LGI Homes Reports Record-Breaking June and Second Quarter Home Closings and Announces Date for Second Quarter Earnings Conference Call

Rhea-AI Summary

LGI Homes reported impressive growth in home closings for June 2021, achieving 997 closed homes, a 31.2% increase from June 2020. The company also set a new quarterly record with 2,856 closings in Q2 2021, reflecting a 42.4% year-over-year increase. Year-to-date, 5,417 homes have been closed, marking a 41.1% rise compared to the same period in 2020. As of June 30, 2021, LGI Homes operated 106 active selling communities. Financial results for Q2 2021 will be announced on August 3, 2021.

Positive

• 31.2% increase in June 2021 home closings year-over-year.
• Record-breaking Q2 2021 closings of 2,856, a 42.4% year-over-year increase.
• 41.1% year-to-date increase in total closings, with 5,417 homes closed.

Negative

• None.

THE WOODLANDS, Texas, July 06, 2021 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced it closed 997 homes in June 2021, up from 760 homes closed in June 2020, representing year-over-year growth of 31.2%. In addition, the Company announced record-breaking quarterly closings of 2,856 during the second quarter of 2021 compared to 2,005 closings in the second quarter of 2020, a 42.4% increase year-over-year. The Company finished the first six months of 2021 with a total of 5,417 closings, a 41.1% increase over 3,840 closings during the first six months of 2020.

As of June 30, 2021, the Company had 106 active selling communities.

The Company plans to release financial results for the second quarter ended June 30, 2021 before the market opens on Tuesday, August 3, 2021. 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 Investors page of the Company's website at www.investor.lgihomes.com under the Events and Presentations section.

The call can also be accessed by dialing (855) 433-0929 for domestic participants or (970) 315-0256 for international participants. Participants should ask for the LGI Homes Earnings Conference Call or reference number 7269003.

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.

Headquartered in The Woodlands, Texas, LGI Homes, Inc. engages in the design, construction and sale of homes in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, Nevada, West Virginia, Virginia and Pennsylvania. Since 2018, LGI Homes has been ranked as the 10th largest residential builder in the United States based on units closed. The Company has a notable legacy of more than 18 years of homebuilding operations, over which time it has closed more than 50,000 homes. For more information about the Company and its new home developments, please visit the Company’s website at www.lgihomes.com.

CONTACT:
Joshua D. Fattor
Vice President of Investor Relations
(281) 210-2619
investorrelations@lgihomes.com

FAQ

What were LGIH's home closing numbers for June 2021?

LGI Homes closed 997 homes in June 2021, up from 760 homes in June 2020.

What is the increase in home closings for the second quarter of 2021 for LGIH?

In Q2 2021, LGI Homes reported 2,856 closings, reflecting a 42.4% increase from 2,005 closings in Q2 2020.

When will LGIH release its financial results for Q2 2021?

LGI Homes will release its financial results for the second quarter on August 3, 2021.

How many active selling communities does LGI Homes have?

As of June 30, 2021, LGI Homes had 106 active selling communities.

What is LGIH's year-to-date closing increase for 2021?

LGI Homes has closed 5,417 homes in the first six months of 2021, a 41.1% increase over the same period in 2020.