Legacy Housing Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 08, 2022 at 04:19 pm EST
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Legacy Housing Corporation reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 57.33 million compared to USD 56.47 million a year ago. Net income was USD 14.74 million compared to USD 12.99 million a year ago. Basic earnings per share from continuing operations was USD 0.6 compared to USD 0.54 a year ago. Diluted earnings per share from continuing operations was USD 0.58 compared to USD 0.54 a year ago.
For the nine months, revenue was USD 181.46 million compared to USD 145 million a year ago. Net income was USD 48.09 million compared to USD 36.34 million a year ago. Basic earnings per share from continuing operations was USD 1.97 compared to USD 1.5 a year ago. Diluted earnings per share from continuing operations was USD 1.92 compared to USD 1.5 a year ago.
Legacy Housing Corporation builds, sells, and finances manufactured homes and tiny houses. The Company manufactures and provides for the transport of mobile homes, provides wholesale financing to dealers and mobile home parks and provides retail financing to consumers and is involved in financing and developing new manufactured home communities. Its manufactured homes and tiny houses are distributed through a network of independent retailers and Company-owned stores and also sold directly to manufactured home communities. It operates primarily in the southern United States. The Company offers its customers an array of homes ranging in size from approximately 395 to 2,667 square feet consisting of one to five bedrooms, and one to 31/2 bathrooms. It manufactures its mobile homes at plants located in Fort Worth, Texas, Commerce, Texas and Eatonton, Georgia. Its homes are marketed under the Legacy brand name. It also sells homes directly to consumers, through its own retail stores.