Welcome to our dedicated page for LGI Homes news (Ticker: LGIH), a resource for investors and traders seeking the latest updates and insights on LGI Homes stock.
LGI Homes, Inc. (symbol: LGIH) is a premier homebuilder based in The Woodlands, Texas, dedicated to making homeownership dreams come true since 2003. Specializing in the design, construction, and sale of new homes, LGI Homes strategically places its beautiful new homes in amenity-rich communities near major metropolitan areas, offering the perfect blend of location, affordability, and lifestyle.
The company’s mission is to provide both first-time and long-time homebuyers with quality homes at affordable prices. This is achieved through an efficient business model where LGI Homes procures and develops its own land, allowing for significant cost savings that are passed directly to customers. The communities are situated close to urban centers, providing residents with the benefits of city life while enjoying the open space and lower costs of suburban living.
LGI Homes offers a variety of products including entry-level homes, move-up homes, and luxury series homes under the LGI Homes and Terrata Homes brands. Each community features a set number of floor plans with appealing upgrades such as granite countertops, modern appliances, and ceramic tile flooring. The company's operations are divided into seven segments: Central, Midwest, Southeast, Mid-Atlantic, Northwest, West, and Florida, with the majority of revenue generated from the Central division.
Recent achievements include robust balance sheet highlights, significant home sales revenue, increased average sales prices per home closed (ASP), and notable average monthly absorption rates. LGI Homes continues to expand its footprint with a substantial backlog of owned and controlled lots, ensuring a steady pipeline of new homes to meet market demand.
As a publicly traded company, LGI Homes is committed to transparency and providing shareholders with the latest updates on financial performance, community counts, and closing metrics by reportable segment. For more detailed information and the latest news, visit here.
LGI Homes (NASDAQ: LGIH) has announced the launch of Terrata Homes at Whisper Valley, a master-planned community in Manor, TX. This new section offers spacious, upgraded homes with three to five bedrooms, modern amenities, and open-concept designs. Prices for these homes start in the high $400,000s, with move-in ready options available. Whisper Valley spans 2,067 acres and features parks, trails, and 700 acres of green spaces, promoting sustainability and an active lifestyle. Future developments include local services such as schools and retail areas, enhancing the community's appeal.
LGI Homes continues to thrive in the homebuilding sector, having closed over 64,000 homes since its inception in 2003, and remains focused on quality construction and excellent customer service.
On April 5, 2023, LGI Homes (NASDAQ: LGIH) reported the closing of 529 homes in March 2023, totaling 1,366 closings for Q1 2023. As of March 31, 2023, the company operated 99 active selling communities. LGI Homes plans to announce its first-quarter financial results on May 2, 2023, before market opening, followed by a conference call at 12:30 p.m. ET.
With over 50,000 homes closed and operations in 35 markets across 20 states, LGI Homes has established itself as a leader in homebuilding. Notably, it has been profitable for over 19 years and is recognized as the 10th largest residential builder in the U.S.
LGI Homes (NASDAQ: LGIH) has officially opened its new community, Avondale North, located in Conyers, Georgia, just southeast of Atlanta. This community features a variety of amenities including a park, playground, splash pad, and sports courts, designed to cater to modern family needs. The new homes range from three to four bedrooms, priced from the low-$300s, and come with LGI’s CompleteHome™ interior package, which includes upscale features like granite countertops and energy-efficient appliances at no extra charge. LGI Homes has a proven track record of success, having closed over 50,000 homes and consistently profitable for over 19 years.
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