Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $652 million, a 5.6% increase year-over-year, marking the highest revenue since Q2 2022 [8][15] - Adjusted gross margin was 27.2%, up 20 basis points from the prior quarter and consistent with the same period last year [10][17] - Diluted earnings per share increased to $2.95, representing a 4% year-over-year increase and a 19% sequential increase [11][20] Business Line Data and Key Metrics Changes - The company closed 1,757 homes in Q3 2024, slightly higher year-over-year and 6.2% higher sequentially [15] - Wholesale business accounted for 9.1% of total closings, generating $49.5 million in revenue, a 14.2% increase compared to last year [15][16] - Average sales price reached a record $371,004, up 5.2% year-over-year and 1.9% sequentially [16] Market Data and Key Metrics Changes - The average closings per community per month was 4.4, with Las Vegas leading at 9.9 closings [12] - The cancellation rate was 26.2%, slightly down compared to last year [20] Company Strategy and Development Direction - The company focuses on maximizing long-term profitability rather than immediate output, ensuring strong margins and shareholder value [10] - Community count increased by 30% year-over-year, ending Q3 with 138 communities, with plans for further growth in 2025 [8][29] - The company aims to maintain a disciplined approach to pricing and incentives, avoiding wholesale price reductions [10][32] Management's Comments on Operating Environment and Future Outlook - Management noted a moderation in sales activity in October, attributed to higher rates affecting affordability and the time needed to train new hires [26] - The long-term outlook for the housing market remains positive, supported by household formations and limited supply of resale homes [27] - Full-year guidance was updated to expect closings between 6,100 and 6,400 homes at an average selling price between $360,000 and $370,000 [27][28] Other Important Information - The company ended Q3 with $1.5 billion in debt and a debt-to-capital ratio of 43.6% [22] - The company was recognized by Newsweek as one of the world's most trustworthy companies for the second consecutive year [13] Q&A Session Summary Question: Gross margin performance and guidance update - Management indicated that the strong gross margin performance was due to effective pricing strategies and avoiding wholesale price reductions [31][32] Question: Impact of the election on demand - Management believes that demand remains strong and is not significantly affected by the election, but affordability challenges persist [33][35] Question: Maintaining gross margins compared to peers - The company maintains higher gross margins due to its self-development approach and capturing both development and homebuilding profits [38][39] Question: Land costs and development expenses - Management noted that land prices remain strong, with development costs continuing to rise, impacting overall affordability [42] Question: Absorption rates and compensation structure - The company plans to maintain commission structures while focusing on revenue generation despite lower absorption rates [46] Question: Affordability challenges for potential customers - Management highlighted that many households with incomes between $60,000 and $100,000 are currently priced out of the market due to high rates and average sales prices [49][50] Question: Future community count growth and product offerings - The company plans to introduce more attached home products and expects community count growth of 10% to 20% in 2025 [60][29]

For the quarter ended September 2024, LGI Homes (LGIH) reported revenue of $651.85 million, up 5.6% over the same period last year. EPS came in at $2.95, compared to $2.84 in the year-ago quarter.The reported revenue represents a surprise of +1.57% over the Zacks Consensus Estimate of $641.77 million. With the consensus EPS estimate being $2.53, the EPS surprise was +16.60%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

LGI Homes (LGIH) came out with quarterly earnings of $2.95 per share, beating the Zacks Consensus Estimate of $2.53 per share. This compares to earnings of $2.84 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.60%. A quarter ago, it was expected that this entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets would post earnings of $2.24 per share when it actually produced earnings of $2.48, delivering a ...

EXHIBIT 99.1 LGI Homes Reports Third Quarter 2024 Results and Updates Full Year 2024 Guidance THE WOODLANDS, Texas, November 5, 2024 (GLOBE NEWSWIRE) - LGI Homes, Inc. (NASDAQ: LGIH) today announced financial results for the third quarter 2024 and the nine months ended September 30, 2024. Third Quarter 2024 Highlights • Home sales revenues increased 5.6% to $651.9 million • Home closings increased 0.3% to 1,757 homes • Average sales price per home closed increased 5.2% to $371,004 • Gross margin as a percen ...

