Welcome to our dedicated page for LGI Homes news (Ticker: LGIH), a resource for investors and traders seeking the latest updates and insights on LGI Homes stock.
LGI Homes, Inc. (symbol: LGIH) is a premier homebuilder based in The Woodlands, Texas, dedicated to making homeownership dreams come true since 2003. Specializing in the design, construction, and sale of new homes, LGI Homes strategically places its beautiful new homes in amenity-rich communities near major metropolitan areas, offering the perfect blend of location, affordability, and lifestyle.
The company’s mission is to provide both first-time and long-time homebuyers with quality homes at affordable prices. This is achieved through an efficient business model where LGI Homes procures and develops its own land, allowing for significant cost savings that are passed directly to customers. The communities are situated close to urban centers, providing residents with the benefits of city life while enjoying the open space and lower costs of suburban living.
LGI Homes offers a variety of products including entry-level homes, move-up homes, and luxury series homes under the LGI Homes and Terrata Homes brands. Each community features a set number of floor plans with appealing upgrades such as granite countertops, modern appliances, and ceramic tile flooring. The company's operations are divided into seven segments: Central, Midwest, Southeast, Mid-Atlantic, Northwest, West, and Florida, with the majority of revenue generated from the Central division.
Recent achievements include robust balance sheet highlights, significant home sales revenue, increased average sales prices per home closed (ASP), and notable average monthly absorption rates. LGI Homes continues to expand its footprint with a substantial backlog of owned and controlled lots, ensuring a steady pipeline of new homes to meet market demand.
As a publicly traded company, LGI Homes is committed to transparency and providing shareholders with the latest updates on financial performance, community counts, and closing metrics by reportable segment. For more detailed information and the latest news, visit here.
LGI Homes (NASDAQ: LGIH) announces the opening of Choplin Farms, a new community in Nash County, featuring homes on half-acre to 1+ acre lots. Located 35 minutes from Downtown Raleigh, the community offers new floor plans ranging from 1,531 to 2,373 square feet, with three to four bedrooms and two to two-and-a-half baths. The lineup includes three one-story ranch-style plans with covered porches and rear decks, plus two two-story plans with flexible spaces.
All homes include the CompleteHome™ package featuring granite countertops, stainless steel appliances, and energy-efficient upgrades at no extra cost. Prices start from the mid-$300s. The community provides easy access to major employers, shopping, dining, and outdoor recreational areas including Buckhorn Lake.
LGI Homes has announced the grand opening of Brimington Farm, a new community in Waynesboro, Pennsylvania. The development offers affordable housing options with 3-bedroom townhomes starting in the $300s and 3- to 4-bedroom single-family homes starting in the mid-$400s. Each home includes the CompleteHome Plus™ package featuring granite countertops, stainless steel appliances, and energy-efficient upgrades at no additional cost.
The community is strategically located near major highways, championship golf courses, and top-rated ski resorts. Residents will enjoy proximity to Memorial Park, Waynesboro Country Club, Liberty Mountain Resort, and Hagerstown's shopping and dining options. Children can walk to all schools from the neighborhood, making it an ideal location for families.
LGI Homes reported closing 531 homes in November 2024, which includes a bulk sale of 103 single-family rental homes. As of November 30, 2024, the company maintained 142 active selling communities.
LGI Homes has announced the pricing of $400 million in unsecured Senior Notes due 2032. The Notes will carry a 7.000% annual interest rate and will be guaranteed by the Company's subsidiaries that guarantee its revolving credit facility. The sale is expected to complete on November 15, 2024, subject to closing conditions. The Company plans to use the net proceeds to repay a portion of its outstanding revolving credit facility borrowings. The Notes are being offered to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.
LGI Homes has announced a private offering of $400 million in unsecured Senior Notes due 2032. The notes will be offered to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act. The notes will be guaranteed by the Company's subsidiaries that guarantee its revolving credit facility. The proceeds will be used to repay a portion of outstanding borrowings under the Company's revolving credit facility. The offering is subject to market conditions and has not been registered under the Securities Act.
LGI Homes reported closing 525 homes in October 2024. As of October 31, 2024, the company maintained 138 active selling communities.
LGI Homes reported Q3 2024 results with home sales revenues up 5.6% to $651.9 million and home closings up 0.3% to 1,757 homes. The average sales price increased 5.2% to $371,004. Net income grew 3.8% to $69.6 million. For the nine months ended September 30, home sales revenues decreased 6.0% to $1.6 billion, with closings down 9.6%. The company's active selling communities increased 30.2% year-over-year to 138. Based on current performance, LGI Homes updated its 2024 guidance, now expecting to close between 6,100 and 6,400 homes.
LGI Homes (NASDAQ: LGIH) reported closing 579 homes in September 2024, marking a 7.2% year-over-year increase. For the third quarter of 2024, the company closed a total of 1,757 homes. As of September 30, 2024, LGI Homes had 138 active selling communities.
The company announced it will release its financial results for Q3 2024 before the market opens on Tuesday, November 5, 2024. A conference call is scheduled for 12:30 p.m. Eastern Time on the same day to discuss the results. Investors can access the live audio webcast through the company's Investor Relations page, with an archive available for one year after the call.
LGI Homes has been named on Newsweek's list of the World's Most Trustworthy Companies 2024 for the second consecutive year. This recognition highlights the company's commitment to integrity and excellence in the homebuilding industry. The award, presented in collaboration with Statista, was based on an independent survey of over 70,000 participants across 23 industries in 20 countries.
Eric Lipar, Chairman and CEO of LGI Homes, expressed pride in the achievement, emphasizing its reflection of the company's strong culture and employee dedication. The survey evaluated companies with revenues over $500 million USD on three key aspects: Investor Trust, Customer Trust, and Employee Trust. This recognition reinforces LGI Homes' position as a leader in helping families achieve homeownership while maintaining high standards of trustworthiness.
LGI Homes (NASDAQ: LGIH) has launched its largest national sales event of the year, 'Make Your Move,' running through October 20th. The event offers special pricing and financing incentives on move-in ready homes for both LGI Homes and Terrata Homes brands. Key features include:
- Rate buydown assistance and builder-paid closing costs through LGI Mortgage Solutions
- Focus on making homeownership attainable for first-time buyers
- Opportunity for lower monthly payments and long-term savings
- Simplified buying process to enhance customer experience
CEO Eric Lipar emphasizes the event's significance in providing customers with substantial savings and value on new homes.
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