LGI Homes(LGIH)

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LGI Homes(LGIH) - 2025 Q1 - Quarterly Results
2025-04-29 12:31
EXHIBIT 99.1 LGI Homes, Inc. Reports First Quarter 2025 Results "We continue to monitor tariffs and potential impacts that higher costs could have on margins. In March, we began receiving notices of price increases from some suppliers related to tariffs. With this in mind, we are proactively trimming our full year gross margin guidance by 150 basis points at the low end and 100 basis points at the high end to account for these additional costs and the potential for additional market volatility. As a result, ...
LGI Homes, Inc. Reports First Quarter 2025 Results
Globenewswire· 2025-04-29 11:00
Core Viewpoint - LGI Homes reported solid financial results for Q1 2025 despite challenges in affordability and rate volatility affecting homebuyers' confidence [2][3]. Financial Performance - The company delivered 996 homes with an average sales price of $352,831, resulting in total revenue of $351.4 million for the first quarter [3][9]. - A one-time expense of $8.6 million related to a forward commitment incentive program was included in the financial results [3]. - Net income for the quarter was $4.0 million, translating to earnings per share of $0.17 [9][20]. Guidance and Outlook - LGI Homes maintains its full-year 2025 guidance, expecting to close between 6,200 and 7,000 homes at an average sales price between $360,000 and $370,000 [4][14]. - The company has adjusted its gross margin guidance down by 150 basis points at the low end and 100 basis points at the high end due to anticipated higher costs from tariffs [5][10]. Market Conditions - The company noted strong demand for new homes but highlighted affordability as a significant challenge for buyers [2]. - The persistent shortage of entry-level homes is seen as a societal challenge, emphasizing the need for affordable residential construction [5]. Balance Sheet Highlights - As of March 31, 2025, total liquidity was $360.0 million, including cash and cash equivalents of $57.6 million [9]. - The company had total owned and controlled lots of 67,792, with an ending backlog of 1,040 homes valued at $406.2 million [9][29]. Segment Performance - Home sales revenues by reportable segment showed the following for Q1 2025: Central ($101.1 million), Southeast ($101.7 million), Northwest ($34.2 million), West ($67.0 million), and Florida ($47.4 million) [25]. - The average sales price per home closed was $352,831, with an average community count of 148 [25]. Backlog Data - Net orders for the quarter were 1,437, with a cancellation rate of 16.3% [29]. - The ending backlog consisted of 1,040 homes, down from 1,335 homes in the same period last year [29].
LGI Homes Announces New 55-Plus Section at Hollywood Springs in Las Vegas
Globenewswire· 2025-04-28 22:00
Company Overview - LGI Homes has launched The Oasis at Hollywood Springs, an exclusive active adult community for individuals aged 55 and older, located in the Hollywood Springs neighborhood of Las Vegas [1][3] - This marks LGI Homes' first active adult offering in Nevada, featuring 26 homesites with modern layouts and premium upgrades [3] Product Features - The Oasis at Hollywood Springs offers 2- and 3-bedroom homes designed for active adults, with features such as spacious open floor plans, gourmet kitchens with granite countertops, and energy-efficient appliances [3] - Homes are designed for single-level living, including extra-wide doorways, walk-in showers, and low-maintenance desert landscaping, with attached two-car garages [3] Market Position - Las Vegas is recognized as a top destination for retirees, offering a mild climate, affordable living costs, and a variety of amenities, making it an attractive location for active adults [2] - Kiplinger has ranked Las Vegas among the top 10 best cities for homebuyers aged 55 and older, highlighting its appeal for retirement living [2] Pricing Information - Homes at The Oasis at Hollywood Springs start in the low $400s [3]
LGI Homes Opens New Section at Popular Second Creek Farm Community in Commerce City, CO
Globenewswire· 2025-04-25 12:00
Core Insights - LGI Homes, Inc. has opened a new section at Second Creek Farm in Commerce City, Colorado, featuring 240 lots for homebuyers [1] - The community offers upgraded, affordable homes in a desirable location with significant outdoor recreational opportunities [2] - The new section introduces a variety of modern floor plans, including two- to five-bedroom homes equipped with high-end finishes and energy-efficient systems [3] Community Features - LGI Homes invested $1 million in park and amenities to enhance family living experiences [2] - The community is adjacent to 840 acres of open space and connects to 25 miles of walking trails [2] - Move-in ready homes are priced starting from $528,900 [4] Company Overview - LGI Homes is headquartered in The Woodlands, Texas, and operates in 36 markets across 21 states [5] - The company has closed over 75,000 homes since its founding in 2003 and has consistently delivered profitable financial results [5] - LGI Homes has been recognized for its quality construction and customer service, earning various workplace awards [5]
LGI Homes Celebrates Completion of $3 Million Park at Sweetwater Ridge in Conroe, TX
Newsfilter· 2025-04-24 21:00
Core Insights - LGI Homes, Inc. has opened a new 6-acre park at Sweetwater Ridge in Conroe, Texas, with an investment of nearly $3 million, aimed at enhancing community engagement among residents [1][2]. Company Overview - LGI Homes, Inc. is headquartered in The Woodlands, Texas, and operates in 36 markets across 21 states, having closed over 75,000 homes since its inception in 2003 [6]. - The company has consistently delivered profitable financial results and has been recognized for its quality construction and customer service, including being named to Newsweek's list of the World's Most Trustworthy Companies [6]. Community Features - The new park includes a children's playground, splash pad, two dog parks, an 18-hole disc golf course, a fishing lake, and a community pavilion, all designed to promote recreation and social interaction [2][3]. - Sweetwater Ridge offers a variety of three- and four-bedroom homes ranging from 1,076 to 2,174 square feet, featuring upscale amenities and starting prices in the $230s [4]. Location and Accessibility - Sweetwater Ridge is conveniently located along FM-1484 with easy access to I-45 and SH-105, close to top-rated schools, major employers, and shopping and dining options in Conroe and The Woodlands [3].
