Legacy Housing Corp (Texas) (LEGH) News & EventsLEGHNews & EventsLegacy Housing Corp (Texas)

Legacy Housing signs deal to acquire assets from AmeriCasa Solutions

Legacy Housing Corporation announced entering into agreement to purchase the assets of AmeriCasa Solutions and its proprietary sales management platform. Legacy Housing also announced the appointment of Norman Newton, AmeriCasa's CEO, as Legacy Housing's new Chief Revenue Officer. As part of a strategic shift to accelerate revenue growth, Legacy Housing is implementing a three-pronged approach that includes: Expanding the number of its company-owned retail locations, Increasing its sales volume through company-owned stores and affiliates by leveraging advanced technology and sales support, and Adding a CRO to its leadership team. In alignment with this strategy, on October 30, 2025, Legacy Housing entered into an agreement to acquire substantially all of the assets of AmeriCasa Solutions and its FutureHomeX Platform in an all-cash transaction. The integration of the FutureHomeX Platform is expected to enhance the homebuying experience and drive sales growth across retail dealerships and communities through a more systematic, consistent and automated process. The acquisition also includes a high-performing retail dealership in Houston, a chattel mortgage loan portfolio, an insurance agency and a services center located in Bogota, Colombia. Closing of the transaction is to occur on or before November 28, 2025. AmeriCasa Solutions Co-Founder and CEO Norman Newton will join Legacy Housing under a five-year employment agreement serving as its CRO.

Legacy Housing reveals departures of CEO, CFO, and General Counsel.

Legacy's realignment includes a change to the Company's executive leadership team. Following a comprehensive year-long strategic review conducted by the Company's Board of Directors with assistance from a leading investment banking firm, the Company's Chief Executive Officer, Chief Financial Officer and General Counsel have resigned. While the Board of Directors is evaluating candidates for the Company's new management team, Company co-founder and Chairman Kenny Shipley will serve as interim Chief Executive Officer and Company veteran Ron Arrington will serve as interim Chief Financial Officer. This transition reflects Legacy's commitment to aligning its leadership and operations with a renewed focus on its core manufacturing competencies.

Legacy Housing reports Q3 EPS 65c, consensus 60c

Reports Q3 revenue $44.3M, consensus $48.02M...Book value per share for the third quarter of 2024 was $19.84, an increase of 12.7% from the third quarter of 2023. Duncan Bates, President and Chief Executive Officer, stated: "Legacy hosted a record number of customers at our 2024 Fall Show in late September. We showcased updated interior and exterior finishes to match the preferences of younger homebuyers. The changes were very well received, and orders written at the show pushed our backlog into the first quarter of 2025. Our team continues to execute on strategic initiatives and believes the market for our products will continue to strengthen into 2025 as housing affordability hovers near all-time lows."