LANDSEA HOMES Reports Q2 2023 Earnings Results on June 30th

🌥️Earnings Overview

LANDSEA HOMES ($NASDAQ:LSEA) reported total revenue of USD 293.2 million for the second quarter of fiscal year 2023, a 20.5% decrease from the same period last year. Net income also decreased dramatically, down 66.9% to USD 5.0 million. These results were announced on June 30 2023.

Price History

On Tuesday, June 30th, LANDSEA HOMES reported their Q2 2023 earnings results. The stock opened at $10.1 and closed at $10.4, representing a 5.7% increase from the closing price of 9.9 on the previous trading day. The reported earnings were in line with analyst expectations and demonstrated a strong quarter for the company. Operating expenses dropped significantly, indicating that LANDSEA HOMES was able to continue its cost cutting efforts while continuing to grow its business. The company also revealed its plans to expand its operations into new markets, and announced that it would be launching a new product line in the second half of the year.

This expansion is expected to drive additional growth and increase profits for the company in the long-term. Overall, investors reacted positively to the quarterly report, pushing the stock up 5.7% from the previous day’s closing price. Going forward, investors can expect LANDSEA HOMES to continue its growth trajectory as it continues to execute on its strategy of expansion and cost-reduction. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Landsea Homes. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Landsea Homes. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Landsea Homes. More…

Key Ratios Snapshot

Some of the financial key ratios for Landsea Homes are shown below. More…

Analysis

GoodWhale has conducted an analysis of LANDSEA HOMES‘ wellbeing and classified it as ‘rhino’ according to the Star Chart. This classification suggests that LANDSEA HOMES has achieved moderate revenue or earnings growth. It is likely that value investors would be interested in this type of company, as they typically target businesses with a low price-to-earnings ratio or steady cashflows and dividend payouts. On the other hand, LANDSEA HOMES has a high health score of 8/10 considering its cashflows and debt, suggesting that it is capable to sustain future operations in times of crisis. Its strengths lie in asset and growth, while it is medium in profitability and weak in dividend. Therefore, it may not be the best option for income investors or those looking for frequent dividend payments. More…

Peers

The company’s main competitors are Five Point Holdings LLC, Wallenstam AB, and Gordon I Corp.

– Five Point Holdings LLC ($NYSE:FPH)

Five Point Holdings LLC is a real estate investment trust that owns, develops, and manages mixed-use properties in the United States. The company has a market cap of 162.37M as of 2022 and a Return on Equity of 1.18%. Five Point’s portfolio includes residential, commercial, and retail properties. The company’s properties are located in California, Colorado, and Texas.

– Wallenstam AB ($LTS:0R7Y)

Wallenstam AB is a Swedish real estate company that owns, develops, and manages properties in the Stockholm region. The company has a market cap of 24.97B as of 2022 and a return on equity of 12.13%. Wallenstam’s portfolio includes office, retail, residential, and industrial properties. The company is headquartered in Stockholm, Sweden.

Summary

Investors may be interested in Landsea Homes‘ second-quarter earnings results for fiscal year 2023, which were released on June 30, 2023. Total revenue of USD 293.2 million was down 20.5% year-over-year, while net income decreased 66.9% to USD 5.0 million. Despite the disappointing results, Landsea Homes’ stock price moved up on the news. Investing in Landsea Homes may be risky for the short-term, but could be rewarding in the long run if the company can turn its fortunes around.