Legacy Housing Corp
NASDAQ:LEGH
Legacy Housing Corp
Legacy Housing Corp. engages in the selling, building, and financing manufactured homes and tiny houses that are distributed through a network of independent retailers and company-owned stores and are sold directly to manufactured home communities. The company is headquartered in Bedford, Texas and currently employs 870 full-time employees. The company went IPO on 2018-12-14. The company operates primarily in the southern United States, it offers its customers an array of homes ranging in size from approximately 390 to 2,667 square feet consisting of one to five bedrooms, with one to 31/2 bathrooms. The firm manufactures and provides for the transport of mobile homes, provides wholesale financing to dealers and mobile home parks, provides retail financing to consumers, and is involved in financing and developing new manufactured home communities. The firm manufactures its mobile homes at plants located in Fort Worth, Texas, Commerce, Texas and Eatonton, Georgia. The firm relies on a network of dealers to market and sell its mobile homes. The firm also sells homes directly to dealers and mobile home parks.
Legacy Housing Corp. engages in the selling, building, and financing manufactured homes and tiny houses that are distributed through a network of independent retailers and company-owned stores and are sold directly to manufactured home communities. The company is headquartered in Bedford, Texas and currently employs 870 full-time employees. The company went IPO on 2018-12-14. The company operates primarily in the southern United States, it offers its customers an array of homes ranging in size from approximately 390 to 2,667 square feet consisting of one to five bedrooms, with one to 31/2 bathrooms. The firm manufactures and provides for the transport of mobile homes, provides wholesale financing to dealers and mobile home parks, provides retail financing to consumers, and is involved in financing and developing new manufactured home communities. The firm manufactures its mobile homes at plants located in Fort Worth, Texas, Commerce, Texas and Eatonton, Georgia. The firm relies on a network of dealers to market and sell its mobile homes. The firm also sells homes directly to dealers and mobile home parks.
Sales Weakness: Home sales fell $1.4 million or 4.8% year-over-year in Q3, with declines in sales to mobile home parks and independent dealers partially offset by better direct and company-owned retail sales.
Margins Hit: Product gross margin dropped sharply to 20.28% from 29.2% year-over-year in Q3, mainly due to higher raw material costs and tariffs.
Profit Down: Net income fell 45.3% to $8.6 million, and net income margin sank to 21.4% from 35.7% a year ago.
Price Increases: The company raised prices by 3–4% to offset higher costs, and management believes recent increases will cover much of the tariff impact.
Strong Loan Portfolio: Consumer and dealer loan portfolios saw continued growth and solid performance, with over 97% of loans performing as agreed.
AmeriCasa Acquisition: Legacy is acquiring AmeriCasa for about $22 million to boost company-owned retail and integrate remote management technology, aiming to increase retail unit sales by 50–100% in 2026.
Balance Sheet Resilient: Legacy ended the quarter with $13.6 million in cash and no debt on its revolving facility, and book value per share rose to $21.85.
Outlook: Q4 and early 2026 production expected to rise, especially in Texas, driven by strong show orders and data center-related housing demand.
