Landsea homes reports second quarter 2024 results

Dallas, aug. 01, 2024 (globe newswire) -- landsea homes corporation (nasdaq: lsea) (“landsea homes” or the “company”) announced today financial results for the second quarter ended june 30, 2024. for the quarter, the company reported pretax income of $4.6 million, and net income of $2.9 million, or $0.08 per share. reported income for the quarter includes a $5.2 million or $0.10 per diluted share impact related to a non-cash deferred financing cost write-off associated with the re-cast of the company's unsecured revolving credit facility. excluding the loss from the deferred financing cost write-off, net income was $6.5 million or $0.18 per share. adjusted net income (a non-gaap measure) was $13.3 million or $0.36 per share and adjusted gross margin was 21.1%. reported pretax income for the prior year period was $7.5 million with net income of $4.9 million, or $0.12 per share. for the prior year period, adjusted net income was $13.0 million, or $0.33 per share and adjusted gross margin was 23.5%.
LSEA Ratings Summary
LSEA Quant Ranking