Landsea Homes Q4 2022 Earnings Report
Key Takeaways
Landsea Homes reported a 6.9% increase in total revenue to $426.0 million, driven by the Florida division and New York operations. Net income was $25.6 million, or $0.62 per diluted share. Total homes delivered increased 32% to 703 homes, with an average sales price of $594,000.
Home sales revenue increased 25% year-over-year to $417.5 million.
Total homes delivered increased 32% to 703 homes.
Net income was $25.6 million, or $0.62 per diluted share.
New order activity saw sequential improvement in December, continuing into January and February.
Landsea Homes
Landsea Homes
Landsea Homes Revenue by Segment
Landsea Homes Revenue by Geographic Location
Forward Guidance
Landsea Homes provided guidance for the first quarter of 2023, anticipating new home deliveries to be in the range of 400 to 445, delivery ASPs expected to be in the range of $520,000 to $525,000 and home sales gross margins between 17% and 18% on a GAAP basis and between 21% and 22% on an adjusted basis.