LGI Homes Q2 net income $53.1M, EPS $2.25; raises full-year closing and margin guidance

LGI Homes, Inc.

2023-Q2 EPS reported $3.39 revenue$1,132,627,000

Q2 net income $53.1M ($2.25 diluted EPS); home sales revenue $645.3M on 1,854 closings.
Full-year closing guidance raised to 6,500-7,200 homes; gross margin guidance raised to 21.5%-23.5%.
Net new orders in Q2 increased 124.2% YoY; average selling price $348,042, down 2.4% YoY.
Active selling communities at June 30: 102; expects 115-125 by year-end.
Total liquidity $384.7M; net debt to capitalization 36.8% as of June 30, 2023.

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 0.9

LGI Homes, Inc. updated its Full Year 2023 guidance (raised).

Period: Full Year 2023
Guidance: raised
Result: guidance update

Exact text from the filing

we are raising our full year closing guidance to a range between 6,500 and 7,200 homes and raising our full year gross margin guidance to a range between 21.5% and 23.5% and adjusted gross margin guidance to a range between 23.0% and 25.0%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LGI Homes, Inc. reported second quarter 2023 results: revenue $645.3 million, net income $53.1 million, EPS $2.26 Basic EPS and $2.25 Diluted EPS.

Period: second quarter 2023
Revenue: $645.3 million
Net income: $53.1 million
EPS: $2.26 Basic EPS and $2.25 Diluted EPS
Result: reported results

Exact text from the filing

Second Quarter 2023 Highlights • Net Income of $53.1 million, or $2.26 Basic EPS and $2.25 Diluted EPS • Net Income Before Income Taxes of $71.4 million • Home Sales Revenues of $645.3 million • Home Closings of 1,854 • Average Sales Price per Home Closed of $348,042 • Gross Margin as a Percentage of Homes Sales Revenues of 22.0% • Adjusted Gross Margin* as a Percentage of Home Sales Revenues of 23.8%

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LGI Homes, Inc. filing history →

Source: SEC EDGAR

accession 0001580670-23-000082

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