Quarterly ResultMay 7, 2026, 04:01 PM
Legacy Housing Q1 Net Income +6.3% to $10.9M; EPS $0.46
AI Summary
Legacy Housing Corp reported a 6.3% increase in net income to $10.9 million for Q1 2026, with diluted EPS rising 12.2% to $0.46. Total net revenue decreased by 3.8% to $34.4 million, primarily due to an 11.3% decline in product sales, offset by a 6.2% increase in loan interest income. The company received a significant $7.1 million advance deposit for a large manufactured home order, with deliveries expected to begin in Q2 2026.
Key Highlights
- Net income increased 6.3% to $10.9 million for Q1 2026, up from $10.3 million in Q1 2025.
- Diluted earnings per share rose 12.2% to $0.46 in Q1 2026, compared to $0.41 in Q1 2025.
- Total net revenue decreased 3.8% to $34.4 million in Q1 2026, down from $35.7 million in Q1 2025.
- Product sales declined 11.3% to $21.6 million, while loan interest income grew 6.2% to $11.3 million.
- Cash balance increased to $14.1 million as of March 31, 2026, from $8.5 million at December 31, 2025.
- Received a $7.1 million non-refundable advance deposit for a large manufactured home order.
- Net cash provided by operating activities increased 41.6% to $7.0 million in Q1 2026.
- Inventories, net, increased to $50.4 million at March 31, 2026, from $39.9 million at December 31, 2025.