LGI Homes, Inc. Reports First Quarter 2025 Results
LGI Homes reported Q1 2025 financial results with home sales revenues of $351.4 million from 996 home closings at an average price of $352,831. The quarter included a one-time $8.6 million expense for their forward commitment incentive program.
Despite affordability challenges and rate volatility, LGI maintains its 2025 guidance of 6,200-7,000 home closings across 160-170 active communities. However, due to potential tariff impacts, they adjusted gross margin guidance downward by 150 basis points at the low end and 100 basis points at the high end, now expecting 21.7-23.2%.
Key Q1 highlights:
- Net income: $4.0 million ($0.17 per share)
- Active selling communities: 146
- Total owned/controlled lots: 67,792
- Ending backlog: 1,040 homes valued at $406.2 million
- Total liquidity: $360.0 million
LGI Homes ha comunicato i risultati finanziari del primo trimestre 2025 con ricavi dalle vendite di case pari a 351,4 milioni di dollari, derivanti da 996 chiusure di vendita a un prezzo medio di 352.831 dollari. Nel trimestre è stata inclusa una spesa una tantum di 8,6 milioni di dollari per il loro programma di incentivi a impegni futuri.
Nonostante le difficoltà legate all'accessibilità e la volatilità dei tassi, LGI conferma la guida per il 2025 con 6.200-7.000 chiusure di vendita distribuite su 160-170 comunità attive. Tuttavia, a causa di potenziali impatti tariffari, hanno rivisto al ribasso la previsione del margine lordo di 150 punti base nel limite inferiore e di 100 punti base in quello superiore, ora stimato tra il 21,7% e il 23,2%.
Punti chiave del primo trimestre:
- Utile netto: 4,0 milioni di dollari (0,17 dollari per azione)
- Comunità attive in vendita: 146
- Totale lotti posseduti/controllati: 67.792
- Ordini in portafoglio a fine periodo: 1.040 case valutate 406,2 milioni di dollari
- Liquidità totale: 360,0 milioni di dollari
LGI Homes informó los resultados financieros del primer trimestre de 2025 con ingresos por ventas de viviendas de 351,4 millones de dólares, provenientes de 996 cierres de ventas a un precio promedio de 352.831 dólares. El trimestre incluyó un gasto único de 8,6 millones de dólares para su programa de incentivos de compromiso adelantado.
A pesar de los desafíos de accesibilidad y la volatilidad de las tasas, LGI mantiene su guía para 2025 de 6.200-7.000 cierres de viviendas en 160-170 comunidades activas. Sin embargo, debido a posibles impactos arancelarios, ajustaron a la baja la guía del margen bruto en 150 puntos base en el extremo inferior y 100 puntos base en el superior, esperando ahora entre 21,7% y 23,2%.
Puntos clave del primer trimestre:
- Ingreso neto: 4,0 millones de dólares (0,17 dólares por acción)
- Comunidades activas en venta: 146
- Total de lotes propios/controlados: 67.792
- Pedidos pendientes al cierre: 1.040 viviendas valoradas en 406,2 millones de dólares
- Liquidez total: 360,0 millones de dólares
LGI Homes는 2025년 1분기 재무 실적을 발표하며, 996채의 주택 거래에서 평균 가격 352,831달러로 3억 5,140만 달러의 주택 판매 수익을 기록했습니다. 이번 분기에는 선행 약정 인센티브 프로그램에 대한 일회성 비용 860만 달러가 포함되었습니다.
주택 구매 부담과 금리 변동성에도 불구하고, LGI는 2025년 가이던스로 6,200~7,000채의 주택 거래를 160~170개의 활성 커뮤니티에서 유지할 계획입니다. 다만, 잠재적 관세 영향으로 인해 총이익률 가이던스를 하단에서 150 베이시스 포인트, 상단에서 100 베이시스 포인트 하향 조정하여 현재 21.7~23.2%를 예상하고 있습니다.
