LGI Homes Reports Record-Breaking September and Third Quarter 2020 Home Closings and Announces Plans to Host Third Quarter 2020 Earnings Call

Rhea-AI Summary

LGI Homes (NASDAQ: LGIH) reported strong performance with 811 home closings in September 2020, up 24.0% from 654 in September 2019. This growth contributes to a record 2,091 quarterly closings for Q3 2020, a 4.4% year-over-year increase. The total for the first nine months stands at 5,931 closings, a 14.6% rise compared to 5,175 in the same period last year. The company operates 110 active selling communities. Financial results for Q3 will be announced on November 3, 2020.

Positive

• 811 home closings in September 2020, a 24.0% increase from the previous year.
• Record quarterly closings of 2,091 in Q3 2020, representing a 4.4% year-over-year growth.
• Total home closings for the first nine months reached 5,931, a 14.6% increase from 2019.

Negative

• None.

THE WOODLANDS, Texas, Oct. 05, 2020 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced 811 home closings in September 2020, up from 654 home closings in September 2019, representing year-over-year growth of 24.0%. In addition, the Company announced record-breaking quarterly home closings of 2,091 during the third quarter of 2020 compared to 2,003 home closings in the third quarter of 2019, a 4.4% increase year-over-year. The Company finished the first nine months of 2020 with a total of 5,931 home closings, a 14.6% increase over 5,175 home closings during the first nine months of 2019.

As of the end of September 2020, the Company had 110 active selling communities.

The Company expects to release financial results for the third quarter ended September 30, 2020 before the market opens on Tuesday, November 3, 2020. The Company expects to hold a conference call for investors and other interested parties on Tuesday, November 3, 2020 at 12:30 p.m. Eastern Time to discuss the results and will provide additional guidance at that time.

A link to the live audio webcast will be provided through the Investors section of the Company's website at www.LGIHomes.com under Events and Presentations. 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 2020 Third Quarter Earnings Conference Call or reference Conference ID 7865812. Those dialing in should do so at least ten minutes prior to the start of the call.

An archive of the webcast will be available for replay on the Company's website for 12 months.

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 and Virginia. Since 2018, LGI Homes has been ranked as the 10^th largest residential builder in the United States based on units closed. The Company has a notable legacy of more than 17 years of homebuilding operations, over which time it has closed more than 40,000 homes. For more information about the Company and its new home developments, please visit the Company’s website at www.lgihomes.com.

CONTACT:
Investor Relations
Joshua Fattor, (281) 210-2619
InvestorRelations@LGIHomes.com 

 

FAQ

What were LGI Homes' home closing figures for September 2020?

LGI Homes reported 811 home closings in September 2020, a 24.0% increase from the previous year.

What is the quarterly home closing record for LGI Homes in Q3 2020?

In Q3 2020, LGI Homes achieved a record of 2,091 home closings, which is a 4.4% increase compared to Q3 2019.

When will LGI Homes announce its third-quarter financial results?

LGI Homes is expected to announce its financial results for Q3 2020 on November 3, 2020.

How many active selling communities does LGI Homes have?

As of September 2020, LGI Homes operates 110 active selling communities.

What is the total number of home closings for LGI Homes in the first nine months of 2020?

For the first nine months of 2020, LGI Homes reported a total of 5,931 home closings, reflecting a 14.6% increase from the same period in 2019.