secwatch.observer — SEC 8-K summary
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Issuer:     LGI Homes, Inc. (LGIH)
CIK:        0001580670
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0001580670-23-000017
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 Q4 net income falls 69% to $34.1M; full year gross margin record 28.1%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1580670/000158067023000017/0001580670-23-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1580670/000158067023000017/lgih-20230221.htm
  HTML page:      https://secwatch.observer/filing/0001580670-23-000017

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