{{Short description|Mobile Home Manufacturer Based In Texas}} {{Infobox company | name = Legacy Housing Corporation | type = Public company | traded_as = {{NASDAQ|LEGH}}} | industry = Construction, Manufacturing | founded = {{start date and age |2005|05 }} | hq_location_city = Bedford, Texas | hq_location_country = United States | area_served = Southern United States<ref>{{cite web | url=https://apnews.com/press-release/globe-newswire/business-human-welfare-corporate-news-social-affairs-affordable-and-low-income-housing-6f24c1c400ae744a06d704cf462c82ec | title=Legacy Housing Corporation Reports Amended 2020 Second Quarter Results | publisher= Associated Press}}</ref> | key_people = {{Unbulleted list |Curtis D. Hodgson (Chairman of the Board) |Kenneth E. Shipley (President & CEO)}} | products = Mobile homes | num_employees = 800 | num_employees_year = 2020 | website = {{URL |https://legacyhousing.com/ }} }}
'''Legacy Housing Corporation''' is an American mobile home manufacturer based in Bedford, Texas. They have manufacturing facilities in Commerce, Texas, Fort Worth, Texas, and Eatonton, Georgia. Legacy also directly sells homes through 13 retail stores and funds loans for their homes.
The company has approximately 800 employees.<ref name="sec10k" /> As of 9 December 2020, Legacy Housing Corporation had a market capitalization of over $361 million.<ref>{{Cite web|last=|first=|date=|title=Legacy Housing Corporation Common Stock (TX) (LEGH)|url=https://www.nasdaq.com/market-activity/stocks/legh|archive-url=|archive-date=|access-date=|website=NASDAQ}}</ref>
== History == Legacy Housing was founded in 2005 by Curtis Drew Hodgson (Chairman of the Board) and Kenneth E. Shipley (President and CEO) as Legacy Housing, Ltd.<ref>{{Cite web|title=LEGH {{!}} Legacy Housing Corp. Company Profile & Executives - WSJ|url=https://www.wsj.com/market-data/quotes/LEGH/company-people|access-date=2020-12-09|website=www.wsj.com}}</ref> It is traded on NASDAQ as LEGH, after an IPO on December 14, 2018. The company repurchased over $3 million in stock in April 2019.
In 2019 the company's gross revenue was $169 million, versus $162 million in 2018. Approximately half of their sales are in Texas. Their consumer (chattel) loan portfolio was worth $105 million at an average APR of 14%. They also had $92.3 million in manufactured home park loans at variable rates, typically 4% over prime.<ref name="inve2019">{{Cite web |title=Legacy Housing Corporation Reports Fourth Quarter and Fiscal Year 2019 Results {{!}} Legacy Housing Corporation |author= |work=Legacy Housing Corporation |date= |access-date=28 April 2020 |url= https://investors.legacyhousingcorp.com/news-releases/news-release-details/legacy-housing-corporation-reports-fourth-quarter-and-fiscal}}</ref><ref name="sec10k" />
In 2018–2019, Legacy acquired five plots of land to develop into manufactured home communities, including 400 acres near Austin, Texas for $4.4 million in April 2018.<ref name="sec10k" />
During the COVID-19 pandemic, in April 2020, Legacy announced a $25 million addition to their credit line, then announced receiving $6.5 million in federally backed small business loans as part of the Paycheck Protection Program. The company received scrutiny over this loan, which was aimed at small businesses.<ref name="nyti_Larg">{{Cite web |title=Large, Troubled Companies Got Bailout Money in Small-Business Loan Program |author= |work=The New York Times |date= |access-date=28 April 2020 |url= https://www.nytimes.com/2020/04/26/business/coronavirus-small-business-loans-large-companies.html}}</ref><ref name="invect">{{Cite web |title=Legacy Housing Corporation Announces New Credit Facility {{!}} Legacy Housing Corporation |author= |work=Legacy Housing Corporation |date= |access-date=28 April 2020 |url= https://investors.legacyhousingcorp.com/news-releases/news-release-details/legacy-housing-corporation-announces-new-credit-facility |quote=Legacy Housing Corporation Announces New Credit Facility }}</ref><ref name="sec10k">{{Cite web |title=SEC Filing 10-K - Legacy Housing Corporation |author= |work=investors.legacyhousingcorp.com |date= |access-date=28 April 2020 |url= https://investors.legacyhousingcorp.com/node/7106/html}}</ref><ref name="inve_SECF">{{Cite web |title=SEC Filing 8K - Legacy Housing Corporation |author= |work=investors.legacyhousingcorp.com |date= |access-date=28 April 2020 |url= https://investors.legacyhousingcorp.com/node/7131/html}}</ref> Legacy Housing returned the loan a day after the New York Times story broke.<ref name="dall_Publ">{{Cite web |title=Publicly traded Bedford tiny house maker returns $6.5 million PPP loan |author= |work=Dallas News |date= |access-date=29 April 2020 |url= https://www.dallasnews.com/business/real-estate/2020/04/27/publicly-traded-bedford-tiny-house-maker-returns-65-million-ppp-loan/ |quote=CEO Kenny Shipley said the company made the “difficult decision to return the funds” based on new guidance from the U.S. Small Business Administration that requires companies to return the money if they had alternate sources of capital. }}</ref>
==References== {{reflist}}
==External links== * {{official|https://legacyhousingusa.com/}}
Category:Manufactured home manufacturers