---
schema_version: "secwatch.filing_event.v1"
accession: "0001721386-24-000009"
form_type: "8-K"
ticker: null
cik: "0001721386"
company_name: "Landsea Homes Corp"
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:04:48.685281+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Landsea Homes Q1: Revenue +22% to $294M, EPS $0.01; FY deliveries 2,500-2,900

## Summary
- Net income $0.2M ($0.01 EPS); adjusted net income $2.0M ($0.06 adjusted EPS) vs $3.2M prior.
- Total revenue $294.0M (+22% YoY) on 505 home closings at avg $579K (up 14% YoY).
- Net new orders 612 (+23% YoY); monthly absorption 3.3/community; cancellations 10% (vs 16%).
- Adjusted EBITDA $17.0M vs $16.2M YoY; adjusted gross margin 19.4% down from 21.9%.
- April placement of $300M 8.875% senior notes due 2029; proceeds used to reduce revolver.

## SEC filing metadata
- accession: 0001721386-24-000009
- form_type: 8-K
- cik: 0001721386
- company_name: Landsea Homes Corp
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1721386/000172138624000009/0001721386-24-000009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1721386/000172138624000009/lhi-20240501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001721386-24-000009
- JSON: https://secwatch.observer/filing/0001721386-24-000009.json
- Plain text: https://secwatch.observer/filing/0001721386-24-000009.txt

## Key facts
- Earnings Releases
  Landsea Homes Corp reported the first quarter ended March 31, 2024 results: revenue $294.0 million, net income net income of $0.2 million, EPS $0.01 per share. Guidance initiated.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $294.0 million
  - Net income: net income of $0.2 million
  - EPS: $0.01 per share
  - Guidance: initiated
  - Result: reported results
  source text: Landsea Homes Reports First Quarter 2024 Results First Quarter 2024 Highlights • First quarter net new home orders of 612, a 23% year-over-year increase • Total revenue of $294.0 million, driven by 505 home closings at an average price of $579,000 • Adjusted EBITDA of $17.0 million • Book value per share of $17.92 • Repurchased approximately 534,000 shares of common stock for $6.4 million Dallas, Texas – May 1, 2024 – Landsea Homes Corporation (Nasdaq: LSEA) (“Landsea Homes” or the “Company”), a publicly traded homebuilder, reported financial results for the first quarter ended March 31, 2024. For the quarter, the Company reported pretax income of $0.7 million, and net income of $0.2 million, or $0.01 per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1721386/000172138624000009/0001721386-24-000009-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.