1분기 주요 내용:
- 순이익: 400만 달러 (주당 0.17달러)
- 활성 판매 커뮤니티: 146개
- 총 소유/관리 부지: 67,792개
- 분기 말 미완료 주문: 1,040채, 가치 4억 620만 달러
- 총 유동성: 3억 6,000만 달러
LGI Homes a publié ses résultats financiers du premier trimestre 2025 avec des revenus de ventes de maisons de 351,4 millions de dollars issus de 996 clôtures de ventes à un prix moyen de 352 831 dollars. Le trimestre comprenait une charge exceptionnelle de 8,6 millions de dollars liée à leur programme d'incitation aux engagements anticipés.
Malgré les défis liés à l'accessibilité et la volatilité des taux, LGI maintient ses prévisions pour 2025 avec 6 200 à 7 000 clôtures de ventes réparties sur 160 à 170 communautés actives. Cependant, en raison d'éventuels impacts tarifaires, ils ont ajusté à la baisse leurs prévisions de marge brute de 150 points de base en bas et de 100 points de base en haut, s'attendant désormais à une marge comprise entre 21,7 % et 23,2 %.
Points clés du premier trimestre :
- Résultat net : 4,0 millions de dollars (0,17 dollar par action)
- Communautés actives en vente : 146
- Total des lots possédés/contrôlés : 67 792
- Carnet de commandes à la fin du trimestre : 1 040 maisons d'une valeur de 406,2 millions de dollars
- Liquidités totales : 360,0 millions de dollars
LGI Homes meldete die Finanzergebnisse für das erste Quartal 2025 mit Umsatzerlösen aus Hausverkäufen in Höhe von 351,4 Millionen US-Dollar aus 996 abgeschlossenen Hausverkäufen zu einem Durchschnittspreis von 352.831 US-Dollar. Das Quartal beinhaltete eine einmalige Ausgabe von 8,6 Millionen US-Dollar für ihr Vorwärtsverpflichtungs-Incentive-Programm.
Trotz Herausforderungen bei der Erschwinglichkeit und Volatilität der Zinssätze hält LGI an seiner Prognose für 2025 fest, mit 6.200-7.000 Hausabschlüssen in 160-170 aktiven Gemeinden. Aufgrund potenzieller Zollauswirkungen wurde die Prognose für die Bruttomarge jedoch um 150 Basispunkte am unteren Ende und 100 Basispunkte am oberen Ende nach unten angepasst, mit einer erwarteten Marge von 21,7-23,2 %.
Wichtige Highlights des ersten Quartals:
- Nettoeinkommen: 4,0 Millionen US-Dollar (0,17 US-Dollar pro Aktie)
- Aktive Verkaufsgemeinden: 146
- Insgesamt besessene/kontrollierte Grundstücke: 67.792
- Endbestand an Aufträgen: 1.040 Häuser im Wert von 406,2 Millionen US-Dollar
- Gesamtliquidität: 360,0 Millionen US-Dollar
- 996 homes delivered in Q1 with $351.4M total revenue
- Strong liquidity position of $360M including $57.6M cash
- Maintained full year guidance of 6,200-7,000 home closings
- Solid backlog of 1,040 homes valued at $406.2M
- Large land position with 67,792 owned and controlled lots
- One-time expense of $8.6M for forward commitment program
- Gross margin guidance reduced by 150-100 basis points
- Net income declined to only $4.0M ($0.17 per share)
- Supplier price increases due to tariffs impacting costs
- Higher interest rates affecting buyer confidence and purchasing ability
Insights
LGI Homes reported mixed Q1 results with $351.4M revenue but lowered margin guidance due to tariff impacts while maintaining volume targets.
LGI Homes delivered a quarter with significant challenges reflected in their financial metrics. With 996 homes closed at an average sales price of $352,831, the company generated $351.4 million in revenue but posted just $4.0 million in net income ($0.17 EPS). Results were impacted by a one-time $8.6 million expense from their forward commitment incentive program.
The most significant takeaway is LGI's decision to trim full-year gross margin guidance by 150 basis points at the low end and 100 basis points at the high end (now 21.7%-23.2%). This reduction directly stems from tariff-related supplier price increases that began surfacing in March. Despite these margin pressures, management maintained volume guidance of 6,200-7,000 home closings for 2025, indicating a strategic choice to potentially sacrifice some margin to maintain sales momentum.
