LGI Homes Q4 net income falls 69% to $34.1M; full year gross margin record 28.1%

LGI Homes, Inc.

2022-FY EPS reported $13.76 revenue$2,304,455,000

Q4 home sales revenues $488.3M (-39% YoY); closings 1,448 (-42.7%); ASP $337,198 (+6.3%).
Q4 gross margin 20.7% (down 570 bps); adjusted gross margin 22.1% (down 550 bps).
Full year net income $326.6M (-24%); revenues $2.3B (-24.4%); closings 6,621 (-36.6%).
Full year gross margin 28.1% (record); adjusted 29.2% (record); net income margin 14.2% (record).
Early 2023: retail net orders pace 7.2/community vs 2.9 in Q4; backlog down 65.8% to 702 homes.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LGI Homes, Inc. reported three months and fiscal year ended December 31, 2022 results: revenue $2.3 billion, net income $326.6 million, EPS $13.90 basic EPS and $13.76 diluted EPS. Guidance initiated.

Period: three months and fiscal year ended December 31, 2022
Revenue: $2.3 billion
Net income: $326.6 million
EPS: $13.90 basic EPS and $13.76 diluted EPS
Guidance: initiated
Result: reported results

Exact text from the filing

record breaking profitability metrics for the full year.” “We closed 1,448 homes in the fourth quarter, resulting in full year closings of 6,621 homes, full year revenues of $2.3 billion and one of our most profitable years ever. Our full year gross margin was 28.1%, adjusted gross margin was 29.2%, pre-tax net income margin was 18.1% and net income margin was

View on SEC.gov

Browse all earnings releases →

LGI Homes, Inc. filing history →

Source: SEC EDGAR

accession 0001580670-23-000017

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.