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@lyonroars
This morning we released the Company's results for the first Quarter of 2015. The year is off to a great start!
Some highlights include:
Increase in home sales revenue to $189.7 Million which is up 35% over the first quarter of last year.
New home deliveries of 388 which is up 41% over last year.
Over $335 Million of backlog which is up 27%.
Increase in average sales locations to 54 which is up 69%. We are currently selling out of 68 communities.
John Francis named Builder Community Superintendent of the Year
Please congratulate our very own John Francis who was named Superintendent of the Year by the Bay Area BIA in California. Anyone who has met John in his 23 years with the Company you how genuinely passionate he is about his job and the homes he builds. He is the one that chokes me up every time I see the marketing video we are rolling out. You can feel how much he cares just in those few seconds he is on Camera.
Please join me in congratulating John on this much deserved recognition. We are all so proud to have him on the Team!
2015 Eliant Home Buyer's Choice Awards
Once again William Lyon Homes made an impressive showing at the Eliant Homebuyer's Choice Awards. These awards are based on surveys from 2014 closings and award builders based on satisfaction scores in 7 categories. William Lyon Homes was nominated for 18 different awards, the second highest of the builders represented. Overall, only 41 of the 128 builders in the Eliant system won awards.
Special congratulations should go to the teams in Colorado, Northern California and Southern California. The Village Homes team in Colorado received their first ever Eliant award after only being on the system a little over a year. Village was recognized with an Honorable Mention in the medium sized builder category for Construction Experience. The Southern California division of William Lyon Homes also received an honorable mention for Construction Experience in the high volume builder category. Finally Northern California received an Honorable Mention for First Year Customer Service Experience in the high volume category. Northern California also received a 3rd place in the high volume category for Sales from Referrals.
We have won many division awards in a variety of categories in the past, however, this year we received an Honorable Mention as a company for the Eliant Award in the multi divisional builder class which is the overall company award Eliant presents based on the overall purchase and ownership experience.
While we continue to improve our satisfaction scores despite our rapid growth, the competition is improving as well. I know we can and will continue to get better and I know we can get their faster than the other guys. At the end of the quarter we ranked 11th overall as a company in the Eliant system. I know we can make the top ten and beyond!
Thank you to all the teams who work so hard every day to treat our customers right and another big congratulations to the divisional teams who scored so highly relative to our peers. Keep up the great work everybody!
Terrace Ridge Models Underway in Dublin California
A few weeks ago I had the chance to visit the beautiful Terrace Ridge models in Northern California. I am guessing they have progressed well beyond this stage now. Look at the amazing views from the lots at the top of the hill. What an exciting project!
Last week the Company released our full year results for 2014 as well as the fourth quarter. Thanks to all of your hard work, these results were amazing.
Compared to the fourth quarter of 2013, home sales revenues were up 93% to $325M. New home deliveries were up 83% to 717 closings. New home orders were up 60% to 467 sales. Finally, average community count or sales locations were up 77% to 55. Some of this was clearly the result of our acquisition of Polygon Northwest Homes in Seattle and Portland, but both California and Colorado sported impressive year over year growth at 53% and 70% respectively. The fourth quarter represented the highest quarterly sales revenue and deliveries we have seen since the fourth quarter of 2007.
The results for the full year were no less impressive. Home sales revenues for 2014 were up 64% over 2013 to $857M. Deliveries were up 29% for the year to 1,753 homes closed. New home orders were up 27% to 1,677, and average sales locations were up 76% to 44 communities. We ended the year with 56 open communities.
I know some of our markets were more challenging than others last year, but we continue to make progress against our long term goals and have a well established presence in what we feel are the best markets in the West.
Thank you all for what you do to make us The Premier Western Regional Homebuilder. I am so proud of what we achieved in 2014 and looking forward to an exciting and productive 2015!
Have a Happy Holiday!
I know everyone is working particularly hard these last few days of the year. Please take a moment though to enjoy the holiday with your loved ones and reflect on the hundreds and hundreds of families who will be celebrating their first Christmas or other special holiday in a new home that we built! We have much to be proud of in terms of numbers and dollars and cents, but the families who live in the homes we produce are the most important measure of all.
I sincerely hope you have a wonderful holiday. Thank you for all that you do to make this Company great.
Sincerely,
Bill H. Lyon
William Lyon Homes , a leading homebuilder in the Western U.S., announced results for its 2014 third quarter ended September 30, 2014. On August 12, 2014, the Company completed its acquisition of the residential homebuilding business of Polygon Northwest Homes , the largest private homebuilder in the Pacific Northwest Region.
May 26 - Home Builder Executive Profile
Sorry for the delay in posting this, but I was hoping to find a link to it online. Since it appears to be only available in print I had to post a scan. Some great coverage for the Company back in May.
