LGI Homes Reports Record Breaking March and First Quarter 2021 Home Closings and Announces Date for First Quarter Earnings Conference Call

Rhea-AI Summary

LGI Homes, Inc. (NASDAQ: LGIH) reported a substantial increase in home closings, achieving 1,147 homes in March 2021, a 44.3% rise from 795 homes in March 2020. The company also reached a record quarterly total of 2,561 home closings for Q1 2021, up 39.6% from 1,835 in Q1 2020. As of March 31, 2021, LGI Homes operated 110 active selling communities. Financial results for Q1 will be released on May 4, 2021, accompanied by a conference call at 12:30 p.m. Eastern Time.

Positive

• 44.3% year-over-year increase in home closings in March 2021.
• Record quarterly home closings of 2,561 in Q1 2021, a 39.6% year-over-year growth.
• 110 active selling communities as of March 31, 2021.

Negative

• None.

THE WOODLANDS, Texas, April 06, 2021 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced it closed 1,147 homes in March 2021, up from 795 homes closed in March 2020, representing year-over-year growth of 44.3%. In addition, the Company announced record breaking quarterly home closings of 2,561 during the first quarter of 2021 compared to 1,835 home closings in the first quarter of 2020, a 39.6% increase year-over-year.

As of March 31, 2021, the Company had 110 active selling communities.

The Company plans to release financial results for the first quarter ended March 31, 2021 before the market opens on Tuesday, May 4, 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 7574991.

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 45,000 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 closings in March 2021?

LGI Homes closed 1,147 homes in March 2021, a 44.3% increase from March 2020.

How did LGIH perform in the first quarter of 2021?

In Q1 2021, LGI Homes achieved a record 2,561 home closings, up 39.6% compared to Q1 2020.

When will LGI Homes release its financial results for Q1 2021?

LGI Homes will release its Q1 financial results on May 4, 2021.

How many active selling communities does LGIH have?

As of March 31, 2021, LGI Homes had 110 active selling communities.