From GlobeNewswire: 2025-05-12 20:48:00

Landsea Homes Corporation reported a 2.3% increase in home sales revenue to $299.4 million for the first quarter of 2025. New home deliveries rose by 27.3% to 643 homes, with net new home orders increasing by 11.1% to 679 homes. The company reported a pretax loss of $9.9 million for the quarter, with a net loss of $7.1 million. Home sales gross margin was 13.0%, adjusted to 20.0%. Landsea Homes had total revenue of $310.8 million, a 6% increase compared to the first quarter of 2024. The company will hold a conference call on May 13, 2025, to discuss its results. Total lots owned or controlled at March 31, 2025, were 10,516, compared to 10,349 at March 31, 2024. Total debt was $727.5 million compared to $725.4 million at December 31, 2024. Landsea Homes’ ratio of debt to capital was 52.1% at March 31, 2025, and the net debt to total capital was 48.3%. Adjusted EBITDA was $13.5 million compared to $17.0 million in the prior year period. Adjusted net loss attributable to Landsea Homes was $1.7 million, compared to adjusted net income of $3.5 million in the prior year period. Home sales gross margin was 13.0%, or 20.0% adjusted for certain factors. Net loss attributable to Landsea Homes was $7.3 million. Total homes in backlog were 426 homes with a dollar value of $230.8 million at March 31, 2025. Landsea Homes Corporation is a publicly traded residential homebuilder based in Dallas, Texas. The company designs and builds homes and sustainable master-planned communities in desirable markets across the country. Landsea Homes’ High Performance Homes feature home automation technology supported by Apple and sustainability features for energy savings. The company’s stock repurchase program allows for the purchase of common stock in accordance with federal securities laws. Investor Relations Contact: Drew Mackintosh, CFA. Media Contact: Annie Noebel. Consolidated Balance Sheets and Statements of Operations for the three months ended March 31, 2025, were also provided. Net debt to total capital was reported as 48.3%.



Read more at GlobeNewswire: Landsea Homes Reports First Quarter 2025 Results