LGI Homes Opens Mount Tabor Pointe, a New Community Offering Affordable Homes in Dallas, Georgia
Globenewswire· 2025-04-21 12:00
With its unbeatable location, family-friendly amenities, and beautifully crafted homes, Mount Tabor Pointe is the perfect place to call home in Dallas, Georgia. For more information or to schedule a tour of the community, please contact the sales team at 855-712-9725 ext. 791. DALLAS, Ga., April 21, 2025 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) is now selling homes at Mount Tabor Pointe, a vibrant new community located in the heart of Dallas, Georgia. Since launching, the community has seen remark ...
LGI Homes' Largest Self-Developed Community in the State of Colorado, Bennett Ranch, Opens for Sales
Newsfilter· 2025-04-18 00:00
Core Insights - LGI Homes, Inc. has launched Bennett Ranch, its largest self-developed community in Colorado, located east of Denver [1][2] - The community will consist of 601 homes, including 431 single-family homes and 170 townhomes, with construction of the first phase already underway [2] - The community is strategically located near schools and offers $2.75 million in amenities, promoting an active lifestyle [3][4] Company Overview - LGI Homes is headquartered in The Woodlands, Texas, and operates in 36 markets across 21 states, having closed over 75,000 homes since its inception in 2003 [6] - The company is recognized for its quality construction and customer service, earning accolades such as being named one of the World's Most Trustworthy Companies by Newsweek [6] - LGI Homes has a unique operating model aimed at making homeownership accessible, supported by a workforce of over 1,000 employees [6]
LGI Homes’ Largest Self-Developed Community in the State of Colorado, Bennett Ranch, Opens for Sales
Globenewswire· 2025-04-18 00:00
Core Insights - LGI Homes, Inc. has launched Bennett Ranch, its largest self-developed community in Colorado, located east of Denver [1][2] - The community will consist of 601 homes, including 431 single-family homes and 170 townhomes, with construction of the first phase already underway [2] - The community is strategically located for families, offering access to schools and amenities, and is designed to promote an active lifestyle [3] Company Overview - LGI Homes is headquartered in The Woodlands, Texas, and operates in 36 markets across 21 states, having closed over 75,000 homes since its founding in 2003 [6] - The company has been recognized for its quality construction and customer service, earning a spot on Newsweek's list of the World's Most Trustworthy Companies [6] - LGI Homes has a unique operating model focused on making homeownership accessible, which has contributed to its rapid growth and profitability [6] Community Features - Bennett Ranch will feature $2.75 million in community amenities, including a 5-acre park with various recreational facilities, expected to be completed by late 2025 [3] - Homes in Bennett Ranch will offer modern designs with energy-efficient features, starting in the $490s, and include the CompleteHome™ package with desirable upgrades [4]
LGI Homes Opens New Community in Mint Hill, NC
Globenewswire· 2025-04-09 12:00
MINT HILL, N.C., April 09, 2025 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) is excited to announce the grand opening of Ascot Woods, a stunning community located just east of Charlotte in Mint Hill, North Carolina. This expansion provides homebuyers with the perfect opportunity to purchase a beautifully designed, upgraded home in an ideal suburban setting, offering the perfect balance of tranquility and convenience for families. Residents can take advantage of the quiet, tree-lined streets and spacio ...
LGI Homes Opens New Community in Orlando Area
Newsfilter· 2025-04-07 12:00
ASTATULA, Fla., April 07, 2025 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ:LGIH) is excited to announce the grand opening of Tula Parc, a new community located in Astatula, Florida. Offering a selection of affordable new homes with built-in upgrades, Tula Parc provides homebuyers with an accessible and simplified path to homeownership. Tula Parc features brand-new, three-, four- and five-bedroom homes designed with spacious, open-concept layouts. Each home comes with LGI Homes' CompleteHome™ package, which ...