secwatch.observer — SEC 8-K summary
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Issuer:     LGI Homes, Inc. (LGIH)
CIK:        0001580670
Form:       8-K
Filed at:   2022-05-03T23:59:59+00:00
Accession:  0001580670-22-000055
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LGI Homes Q1 net income falls 21% to $78.7M; updates guidance with higher ASP and margins
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- Net income $78.7M ($3.25 diluted EPS) vs $99.6M pre-tax income in Q1 2021.
- Home sales revenue $546.1M, down 22.7%; closings 1,599, down 37.6%.
- Average sales price record $341,495 (+23.9%); gross margin 29.0% (+210 bps).
- Repurchased 475k shares for $57.7M in Q1 2022.
- Updated 2022 guidance: ASP $335k-$350k; gross margin 27%-29%; adj. gross margin 28.5%-30.5%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1580670/000158067022000055/0001580670-22-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1580670/000158067022000055/lgih-20220503.htm
  HTML page:      https://secwatch.observer/filing/0001580670-22-000055

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer