secwatch.observer — SEC 8-K summary
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Issuer:     Landsea Homes Corp (—)
CIK:        0001721386
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001721386-24-000009
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1721386/000172138624000009/0001721386-24-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1721386/000172138624000009/lhi-20240501.htm
  HTML page:      https://secwatch.observer/filing/0001721386-24-000009

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