Filing Flows › Legacy Housing (LEGH) › Q1 2025
Legacy Housing (LEGH) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Legacy Housing (LEGH) reported revenue of $35.7M for the first quarter 2025 (Q1 2025), -18% from a year earlier and -34% from the quarter before. Operating margin was 32.5%, net earnings $10.3M (28.8% of revenue).
Legacy Housing, Q1 2025: revenue $35.7M (-18% year over year), operating margin 32.5%, net earnings $10.3M, operating cash flow $4.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $35.7M | -34% | -18% |
| Operating profit | $11.6M | -25% | -31% |
| Net earnings | $10.3M | -29% | -32% |
| Operating cash flow | $4.9M | -38% | -55% |
| Free cash flow | $3.6M | -39% | -63% |
What changed
Revenue was $35.7M in Q1 2025, down 18% year over year and down 34% from the previous quarter. Inventory finance sales was the largest line at 31% of revenue. Commercial sales lost $6.8M year over year (down 50%), 90% of the total change.
Operating profit was $11.6M, a 32.5% margin (down 6.2 points year over year). Total costs fell 9% while revenue fell 18%. The fastest-growing cost line was Other operating costs (+273%). Net earnings were $10.3M, down 32% year over year. The effective tax rate was 19.3%.
Operating cash flow was $4.9M (down 55% year over year), 48% of net earnings. Non-cash charges added back $423K of depreciation and amortization and $171K of share-based compensation. Working capital and other items used $6.0M. Capital expenditures of $1.3M left free cash flow of $3.6M.
Questions
What was Legacy Housing's revenue in the first quarter 2025?
Legacy Housing (LEGH) reported revenue of $35.7M for the first quarter 2025 (Q1 2025), -18% from a year earlier and -34% from the quarter before.
Was Legacy Housing profitable in the first quarter 2025?
Operating profit was $11.6M (32.5% of revenue) and net earnings $10.3M.
Source: Legacy Housing 10-Q on SEC EDGAR.