LGI Homes Inc

LGIH

Equity

ISIN US50187T1060 / Valor 22238758

NASDAQ (2024-12-24)

USD 90.37-0.07%

LGI Homes Inc
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About company

LGI Homes Inc is a residential homebuilder that offers affordable homes in various communities across the United States. The company focuses on providing quality homes at affordable prices, with a range of floor plans and designs to choose from. LGI Homes Inc aims to make the home buying process as smooth as possible for its customers, offering financing options and guidance throughout the process. With a presence in multiple states, LGI Homes Inc continues to expand its reach and provide housing solutions for individuals and families looking to purchase a new home.

Summarized from source with an LLMView SourceSector: Industrials

Revenue Growth

LGI Homes Inc. reported home sales revenues of $602.5 million for the second quarter of 2024. This figure reflects the company's robust performance in the housing market, driven by the sale of 1,655 homes at an average price of $364,047 per home.

Profitability Metrics

For the second quarter of 2024, LGI Homes Inc. achieved a gross margin of 25.0% and an adjusted gross margin of 27.0%. These margins indicate the company's effective cost management and pricing strategies, which have helped maintain profitability despite market challenges.

Net Income

LGI Homes Inc. reported a net income of $58.6 million for the second quarter of 2024, translating to $2.49 basic earnings per share (EPS) and $2.48 diluted EPS. This performance underscores the company's ability to generate significant profits from its operations.

Liquidity Position

As of June 30, 2024, LGI Homes Inc. had total liquidity of $405.9 million, which includes $51.1 million in cash and cash equivalents and $354.8 million available under its revolving credit facility. This strong liquidity position supports the company's ongoing operations and growth initiatives.

Full Year 2024 Outlook

LGI Homes Inc. has updated its guidance for the full year 2024, now expecting to close between 6,400 and 7,200 homes at an average sales price of $360,000 to $370,000. The company also anticipates a gross margin of 23.5% to 24.5% and an adjusted gross margin of 25.5% to 26.5%, reflecting its positive outlook for the remainder of the year.

Summarized from source with an LLMView Source

Key figures

-31.6%1Y

-40.6%3Y

26.8%5Y

Performance

44.8%1Y

46.1%3Y

54.8%5Y

Volatility