The company's financial position remains relatively stable with $360 million in total liquidity and a 43.4% net debt-to-capitalization ratio. Their continued share repurchase activity (41,685 shares for $3.1 million) and substantial backlog of 1,040 homes valued at $406.2 million provide some buffers against market volatility.
Management's commentary highlights persistent affordability challenges and interest rate volatility affecting buyer confidence - fundamental headwinds facing the entire entry-level homebuilding sector. The emerging tariff situation represents a new variable that could further compress margins industry-wide if builders cannot pass these costs to increasingly price-sensitive consumers.
THE WOODLANDS, Texas, April 29, 2025 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced financial results for the three months ended March 31, 2025.
“During the quarter, we continued to see strong demand for new homes,” said Eric Lipar, Chairman and Chief Executive Officer of LGI Homes. “Affordability remained the biggest challenge for buyers, and rate volatility affected not only their ability to purchase a home, but also their confidence in moving forward with that decision. Given this challenging and uncertain backdrop, we were pleased with the solid results we delivered in the first quarter.
“In the first quarter, we delivered 996 homes at an average sales price of
“We remain confident in our original full year 2025 guidance of closing between 6,200 and 7,000 homes in 160 to 170 active communities by year end, at an average sales price per home closed between
“We continue to monitor tariffs and potential impacts that higher costs could have on margins. In March, we began receiving notices of price increases from some suppliers related to tariffs. With this in mind, we are proactively trimming our full year gross margin guidance by 150 basis points at the low end and 100 basis points at the high end to account for these additional costs and the potential for additional market volatility. As a result, we now expect gross margin to range between
Mr. Lipar concluded, “Despite the recent headwinds, we are confident in the long-term outlook for the housing market. The persistent shortage of entry level homes across the country represents a societal challenge that underscores the importance of affordable, new residential construction. Additionally, underlying demographic fundamentals will only amplify this need, laying the groundwork for a long runway of sustained demand for entry-level homes. These structural dynamics provide us with clarity and conviction as we continue to invest in our future growth.”
First Quarter 2025 Highlights
- Home sales revenues of
$351.4 million - Home closings of 996
- Average sales price per home closed of
$352,831 - Gross margin as a percentage of home sales revenues of
21.0% - Adjusted gross margin (Non-GAAP) as a percentage of home sales revenues of
23.6% - Net income before income taxes of
$5.7 million - Net income of
$4.0 million or$0.17 b asic EPS and$0.17 diluted EPS - Active selling communities at March 31, 2025 of 146
- Total owned and controlled lots at March 31, 2025 of 67,792
- Ending backlog of 1,040 homes valued at
$406.2 million
Please see “Non-GAAP Measures” for a reconciliation of Adjusted Gross Margin (a non-GAAP measure) to Gross Margin, the most directly comparable GAAP measure.
Balance Sheet Highlights
- 41,685 shares of common stock repurchased during the first quarter of 2025 for an aggregate amount of
$3.1 million - Total liquidity of
$360.0 million at March 31, 2025, including cash and cash equivalents of$57.6 million and$302.4 million of availability under the Company’s revolving credit facility - Net debt to capitalization of
43.4% at March 31, 2025
Full Year 2025 Outlook
Subject to the caveats in the Forward-Looking Statements section of this press release and the assumptions noted below, the Company is updating its gross margin and adjusted gross margin as a percentage of home sales revenues outlook for the full year 2025 and reiterating its other outlook items for the full year 2025. Currently, the Company expects for full year 2025:
- Home closings between 6,200 and 7,000
- Active selling communities at the end of 2025 between 160 and 170
- Average sales price per home closed between
$360,000 and$370,000 - Gross margin as a percentage of home sales revenues between
21.7% and23.2% - Adjusted gross margin (Non-GAAP) as a percentage of home sales revenues between
24.0% and25.5% with capitalized interest accounting for substantially all of the difference between gross margin and adjusted gross margin - SG&A as a percentage of home sales revenues between
14.0% and15.0% - Effective tax rate of approximately
24.5%
This outlook assumes that general economic conditions, including input costs, materials, product and labor availability, interest rates and mortgage availability, in the remainder of 2025 are similar to those experienced to date in 2025 and that the average sales price per home closed, construction costs, availability of land and land development costs in the remainder of 2025 are consistent with the Company’s recent experience. In addition, this outlook assumes that governmental regulations relating to land development and home construction are similar to those currently in place and does not take into account any additional changes to U.S. trade policies, including the imposition of tariffs and duties on homebuilding products.
