secwatch.observer — SEC 8-K summary
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Issuer:     LGI Homes, Inc. (LGIH)
CIK:        0001580670
Form:       8-K
Filed at:   2022-11-01T23:59:59+00:00
Accession:  0001580670-22-000078
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LGI Homes Q3 net income down 10.1%; revenue down 27.2%; guidance cut
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- Net income $90.4M ($3.85 diluted EPS) vs $100.6M; home sales revenue $547.1M down 27.2% YoY.
- Home closings fell 38.1% to 1,547; average sales price rose 17.6% to $353,635.
- Gross margin 28.5% (adjusted 29.5%) up 160 bps on cost controls and pricing actions.
- Full year 2022 guidance: 6,700-7,100 closings at ASP $340k-$350k; active communities 95-100.
- Net orders up 77.8% sequentially; financing initiatives and selective price reductions implemented.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1580670/000158067022000078/0001580670-22-000078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1580670/000158067022000078/lgih-20221101.htm
  HTML page:      https://secwatch.observer/filing/0001580670-22-000078

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