Legacy Housing reports Q3 EPS 66c, consensus 58c

Reports Q3 revenue $49.9M, consensus $53.51M. Duncan Bates, CEO, stated: “The need for affordable housing in the United States is undeniable. Mortgage rates have increased drastically, median home prices have held, and large numbers of potential homebuyers are priced out of the traditional housing market. Leading indicators for manufactured housing, such as retail traffic and loan applications, point toward a gradual recovery for our industry. Legacy’s 2023 Fall Show, our annual sales event in early October, was one of the most successful shows in the company’s history. We are ramping production at our Texas plants, expanding our sales effort in the Southeast, growing our loan portfolios, and diligently managing expenses.”