Legacy Housing Corporation reported its financial results for the first quarter ended March 31, 2025, with net income of $10.3 million. The company achieved earnings per share of 41 cents for the quarter. While product sales and net income declined, the company observed growth in its loan portfolios.
President and CEO Duncan Bates stated that inventory finance sales were ahead of expectations, but first-quarter results were negatively impacted by lower-than-expected shipments to communities. In response, Legacy simplified its product offering, introduced a new financing solution for community owners, and added industry veterans to key manufacturing and retail positions.
A significant milestone for the company was its book value topping $500 million for the first time in Legacy Housing's history during the first quarter. This achievement reflects the company's sustained growth in shareholder equity. Management remains optimistic about the year, despite the initial challenges in community shipments.
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