Earnings Conference Call
The Company will host a conference call via live webcast for investors and other interested parties beginning at 12:30 p.m. Eastern Time on Tuesday, April 29, 2025 (the “Earnings Call”).
Participants may access the live webcast by visiting the Investor Relations section of the Company’s website at https://investor.lgihomes.com.
An archive of the Earnings Call webcast will be available for replay on the Company’s website for one year from the date of the Earnings Call.
About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, 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 across 36 markets in 21 states. As one of America’s fastest growing companies, LGI Homes has closed over 75,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek’s list of the World’s Most Trustworthy Companies. LGI Homes’ commitment to excellence extends to its more than 1,000 employees, earning the Company numerous workplace awards at the local, state, and national level, including the Top Workplaces USA 2025 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.
Forward-Looking Statements
Any statements made in this press release or on the Earnings Call that are not statements of historical fact, including statements about the Company’s beliefs, outlook and expectations, are forward-looking statements within the meaning of the federal securities laws, and should be evaluated as such. Forward-looking statements include information concerning expected 2025 home closings, active selling communities, average sales price per home closed, gross margin as a percentage of home sales revenues, adjusted gross margin as a percentage of homes sales revenues, SG&A as a percentage of home sales revenues and effective tax rate, as well as market conditions and possible or assumed future results of operations, including descriptions of the Company’s business plan and strategies. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “predict,” “projection,” “should,” “will” or, in each case, their negative, or other variations or comparable terminology. For more information concerning factors that could cause actual results to differ materially from those contained in the forward-looking statements please refer to the “Risk Factors” section in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, including the “Cautionary Statement about Forward-Looking Statements” subsection within the “Risk Factors” section, and subsequent filings by the Company with the U.S. Securities and Exchange Commission (the “SEC”), including the “Risk Factors” and “Cautionary Statement about Forward-Looking Statements” sections in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 when it is filed with the SEC. The Company bases these forward-looking statements or outlook on its current expectations, plans and assumptions that it has made in light of its experience in the industry, as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances and at such time. As you read and consider this press release or listen to the Earnings Call, you should understand that these statements are not guarantees of future performance or results. The forward-looking statements, including the Company’s full year 2025 outlook, are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or outlook. Although the Company believes that these forward-looking statements and outlook are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect the Company’s actual results to differ materially from those expressed in the forward-looking statements and outlook. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. If the Company does update one or more forward-looking statements, there should be no inference that it will make additional updates with respect to those or other forward-looking statements.
| LGI HOMES, INC. CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share data) | ||||||||
| March 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| ASSETS | ||||||||
| Cash and cash equivalents | $ | 57,600 | $ | 53,197 | ||||
| Accounts receivable | 21,725 | 28,717 | ||||||
| Real estate inventory | 3,553,143 | 3,387,853 | ||||||
| Pre-acquisition costs and deposits | 32,035 | 36,049 | ||||||
