---
schema_version: "secwatch.filing_event.v1"
accession: "0001580670-24-000026"
form_type: "8-K"
ticker: "LGIH"
cik: "0001580670"
company_name: "LGI Homes, Inc."
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T04:24:48.715748+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001580670-24-000026
- form_type: 8-K
- ticker: LGIH
- cik: 0001580670
- company_name: LGI Homes, Inc.
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1580670/000158067024000026/0001580670-24-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1580670/000158067024000026/lgih-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001580670-24-000026
- JSON: https://secwatch.observer/filing/0001580670-24-000026.json
- Plain text: https://secwatch.observer/filing/0001580670-24-000026.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1580670/000158067024000026/0001580670-24-000026-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.