v3.24.2.u1
Consolidated Statements of Operations - (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue $ 431,143 $ 293,244 $ 725,184 $ 534,984
Cost of sales 366,967 242,583 617,547 440,350
Gross margin 64,176 50,661 107,637 94,634
Sales and marketing expenses 24,663 18,334 43,151 34,742
General and administrative expenses 29,555 25,980 55,637 48,760
Total operating expenses 54,218 44,314 98,788 83,502
Income from operations 9,958 6,347 8,849 11,132
Other (expense) income, net (5,353) 1,159 (3,540) 2,114
Pretax income 4,605 7,506 5,309 13,246
Provision for income taxes 1,370 1,640 1,340 3,257
Net income 3,235 5,866 3,969 9,989
Net income attributable to noncontrolling interests 350 919 894 1,824
Net income attributable to Landsea Homes Corporation $ 2,885 $ 4,947 $ 3,075 $ 8,165
Income per share:        
Basic (in dollars per share) $ 0.08 $ 0.12 $ 0.08 $ 0.20
Diluted (in dollars per share) $ 0.08 $ 0.12 $ 0.08 $ 0.20
Weighted average common shares outstanding:        
Basic (in shares) 36,199,850 39,891,982 36,239,765 39,944,549
Diluted (in shares) 36,369,827 39,971,731 36,558,862 40,059,731
Home sales        
Revenue $ 418,182 $ 291,512 $ 710,774 $ 532,137
Cost of sales 355,736 240,835 604,633 437,889
Gross margin 62,446 50,677 106,141 94,248
Lot sales and other        
Revenue 12,961 1,732 14,410 2,847
Cost of sales 11,231 1,748 12,914 2,461
Gross margin $ 1,730 $ (16) $ 1,496 $ 386

Source