We are now They
Apologies for not being more prolific with my writing this year. As you all know, it has been an incredibly busy year with several large transactions that have transformed the Company and truly made us the Premier Western Regional Homebuilder in terms of our footprint, land supply and market diversification. That said, a post is long overdue. Today, I attended a gathering of all of the employees in our newly acquired Polygon division in Washington. This morning, another one of my father's one liners popped into my head this morning and I felt it necessary to share it with you. As many of you know, my father has a very sharp wit and sense of humor. Much sharper than many would expect from a former Air Force General much less a nonagenarian (someone in their 90's, as I recently learned). Many of his one liners were funny to me growing up, but the wisdom behind them has only more recently become clear to me. See the post titled: "We don't need to gamble, we are in real estate" as another example. Almost 15 years ago we combined the Presley Company with William Lyon Homes which was a significant undertaking for all involved back then. The combined company had operations in Nevada and Arizona which were formerly Presley's and operations throughout California which were consolidations of the Lyon and Presley teams. The change was easier in some places than others. Nevada and Arizona basically operated as they had before, but began transitioning to Lyon branding. California was more difficult as territories were redefined for some operating divisions and some teams were combined. This made life particularly stressful on the operating teams in California and the Corporate team. We got through it though and had many successful years of operations in diverse markets throughout the West as a result. Somewhere early on in the process, I remember my father saying to me, "We are now They." It was a comment on how we needed to approach the business going forward, delivered with a little bit of dry humor as my father is expert at doing. However, the meaning behind it was deep, and I think with the recent additions of both Village Homes and Polygon Northwest Homes to the William Lyon Homes family brought it back to the top of my mind. We are nearing our 2 year anniversary of the Village transaction and Polygon is just a day over 2 months old! It's human nature to try to categorize ourselves as belonging to groups with shared attributes. You notice it particularly if you have young children. Boys vs. girls is a big one early on. I'm sure this stems from some desire for tribal like belonging in our DNA which long ago equated belonging to a group with survival. There are many positive aspects of belonging to a team or a group as anyone with a strong alumni connection to their school can attest. The danger of course is when that "us vs. them" mentality pops up within a larger group or team, bringing with it all the disfunction of a middle school clique. My father's comment encompassed all of this with a very simple four word phrase reminding me not to think of "we" as apart from "they," but just one "WE" including all of us. The change with Presley and Lyon was not easy, but we got through it, we are still implementing parts of the integration of Village Homes into Lyon as we speak, and the integration of Polygon with Lyon is just beginning. However, we will get through all of them and be a stronger, more diversified and talent-rich company as a result. We may brand differently in some of our markets, but at the corporate level we view all of the divisions as integral parts of the whole. These last two years we have grown at an incredible rate in terms of the size of our team. Our results have grown even more impressively. Growth presents its own challenges and we continue to tackle them every day. I know that as a team, this Company can achieve tremendous results because of the quality of the people that make us who and what we are. I love the friendly competition our divisions often enjoy, which pushes each of them to perform at their best. What I am most proud of though is when our divisions lean on each other for support or guidance when solving problems. We have tremendous resources of experience and wisdom right here in our own Company, and seeing how a discovery or insight in one area can better the whole organization is very fulfilling for me. Despite our competitiveness and desire to outdo each other on Eliant scores or any of the other metrics we measure ourselves by, ultimately we are One Company and One Team. I hope each of you at the core feels a part of the WE of William Lyon Homes whether you have been here 2 days, 2 months or 20 years. WE can save the "they" for those Other homebuilders!
This morning we reported some exciting results for our recently ended quarter. The highlight of the release was our acquisition of Polygon Homes in the Pacific Northwest.
William Lyon Homes Acquisition of Polygon Northwest Complete!
Yesterday, on August 12, the acquisition of the homebuilding operations of Polygon Northwest Homes in Seattle, Washington and Portland, Oregon was completed. I want to welcome the entire Polygon team to the William Lyon Homes family.
To learn more about Polygon and our new divisions in Seattle and Portland, visit the Polygon website.
www.polygonhomes.com
Hello Again,
The Company recently reported our First Quarter 2014 results and they were phenomenal! Follow the link to read all about it...
Not my favorite photo, but Matt and I are clearly having fun!
William Lyon Homes’ Lyon Estates received the 2014 Silver Nugget Award’s Community of the Year. The presentation was made at the Southern Nevada Home Builder’s Silver Nugget Awards gala March 29 at the Renaissance Hotel.
Dick Bryan, Nevada Warranty Service Director, receives Lifetime Achievement Award at the 2014 Eliant Homebuyers' Choice Awards on April 16th.
As I recently reported on The Lyon Roars, William Lyon Homes was honored this year with 13 Eliant Homebuyers' Choice Awards, more than any other homebuilder for the second year in a row. However, a very special surprise at the award event was the presentation of a Lifetime Achievement Award to our very own Dick Bryan. Dick has been our Warranty Service Director in Nevada for just over a year, but before joining Lyon, Dick forged an impeccable reputation for leadership as the Sr. Vice President of Customer Care for John Laing Homes.
Congratulations to Dick on this well deserved recognition! He also received a standing ovation from the builder executives in attendance. We are extraordinarily proud to have Dick as part of the Lyon Homes Team.
Pictured above are: Terry Connelly, Sr. VP of Operations; Laurie Jiu, Options Manager; Dick Bryan, Warranty Service Director; Mary Connelly, Nevada Division President; Brad Nelson, VP of Construction
Company Wide Strategic Plan Meetings Now Complete
On behalf of my father, Colin Severn, Matt Zaist and myself, I wanted to express to you how grateful we are for the time and attention you devoted to our recent visits. It was wonderful seeing everyone and meeting so many new additions to the team. I really valued the opportunity to not only discuss with you the fabulous 2013 results, but to share the Company's strategic vision for the future.
Congratulations again to all of the award recipients who set the bar for creating a superior experience for our customers. Also a big thank you to all of you for all that you do day in and day out to make this Company great.
Hope to see you soon! Keep up all the great work.
William Lyon Homes was again recognized as one of the nation’s premier homebuilders, winning 13 Eliant Homebuyers’ Choice Awards based on 2013 homebuyer survey results, the most of any homebuilder for the second year in a row.
Click on the link to read more...