LGI Homes reports Q3 EPS $2.85, revenue $617.5M; gross margins back to pre-pandemic levels

LGI Homes, Inc.

2023-Q3 EPS reported $6.21 revenue$1,750,166,000

Net income $67.0M ($2.85 basic EPS) on home sales revenues of $617.5M from 1,751 closings.
Gross margin 25.7% (adj. 27.2%), a 340 bps sequential improvement; pre-tax profit margin 14.5%.
Active selling communities grew to 106; total liquidity $243.2M with net debt to capitalization 38.8%.
Nine-month net orders of 5,646; ending backlog 1,377 homes valued at $509.9M.
Full year 2023 guidance updated; management cites strong Q4 start and positive long-term outlook.

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 0.96

LGI Homes, Inc. reported financial results for the third quarter and nine months ended September 30, 2023.

Period: the third quarter and nine months ended September 30, 2023
Result: reported results

Exact text from the filing

On October 31, 2023, LGI Homes, Inc. (the “Company”) issued a press release announcing its financial results for the three and nine months ended September 30, 2023.

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LGI Homes, Inc. filing history →

Source: SEC EDGAR

accession 0001580670-23-000091

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