LGI Homes reports record full year 2021 earnings; Q4 net income down 18.4%

LGI Homes, Inc.

2021-FY EPS reported $17.25 revenue$3,050,149,000

FY21 net income $429.6M ($17.25 diluted EPS), up 32.6% YoY; home sales revenue $3.1B, +28.8%.
Q4 net income $111.3M ($4.53 diluted EPS), down 18.4% YoY; home sales revenue $801.1M, -10.7%.
Q4 home closings 2,526 (-25.9% YoY); full year closings 10,442 (+11.8%), a company record.
Adjusted gross margin 27.6% in Q4 vs 28.8% a year ago; FY21 adjusted margin 28.2% vs 27.4%.
Board increased share repurchase authorization by $200M; remaining capacity $306.6M as of Feb 11, 2022.

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