---
schema_version: "secwatch.filing_event.v1"
accession: "0001580670-23-000017"
form_type: "8-K"
ticker: "LGIH"
cik: "0001580670"
company_name: "LGI Homes, Inc."
filed_at: "2023-02-21T23:59:59+00:00"
generated_at: "2026-06-19T06:55:17.059836+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001580670-23-000017
- form_type: 8-K
- ticker: LGIH
- cik: 0001580670
- company_name: LGI Homes, Inc.
- filed_at: 2023-02-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1580670/000158067023000017/0001580670-23-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1580670/000158067023000017/lgih-20230221.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001580670-23-000017
- JSON: https://secwatch.observer/filing/0001580670-23-000017.json
- Plain text: https://secwatch.observer/filing/0001580670-23-000017.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1580670/000158067023000017/0001580670-23-000017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.