secwatch.observer — SEC 8-K summary
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Issuer:     LGI Homes, Inc. (LGIH)
CIK:        0001580670
Form:       8-K
Filed at:   2021-08-03T23:59:59+00:00
Accession:  0001580670-21-000081
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LGI Homes Q2 net income jumps 112% to $118M; raises FY 2021 guidance on closings, margins
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- Q2 net income of $118.1M ($4.71 diluted EPS) vs $55.6M ($2.21) a year ago; revenue up 64% to $791.5M.
- Home closings rose 42% to 2,856; average selling price up 15% to $277,140; gross margin expanded 250 bps to 27.0%.
- Backlog grew 126% to 4,801 homes valued at $1.4B; repurchased $55.8M of stock in Q2.
- Completed $300M 4.000% Senior Notes due 2029; redeemed $300M 6.875% notes in July with $10.3M premium.
- Raised FY2021 guidance: closings 10,000-10,500, avg price $285-295k, GM 26-28%, adj. GM 27.5-29.5%, SG&A 9-9.5%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1580670/000158067021000081/0001580670-21-000081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1580670/000158067021000081/lgih-20210803.htm
  HTML page:      https://secwatch.observer/filing/0001580670-21-000081

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