LGI Homes Delivers Annual Home Closings and Sets Date for Fourth Quarter and 2022 Year End Earnings Conference Call
LGI Homes (NASDAQ: LGIH) closed 504 homes in December 2022, totaling 1,448 for Q4 and 6,621 for the full year. The company ended December 2022 with 99 active selling communities. CEO Eric Lipar acknowledged the challenge of higher mortgage rates impacting demand. While total closings for the year were slightly below guidance, the company highlighted its efforts in facilitating home ownership. LGI Homes will release its financial results for Q4 and FY 2022 on February 21, 2023.
- Closed 6,621 homes for full year 2022.
- 99 active selling communities at year-end.
- Total homes closed for 2022 were slightly below guidance.
- Challenging demand environment due to higher mortgage rates.
THE WOODLANDS, Texas, Jan. 05, 2023 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced it closed 504 homes in December 2022, for a total of 1,448 homes closed in the fourth quarter of 2022 and 6,621 homes closed for the full year 2022.
The Company had 99 active selling communities at the end of December 2022.
“During the fourth quarter, we continued to navigate the challenging demand environment resulting from higher mortgage rates,” said Eric Lipar, the Company’s Chief Executive Officer and Chairman of the Board. “As a result, we closed 1,448 homes in the fourth quarter and finished the year with total closings of 6,621. While this came in slightly below our guidance, we are extremely proud of all our teams’ efforts in making home ownership possible for thousands of families throughout the year. Additionally, we have made significant progress positioning our Company for future growth and look forward to sharing our outlook for 2023 and our full year 2022 results on our earnings call.”
Fourth Quarter and Full Year 2022 Earnings Conference Call and Webcast
The Company plans to release financial results for the fourth quarter and full year ended December 31, 2022, before the market opens on Tuesday, February 21, 2023. The Company will hold a conference call at 12:30 p.m. Eastern Time the same day to discuss the results.
A link to the live audio webcast will be provided through the Investor Relations page of the Company's website at www.investor.lgihomes.com under the Events and Presentations section.
An archive of the webcast will be available for replay on the Company's website for one year from the date of the conference call.
About LGI Homes, Inc.
LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes. As one of America’s fastest growing companies, LGI Homes has a notable legacy of more than 19 years of homebuilding excellence, over which time it has closed more than 50,000 homes and has been profitable every year. Headquartered in The Woodlands, Texas, LGI Homes has operations across 35 markets in 20 states and, since 2018, has been ranked as the 10th largest residential builder in the United States based on units closed. Nationally recognized for its quality construction and exceptional customer service, LGI Homes’ commitment to excellence extends to its more than 900 employees, earning the Company numerous workplace awards at the local, state and national level, including Top Workplaces USA’s 2022 Cultural Excellence Award. For more information about LGI Homes and its unique operating model focused on making the dream of homeownership a reality for families across the nation, please visit the Company’s website at www.lgihomes.com.
CONTACT:
Joshua D. Fattor
Vice President of Investor Relations
(281) 210-2586
investorrelations@lgihomes.com
FAQ
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