LGI Homes Q2 EPS $2.48 (+10% YoY); guides FY 6,400-7,200 closings, higher margins

LGI Homes, Inc.

2024-Q2 EPS reported $3.20 revenue$993,348,000

Revenue $602.5M on 1,655 closings; EPS $2.48 diluted, up 10.2% YoY.
Gross margin 25.0% (adj. 27.0%), up 300bps YoY, meeting pre-pandemic levels.
Active communities 128, up 25.5% YoY; target 150 by year-end.
FY2024 guidance: closings 6,400-7,200; ASP $360k-$370k; gross margin 23.5-24.5%.
Q2 share repurchases: 83,763 shares for $8M; liquidity $405.9M.

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