LGI Homes Reports September and Third Quarter 2024 Home Closings and Announces Date for Third Quarter Earnings Conference Call

Rhea-AI Summary

LGI Homes (NASDAQ: LGIH) reported closing 579 homes in September 2024, marking a 7.2% year-over-year increase. For the third quarter of 2024, the company closed a total of 1,757 homes. As of September 30, 2024, LGI Homes had 138 active selling communities.

The company announced it will release its financial results for Q3 2024 before the market opens on Tuesday, November 5, 2024. A conference call is scheduled for 12:30 p.m. Eastern Time on the same day to discuss the results. Investors can access the live audio webcast through the company's Investor Relations page, with an archive available for one year after the call.

Positive

• 7.2% year-over-year increase in home closings for September 2024
• 1,757 homes closed during the third quarter of 2024
• 138 active selling communities as of September 30, 2024

Negative

• None.

Insights

Financial Analyst

LGI Homes' September closings of 579 homes represent a 7.2% year-over-year increase, indicating positive momentum in the housing market despite recent economic challenges. The third quarter total of 1,757 home closings suggests steady performance, though without comparative data, it's challenging to gauge the full extent of growth.

The company's 138 active selling communities as of September 30 provide a solid foundation for future revenue streams. However, investors should note that this figure alone doesn't reveal community growth or decline rates, which could impact future performance.

While the announcement of the earnings call date is routine, it's important for investors to mark November 5 on their calendars. The call will likely provide essential insights into the company's financial health, market strategies and future outlook, which could significantly influence stock performance in the short term.

Overall, the increase in home closings is a positive indicator, but without more comprehensive financial data, it's premature to draw definitive conclusions about LGI Homes' overall financial performance or stock valuation.

THE WOODLANDS, Texas, Oct. 03, 2024 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced it closed 579 homes in September 2024, a 7.2% year-over-year increase, resulting in a total of 1,757 homes closed during the third quarter of 2024.

As of September 30, 2024, the Company had 138 active selling communities.

The Company plans to release financial results for the third quarter ended September 30, 2024, before the market opens on Tuesday, November 5, 2024. 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.

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 70,000 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 2024 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
Executive Vice President, Investor Relations and Capital Markets
(281) 210-2586
investorrelations@lgihomes.com

FAQ

How many homes did LGI Homes (LGIH) close in September 2024?

LGI Homes closed 579 homes in September 2024, representing a 7.2% year-over-year increase.

What was LGI Homes' (LGIH) total home closings for Q3 2024?

LGI Homes closed a total of 1,757 homes during the third quarter of 2024.

When will LGI Homes (LGIH) release its Q3 2024 financial results?

LGI Homes will release its financial results for the third quarter of 2024 before the market opens on Tuesday, November 5, 2024.

How many active selling communities did LGI Homes (LGIH) have as of September 30, 2024?

As of September 30, 2024, LGI Homes had 138 active selling communities.