THE WOODLANDS, Texas, May 03, 2024 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ:LGIH) today announced it closed 505 homes in April 2024. As of April 30, 2024, the Company had 127 active selling communities. About LGI Homes, Inc. Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. As one of America's fastest growing companies, L ...

MARYSVILLE, Wash., May 03, 2024 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ:LGIH) today announced the grand opening of The Village at Whiskey Ridge, a new community located in Marysville, Washington. The new community is situated 5 miles east of I-5 and less than a mile from WA-9, providing commuters access to major employment centers and attractions in Marysville, Everett and Bellevue. The Village at Whiskey Ridge features family-friendly amenities and an incredible lineup of move-in-ready townhomes at som ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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. 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 March 31, 2024 Indicate by check mark whether the registrant has submitted electronically every Interactive Data File r ...

LGI Homes, Inc. (NASDAQ:LGIH) Q1 2024 Earnings Conference Call April 30, 2024 12:30 PM ET Company Participants Joshua Fattor - VP, IR & Capital Markets Eric Lipar - Chairman & CEO Charles Merdian - CFO & Treasurer Conference Call Participants Andrew Azzi - JPMorgan Carl Reichardt - BTIG Alex Barron - Housing Research Center Jay McCanless - Wedbush Operator Hello, and welcome to LGI Homes' First Quarter 2024 Conference Call. Today's call is being recorded and a replay will be available on the company's websi ...

LGI Homes (LGIH) reported $390.85 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 19.8%. EPS of $0.72 for the same period compares to $1.14 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $420.15 million, representing a surprise of -6.97%. The company delivered an EPS surprise of -29.41%, with the consensus EPS estimate being $1.02.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall St ...

EXHIBIT 99.1 LGI Homes Reports First Quarter 2024 Results THE WOODLANDS, Texas, April 30, 2024 (GLOBE NEWSWIRE) - LGI Homes, Inc. (NASDAQ: LGIH) today announced financial results for the three months ended March 31, 2024. First Quarter 2024 Highlights 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 Management Comments "Although closings were down during the first quarter, th ...

jhorrocks Introduction LGI Homes (NASDAQ:LGIH) has seen a relatively good amount of share price volatility over the past 12 months going from low-$100/share to over $130/share down to mid-$80/share, back up to over $130/share, and now down to mid-$90/share. I can't say I'm totally surprised - my casual observations have been that homebuilders are more volatile than general, trading largely with "macro" factors like interest rates. In the end, however, what ultimately matters are cash flows, and to this end, ...

Financial Data and Key Metrics Changes - The company generated revenue of $2.4 billion, an increase of over 2% compared to last year, marking one of the few public homebuilders with year-over-year growth in both closings and revenue in 2023 [11] - Gross margin as a percentage of sales in the fourth quarter was 23.4%, up from 20.7% in the same period last year, reflecting a 270 basis point improvement [14] - Fourth quarter net income was $52.1 million, or $2.21 per basic share and $2.19 per diluted share [15] Business Line Data and Key Metrics Changes - The company closed 1,758 homes in the fourth quarter, a 21.4% increase year-over-year, with an average selling price (ASP) of $346,083, which was a 2.6% increase [95] - The wholesale business represented 17% of total closings in the fourth quarter, down from 29.8% in the same period last year [69] Market Data and Key Metrics Changes - The company expanded its geographic footprint, adding Salt Lake City, Utah, marking a total of 36 markets across 21 states [12] - The top five markets for the company included Dallas-Fort Worth, Charlotte, Northern California, Fort Pierce, and Las Vegas, with closings per community per month ranging from 7.3 to 9.1 [67] Company Strategy and Development Direction - The company plans to increase community count by 25% to 30% in 2024, aiming to end the year with approximately 150 active selling communities [76] - The focus remains on driving affordability while increasing profitability, with expectations for higher selling prices and gross margins in 2024 [76][103] Management's Comments on Operating Environment and Future Outlook - Management noted a significant increase in leads and traffic since February, with leads up over 73% compared to the prior two months [21] - The company anticipates a challenging affordability environment similar to 2023, with strategies in place to maintain sales pace while protecting gross margins [80][119] Other Important Information - The company ended the year with total debt of $1.25 billion and a debt-to-capital ratio of 40.2% [19] - The effective tax rate for the previous year was 23.9%, consistent with prior guidance [16] Q&A Session All Questions and Answers Question: What is the expected absorption rate for the year? - The company expects an absorption rate of 4.5 to 5.3, which is lower than previous years due to anticipated market conditions [25][106] Question: How does the company plan to maintain margins amidst rising land costs? - The company plans to be cautious with discounting and focus on maintaining gross margins while incentivizing customers through mortgage rate buy-downs [80] Question: What is the outlook for community count growth in 2025? - The company expects to maintain community count growth in 2025, with 150 communities anticipated to have closings by the end of 2024 [108]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 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) Delaware 46-3088013 (State or other jurisdiction of in ...

LGI Homes, Inc. (NASDAQ:LGIH) Q3 2023 Earnings Conference Call October 31, 2023 12:30 PM ET Company Participants Joshua Fattor - Vice President of Investor Relations & Capital Markets Eric Lipar - Chairman of the Board & Chief Executive Officer Charles Merdian - Chief Financial Officer & Treasurer Conference Call Participants Andrew Azzi - JPMorgan Truman Patterson - Wolfe Ken Zener - Seaport Research Carl Reichardt - BTIG Jay McCanless - Wedbush Operator Welcome to LGI Homes Third Quarter 2023 Conference C ...