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Dec 31, 2024
Landsea Homes Q4 2024 Earnings Report
Reported record fourth quarter home sales revenue and home closings, driven by increased deliveries and strategic growth initiatives.
Key Takeaways
Landsea Homes reported a strong Q4 2024 with a 22% increase in total revenue, driven by a 41% increase in new home deliveries. Net new home orders also saw a significant 60% increase. However, net income attributable to Landsea Homes decreased by 76% to $3.0 million.
Record fourth quarter home sales revenue of $450.6 million.
Record fourth quarter home closings of 937, up 41%.
Net new home orders increased by 60% to 636 homes.
Cash from operations for the fourth quarter was $47.8 million.
Revenue by Geographic Location
Forward Guidance
Landsea Homes anticipates new home deliveries to be in the range of 600 to 700, delivery ASPs expected to be in a range of $475,000 to $500,000, and home sales gross margins between 13% and 14% on a GAAP basis and between 18% and 19% on an adjusted basis for Q1 2025.
Positive Outlook
- New home deliveries anticipated to be in a range of 600 to 700 for Q1 2025.
- Delivery ASPs expected to be in a range of $475,000 to $500,000 for Q1 2025.
- Home sales gross margins between 13% and 14% on a GAAP basis for Q1 2025.
- Home sales gross margins between 18% and 19% on an adjusted basis for Q1 2025.
- New home deliveries anticipated to be in a range of 3,000 to 3,400 for FY 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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