $534.19 million at the end of 2024. The company’s cash position improved significantly, with cash on hand rising to $3.41 million from $1.15 million, indicating strong cash flow management. The company also reported a healthy stockholders’ equity of $503.73 million, up from $493.96 million, driven by retained earnings growth.
Looking forward, Legacy Housing Corp remains focused on enhancing its product offerings and expanding its market reach. The management is optimistic about leveraging its financial strength to navigate the challenges in the mobile home industry and capitalize on growth opportunities. The company continues to prioritize strategic investments and operational efficiencies to drive long-term value for its shareholders.