Earnings Call Summary | Legacy Housing(LEGH.US) Q4 2023 Earnings Conference
Earnings Call Summary | Legacy Housing(LEGH.US) Q4 2023 Earnings Conference
The following is a summary of the Legacy Housing Corporation (LEGH) Q4 2023 Earnings Call Transcript:
以下是傳統住房公司(LEGH)2023年第四季度業績電話會議記錄的摘要:
Financial Performance:
財務業績:
Legacy Housing saw a one-time increase of $29.1 million in product sales in 2022, with about $20 million recognized in Q4 of 2022.
The effective tax rate increased from 17.5% in 2022 to 20.8% in 2023 due to changes in energy tax programs, but is expected to drop to around 18% in 2024.
The adoption of the CECL led to a $900,000 increase in portfolio allowances.
Managed to reduce SG&A by 11.9% and controlled overhead expenses effectively, resulting in net income margins of 29% for 2023.
2022年,Legacy Housing的產品銷售額一次性增長了2910萬美元,2022年第四季度確認了約2,000萬美元。
由於能源稅計劃的變化,有效稅率從2022年的17.5%提高到2023年的20.8%,但預計將在2024年降至18%左右。
CECL的採用使投資組合準備金增加了90萬美元。
設法將銷售和收購減少了11.9%,並有效地控制了管理費用,使2023年的淨收入利潤率達到29%。
Business Progress:
業務進展:
Dealer sign-ups reached their highest level since early 2023, with the retail side of the business expected to recover gradually in 2024.
Due to worsening housing affordability in the U.S., the company sees opportunities with its products targeted at lower-income households.
Despite shipment delays impacting Q4 sales, the company sees growth potential in the workforce housing segment and remained focused on improving working capital and employment.
A plan to increase retail presence through company-owned stores targets higher retail margins and better financing opportunities.
While maintaining strong performance in their consumer loan portfolios and focusing on strategic projects for long-term stability, the company also considers divesting some properties for potentially high returns.
經銷商註冊人數達到2023年初以來的最高水平,零售業務預計將在2024年逐步恢復。
由於美國住房負擔能力的惡化,該公司看到了針對低收入家庭的產品的機會。
儘管發貨延誤影響了第四季度的銷售,但該公司看到了勞動力住房領域的增長潛力,並繼續專注於改善營運資金和就業。
一項通過公司自有門店增加零售業務的計劃旨在提高零售利潤率和更好的融資機會。
在保持消費貸款組合的強勁表現並專注於戰略項目以實現長期穩定的同時,該公司還考慮剝離部分房產以獲得潛在的高回報。
More details: Legacy Housing IR
更多詳情: 傳統房屋 IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示:欲了解更多詳情,請訪問投資者關係網站。本文僅供投資者參考,不構成任何投資建議。
譯文內容由第三人軟體翻譯。