| Property and equipment, net | 67,455 | 57,038 | ||||||
| Other assets | 136,529 | 174,391 | ||||||
| Deferred tax assets, net | 8,154 | 9,271 | ||||||
| Goodwill | 12,018 | 12,018 | ||||||
| Total assets | $ | 3,888,659 | $ | 3,758,534 | ||||
| LIABILITIES AND EQUITY | ||||||||
| Accounts payable | $ | 51,862 | $ | 33,271 | ||||
| Accrued expenses and other liabilities | 169,674 | 207,317 | ||||||
| Notes payable | 1,624,597 | 1,480,718 | ||||||
| Total liabilities | 1,846,133 | 1,721,306 | ||||||
| COMMITMENTS AND CONTINGENCIES | ||||||||
| EQUITY | ||||||||
| Common stock, par value | 277 | 276 | ||||||
| Additional paid-in capital | 341,515 | 337,161 | ||||||
| Retained earnings | 2,089,781 | 2,085,787 | ||||||
| Treasury stock, at cost, 4,289,024 shares as of March 31, 2025 and 4,247,339 shares as of December 31, 2024 | (389,047 | ) | (385,996 | ) | ||||
| Total equity | 2,042,526 | 2,037,228 | ||||||
| Total liabilities and equity | $ | 3,888,659 | $ | 3,758,534 | ||||
| LGI HOMES, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except share and per share data) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Home sales revenues | $ | 351,420 | $ | 390,851 | ||||
| Cost of sales | 277,707 | 299,450 | ||||||
| Selling expenses | 42,342 | 41,128 | ||||||
| General and administrative | 31,202 | 31,540 | ||||||
| Operating income | 169 | 18,733 | ||||||
| Other income, net | (5,555 | ) | (4,361 | ) | ||||
| Net income before income taxes | 5,724 | 23,094 | ||||||
| Income tax provision | 1,730 | 6,041 | ||||||
| Net income | $ | 3,994 | $ | 17,053 | ||||
| Earnings per share: | ||||||||
| Basic | $ | 0.17 | $ | 0.72 | ||||
| Diluted | $ | 0.17 | $ | 0.72 | ||||
| Weighted average shares outstanding: | ||||||||
| Basic | 23,396,470 | 23,578,576 | ||||||
| Diluted | 23,466,746 | 23,675,353 | ||||||
Non-GAAP Measures
In addition to the results reported in accordance with accounting principles generally accepted in the United States (“GAAP”), the Company has provided information in this press release relating to adjusted gross margin.
Adjusted Gross Margin
Adjusted gross margin is a non-GAAP financial measure used by management as a supplemental measure in evaluating operating performance. The Company defines adjusted gross margin as gross margin less capitalized interest and adjustments resulting from the application of purchase accounting included in the cost of sales. Management believes this information is useful because it isolates the impact that capitalized interest and purchase accounting adjustments have on gross margin. However, because adjusted gross margin information excludes capitalized interest and purchase accounting adjustments, which have real economic effects and could impact results, the utility of adjusted gross margin information as a measure of the Company’s operating performance may be limited. In addition, other companies may not calculate adjusted gross margin information in the same manner that the Company does. Accordingly, adjusted gross margin information should be considered only as a supplement to gross margin information as a measure of the Company’s performance.
The following table reconciles adjusted gross margin to gross margin, which is the GAAP financial measure that management believes to be most directly comparable (dollars in thousands, unaudited):
| Three Months Ended March 31, | |||||||||
| 2025 | 2024 | ||||||||
| Home sales revenues | $ | 351,420 | $ | 390,851 | |||||
| Cost of sales | 277,707 | 299,450 | |||||||
| Gross margin | 73,713 | 91,401 | |||||||
| Capitalized interest charged to cost of sales | 8,267 | 6,601 | |||||||
| Purchase accounting adjustments (1) | 809 | 803 | |||||||
| Adjusted gross margin | $ | 82,789 | $ | 98,805 | |||||
| Gross margin % (2) | 21.0 | % | 23.4 | % | |||||
| Adjusted gross margin % (2) | 23.6 | % | 25.3 | % | |||||
| (1) | Adjustments result from the application of purchase accounting for acquisitions and represent the amount of the fair value step-up adjustments included in cost of sales for real estate inventory sold after the acquisition dates. |
| (2) | Calculated as a percentage of home sales revenues. |
