secwatch.observer — SEC 8-K summary
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Issuer:     LGI Homes, Inc. (LGIH)
CIK:        0001580670
Form:       8-K
Filed at:   2022-08-02T23:59:59+00:00
Accession:  0001580670-22-000071
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 reports Q2 record net income $123.4M; home closings down 29% YoY, updates FY2022 guidance
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- Net income increased 4.4% to $123.4M ($5.20 diluted EPS); home sales revenue fell 8.6% to $723.1M.
- Home closings dropped 29% to 2,027; average sales price rose 28.7% to $356,719.
- Gross margin expanded 500 bps to 32.0%; adjusted gross margin 33.1% (up 460 bps).
- FY2022 guidance: 7,500-8,300 closings, ASP $345K-$360K; maintains gross margin 27%-29%.
- Repurchased 417,861 shares for $37.4M in Q2; net debt to capitalization at 42.4%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1580670/000158067022000071/0001580670-22-000071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1580670/000158067022000071/lgih-20220802.htm
  HTML page:      https://secwatch.observer/filing/0001580670-22-000071

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