LGI Homes Q1 net income $17.1M ($0.72 EPS); gross margin up 310 bps to 23.4%

LGI Homes, Inc.

2024-Q1 EPS reported $0.72 revenue$390,851,000

Home sales revenues $390.9M; closings 1,083 homes; average price $360,897.
Net income $17.1M ($0.72 diluted EPS); gross margin 23.4% (up 310 bps YoY).
Adjusted gross margin (non-GAAP) 25.3% (up 320 bps YoY).
Active selling communities at quarter-end: 120 (record, +21.2% YoY); owned/controlled lots 70,145.
Repurchased 89,227 shares for $10M in Q1; total liquidity $491.5M.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LGI Homes, Inc. reported three months ended March 31, 2024 results: revenue Home sales revenues of $390.9 million, net income Net income of $17.1 million, or $0.72 basic EPS and $0.72 diluted EPS.

Period: three months ended March 31, 2024
Revenue: Home sales revenues of $390.9 million
Net income: Net income of $17.1 million, or $0.72 basic EPS and $0.72 diluted EPS
Result: reported results

Exact text from the filing

NEWSWIRE) - LGI Homes, Inc. (NASDAQ: LGIH) today announced financial results for the three months ended March 31, 2024. First Quarter 2024 Highlights • Home sales revenues of $390.9 million • Home closings of 1,083 • Average sales price per home closed of $360,897 • Gross margin as a percentage of home sales revenues of 23.4% • Adjusted gross margin (non-GAAP) as a

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Source: SEC EDGAR

accession 0001580670-24-000026

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