Legacy Housing reports Q1 basic EPS 62c, consensus 38c

Reports Q1 revenue $43.2M, consensus $38.17M. CEO Duncan Bates stated: “Legacy’s business fundamentals have not changed. There was a disconnect after our fourth quarter earnings, and we used the opportunity to repurchase stock for the first time since 2020. Our profitability during the first quarter was strong and sales volumes are improving. We hosted dealer and park customers in late April at our Georgia plant for our first Spring Show since 2020. It gave us the opportunity to showcase product improvements, sell finished goods inventory, and build our backlog. We are focused on unlocking trapped value on our balance sheet and accelerating earnings growth.”