Landsea Homes Shares Rise 15% on Higher 3Q Results

Dow Jones11-05

By Denny Jacob

Landsea Homes shares rose 15% after third-quarter results showed higher results among key metrics including new homes delivered.

Shares were trading around $11.96. The stock is down 9.8% on the year.

The building construction services provider reported revenue of $338.5 million, a 22% increase from the prior year.

Other metrics that increased include new homes delivered, which rose 40% to 629 from a year earlier. The average selling price on new homes delivered decreased to $518,000 from $576,000 during the period.

"We saw solid demand in our markets during the quarter, as our high performance homes and attractive financing incentives to aid with affordability continued to appeal to homebuyers," said Chief Executive John Ho.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

November 04, 2024 13:44 ET (18:44 GMT)

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