Legacy Housing Q3 revenue rises on strong home sales

Overview

• US manufactured home builder's Q3 revenue rose 72% yr/yr on strong home sales

• Net income and EPS grew from a year earlier

Outlook

• Company expects to open Bastrop community for lot and home sales in 2027

• Legacy says it is investing in plants and people to increase capacity

Result Drivers

• HOME SALES VOLUME - Co said strong home sales led the quarter, with 635 homes sold versus 420 a year earlier

• HERITAGE STORE SALES - Heritage stores grew sales as they prepared for new 2027 models

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the homebuilding peer group is "hold."

• Wall Street's median 12-month price target for Legacy Housing Corp (Texas) is $29.00, about 5.1% below its November 3 closing price of $30.57

• The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads

• Nov 3 - Champion Homes Q2 sales slightly beat estimates

• Nov 3 - LGI Homes Q3 adjusted EPS beats on higher closings, cost controls

• Nov 4 - Smith Douglas Homes Q3 profit drops as revenue stays flat in challenging market

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)