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Dec 31, 2022
Legacy Housing Q4 2022 Earnings Report
Legacy Housing reported record full year results driven by strong performance in Texas plants and progress in the Georgia plant.
Key Takeaways
Legacy Housing Corporation reported a record year in 2022, with significant increases in net revenue, income from operations, and net income. The company's Texas plants operated near peak capacity, and loan portfolios performed well. Progress was made at the Georgia plant during the fourth quarter, with production improving but still below historical levels. Despite a challenging market, the overall backlog remains healthy.
Net revenue increased by 30.1% compared to the previous year.
Income from operations increased by 32.4% compared to the previous year.
Net income increased by 35.9% compared to the previous year.
Basic earnings per share increased by 35.0% compared to the previous year.