Home Sales Revenues, Home Closings, Average Sales Price Per Home Closed (ASP), Average Community Count, Average Monthly Absorption Rate and Closing Community Count by Reportable Segment
(Revenues in thousands, unaudited)
| Three Months Ended March 31, 2025 | As of March 31, 2025 | |||||||||||||
| Reportable Segment | Revenues | Home Closings | ASP | Average Community Count | Average Monthly Absorption Rate | Community Count at End of Period | ||||||||
| Central | $ | 101,146 | 330 | $ | 306,503 | 51.0 | 2.2 | 50 | ||||||
| Southeast | 101,682 | 312 | 325,904 | 29.3 | 3.5 | 30 | ||||||||
| Northwest | 34,237 | 65 | 526,723 | 16.7 | 1.3 | 16 | ||||||||
| West | 66,956 | 159 | 421,107 | 25.7 | 2.1 | 25 | ||||||||
| Florida | 47,399 | 130 | 364,608 | 25.3 | 1.7 | 25 | ||||||||
| Total | $ | 351,420 | 996 | $ | 352,831 | 148.0 | 2.2 | 146 | ||||||
| Three Months Ended March 31, 2024 | As of March 31, 2024 | |||||||||||||
| Reportable Segment | Revenues | Home Closings | ASP | Average Community Count | Average Monthly Absorption Rate | Community Count at End of Period | ||||||||
| Central | $ | 103,736 | 319 | $ | 325,191 | 41.7 | 2.5 | 43 | ||||||
| Southeast | 116,445 | 355 | 328,014 | 26.7 | 4.4 | 27 | ||||||||
| Northwest | 36,067 | 62 | 581,726 | 12.0 | 1.7 | 14 | ||||||||
| West | 73,079 | 179 | 408,263 | 17.0 | 3.5 | 17 | ||||||||
| Florida | 61,524 | 168 | 366,214 | 19.3 | 2.9 | 19 | ||||||||
| Total | $ | 390,851 | 1,083 | $ | 360,897 | 116.7 | 3.1 | 120 | ||||||
Owned and Controlled Lots
The table below shows (i) home closings by reportable segment for the three months ended March 31, 2025 and (ii) the Company’s owned or controlled lots by reportable segment as of March 31, 2025.
| Three Months Ended March 31, 2025 | As of March 31, 2025 | |||||||
| Reportable Segment | Home Closings | Owned (1) | Controlled | Total | ||||
| Central | 330 | 19,948 | 1,425 | 21,373 | ||||
| Southeast | 312 | 14,097 | 4,173 | 18,270 | ||||
| Northwest | 65 | 5,162 | 2,549 | 7,711 | ||||
| West | 159 | 9,197 | 4,250 | 13,447 | ||||
| Florida | 130 | 5,357 | 1,634 | 6,991 | ||||
| Total | 996 | 53,761 | 14,031 | 67,792 | ||||
| (1) | Of the 53,761 owned lots as of March 31, 2025, 37,064 were raw/under development lots and 16,697 were finished lots. Finished lots included 2,702 completed homes, including information centers, and 1,522 homes in progress. |
Backlog Data
As of the dates set forth below, the Company’s net orders, cancellation rate and ending backlog homes and value were as follows (dollars in thousands, unaudited):
| Backlog Data | Three Months Ended March 31, | |||||||
| 2025 (4) | 2024 (5) | |||||||
| Net orders (1) | 1,437 | 1,828 | ||||||
| Cancellation rate (2) | 16.3 | % | 16.8 | % | ||||
| Ending backlog – homes (3) | 1,040 | 1,335 | ||||||
| Ending backlog – value (3) | $ | 406,166 | $ | 519,507 | ||||
| (1) | Net orders are new (gross) orders for the purchase of homes during the period, less cancellations of existing purchase contracts during the period. |
| (2) | Cancellation rate for a period is the total number of purchase contracts cancelled during the period divided by the total new (gross) orders for the purchase of homes during the period. |
| (3) | Ending backlog consists of retail homes at the end of the period that are under a purchase contract that has been signed by homebuyers who have met preliminary financing criteria but have not yet closed and wholesale contracts with varying terms. Ending backlog is valued at the contract amount. |
| (4) | As of March 31, 2025, the Company had 253 units related to bulk sales agreements associated with its wholesale business. |
| (5) | As of March 31, 2024, the Company had 178 units related to bulk sales agreements associated with its wholesale business. |
CONTACT: Joshua D. Fattor
Executive Vice President, Investor Relations and Capital Markets
(281) 210-2586
investorrelations@lgihomes.com
FAQ
What is LGIH's expected home delivery target for 2025?
How did tariffs impact LGIH's gross margin guidance for 2025?
What was LGIH's average home sale price in Q1 2025?
How many shares did LGIH repurchase in Q1 2025?
What is LGIH's expected average sales price range for homes in 2025?
How many homes were in LGIH's backlog as of March 31, 2025?
