LGI Homes Q1 net income $27M, EPS $1.14; net orders +12.5% YoY

LGI Homes, Inc.

2023-Q1 EPS reported $1.14 revenue$487,357,000

Net income $27.0M, diluted EPS $1.14; home sales revenue $487.4M on 1,366 closings.
Average sales price $356,777 (+4.5% YoY); gross margin 20.3% (adj. 22.1%).
Net orders 2,219 (+12.5% YoY); ending backlog 1,555 homes valued at $561.4M.
Total liquidity $358.8M ($43M cash + $315.8M revolver); net debt/cap 37.5%.
Management cites demand returning to normal; raising prices, expanding margins.

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 first quarter ended March 31, 2023 results: revenue $487.4 million, net income $27.0 million, EPS $1.14 Diluted EPS.

Period: first quarter ended March 31, 2023
Revenue: $487.4 million
Net income: $27.0 million
EPS: $1.14 Diluted EPS
Result: reported results

Exact text from the filing

First Quarter 2023 Highlights • Net Income of $27.0 million, or $1.15 Basic EPS and $1.14 Diluted EPS • Net Income Before Income Taxes of $32.3 million • Home Sales Revenues of $487.4 million • Home Closings of 1,366 homes • Average Sales Price per Home Closed increased 4.5% from the first quarter of 2022 to $356,777 • Gross Margin as a Percentage of Homes Sales

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Source: SEC EDGAR

accession 0001580670-23-000071

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