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Mar 31, 2021
Legacy Housing Q1 2021 Earnings Report
Legacy Housing Corporation's financial results for Q1 2021 were announced, demonstrating revenue and net income growth despite weather-related disruptions.
Key Takeaways
Legacy Housing Corporation reported a revenue of $39.9 million and a net income of $9.0 million for the first quarter of 2021. The company experienced a 4.4% increase in revenue and a $0.8 million increase in net income compared to the first quarter of 2020, adjusting for a one-time settlement. The results were achieved despite weather-related disruptions that impacted Texas-based operations.
Net revenue increased by 4.4% to $39.9 million compared to Q1 2020.
Interest revenue from consumer and mobile home park portfolios increased by 3.3% to $6.6 million.
Selling, general, and administrative expenses decreased by 14.6% to $4.8 million.
Net income increased by $0.8 million, driven by energy efficiency tax credits.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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