10-K · March 12, 2026
Legacy Housing describes a vertically integrated manufactured-homes business focused primarily in the southern U.S., operating three factories and selling through >80 independent and 14 company-owned retail locations…
Earnings analysis · 10-Q
LEGH earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Legacy Housing Corporation's Q1 2026 results show declining revenues and reduced operating metrics year-over-year, with net revenue down 3.7% to $34.366 million and product sales dropping by 11.3% due to lower unit…
Read full summary
Legacy Housing Corporation's Q1 2026 results show declining revenues and reduced operating metrics year-over-year, with net revenue down 3.7% to $34.366 million and product sales dropping by 11.3% due to lower unit volumes. However, net income rose to $10.928 million, demonstrating strong profitability despite ongoing challenges in sales volume and rising costs from tariffs.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.44
What stood out
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Net Revenue Decline
Total net revenue decreased by 3.7% to $34.366 million, down from $35.670 million in Q1 2025.
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Unit Sales Drop
Units sold fell 10.9% from 350 in Q1 2025 to 312 in Q1 2026, impacting product sales.
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Increased Net Income
Net income rose to $10.928 million, compared to $10.276 million in Q1 2025, a growth of 6.3%.
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Improved Operating Cash Flow
Net cash provided by operating activities increased by 41.6% to $6.951 million from $4.908 million in the previous year.
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Cash Position Strengthens
Cash at end of the period increased to $14.111 million, up from $8.478 million at the start of the quarter.
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Cost Reduction in Product Sales
Cost of product sales decreased by 13.1% to $14.936 million from $17.192 million in Q1 2025.
What to watch
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Unit Sales Volatility
Product sales decreased by 11.3%, primarily due to a 10.9% drop in units sold from Q1 2025.
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Raw Material Cost Pressures
Elevated input costs from tariffs continue to challenge gross margins, impacting overall profitability.
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Operational Challenges
Material weaknesses in internal controls over financial reporting identified, raising concerns about financial disclosures.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · August 7, 2025
Legacy Housing reported Q2 net revenue of $50,161,000 (three months ended June 30, 2025), up $7,666,000 (+18.0% YoY) and up $14,491,000 (+40.6% sequentially). Gross margin compressed to 47.06% and diluted EPS was $0.60…
10-K · March 12, 2025
Legacy Housing positions itself as a vertically integrated manufacturer and financier of affordable manufactured homes, selling 2,471 home sections in 2024 and operating three U.S. factories that produced 624, 504 and…
10-Q · November 12, 2024
Legacy Housing reported Q3 net revenue of $44,266,000, down 11.4% year-over-year (Q3 2023: $49,937,000) but up 38.3% sequentially (Q2 2024: $32,000,000). Diluted EPS was $0.64 (vs. consensus $0.60) and operating margin…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.