Financial Data and Key Metrics Changes - The company reported revenue of $602.5 million for the second quarter, based on 1,655 homes closed at an average sales price of $364,047, representing a 4.6% increase compared to the previous year [51][56] - Gross margin improved significantly to 25%, up 300 basis points year-over-year, while adjusted gross margin reached 27%, up 320 basis points year-over-year [30][34] - Pretax net income was approximately $76.9 million, representing a pretax profit margin of 12.8%, an increase from 11.1% last year [36][52] Business Line Data and Key Metrics Changes - The company closed approximately 550 homes in July and updated its guidance to expect between 6,400 and 7,200 homes closed for the year [1] - The average closings per community per month were 4.3, with top markets including Charlotte (8.6), Las Vegas (7.8), and Mid-Atlantic (6.9) [53] - The backlog at the end of the quarter was 1,393 homes valued at $553.6 million, with 13% related to wholesale contracts [37] Market Data and Key Metrics Changes - The company noted a low supply environment across the United States, which is impacting affordability for entry-level customers [20][33] - The effective tax rate was 23.8%, down from 25.6% last year, with expectations for the full-year tax rate to be between 24% and 25% [59] Company Strategy and Development Direction - The company plans to continue raising prices while managing the level of incentives to achieve margin targets, with gross margin guidance raised to between 23.5% and 24.5% [63] - The company is focused on increasing community count, aiming for 150 communities by year-end, with 128 communities operational as of last month [31][70] - The company is actively monitoring land acquisition opportunities, although it has not seen as many as expected in the current market [5][92] Management's Comments on Operating Environment and Future Outlook - Management highlighted that affordability remains the primary challenge for customers, compounded by rising land and input costs, higher interest rates, and increased insurance and property taxes [33][105] - The company expressed confidence in its ability to manage costs and maintain margins despite the high-cost environment [105] - Management noted that the housing market remains healthy, supported by strong fundamentals such as household formations and low unemployment [54] Other Important Information - The company repurchased 83,763 shares for $8 million during the quarter, with $193.5 million remaining on its current authorization [61] - The company ended the quarter with $1.5 billion of debt outstanding, resulting in a debt-to-capital ratio of 43.8% [39] Q&A Session Summary Question: Can you discuss the drivers of gross margin improvement? - Management indicated that the leading driver of gross margin improvement is the value captured from self-development and pricing communities to market [65] Question: What is the expected community count for 2025? - Management stated that it is too early for 2025 community count guidance but is focused on achieving 150 communities by the end of 2024 [70] Question: How are incentives impacting margins? - Management explained that incentives are case-by-case and vary by community, with mortgage incentives being a significant factor in maintaining affordability for buyers [97] Question: What is the historical spread associated with self-development? - Management confirmed that the typical spread associated with self-development is between 300 to 500 basis points compared to buying finished lots [98] Question: What is the outlook for SG&A expenses? - Management indicated that SG&A expenses have been elevated due to increased advertising spend but expect to normalize around 12% to 13% historically [100]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to . Commission file number 001-36126 LGI HOMES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or o ...

LGI Homes (LGIH) came out with quarterly earnings of $2.48 per share, beating the Zacks Consensus Estimate of $2.24 per share. This compares to earnings of $2.25 per share a year ago. These figures are adjusted for nonrecurring items. LGI Homes, which belongs to the Zacks Real Estate - Development industry, posted revenues of $602.5 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 5.09%. This compares to year-ago revenues of $645.27 million. The company has topped consensus r ...

• Gross margin as a percentage of home sales revenues between 23.5% and 24.5% Forward-Looking Statements LGI HOMES, INC. CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share data) June 30, December 31, COMMITMENTS AND CONTINGENCIES EQUITY Common stock, par value $0.01, 250,000,000 shares authorized, 27,612,742 shares issued and 23,500,280 shares outstanding as of June 30, 2024 and 27,521,120 shares LGI HOMES, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except share a ...

*Non-GAAP Please see "Non-GAAP Measures" for a reconciliation of Adjusted Gross Margin (a non-GAAP measure) to Gross Margin, the most directly comparable GAAP measure. Balance Sheet Highlights Total liquidity of $405.9 million at June 30, 2024, including cash and cash equivalents of $51.1 million and $354.8 million of availability under the Company's revolving credit facility Net debt to capitalization of 43.0% at June 30, 2024 83,763 shares of common stock repurchased during the second quarter of 2024 for ...

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 30. On the other hand, if they miss, the stock may move lower. Zacks Consensus Estimate Revenues are expected to be $634.8 million, down 1.6% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 2.68% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reasses ...