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, Inc. has launched a new section at Hidden Valley Farm, located near Fort Collins, offering single-family homes starting in the $480,000s. This new community features a selection of both one- and two-story homes with 3 to 5-bedroom plans, designed for modern homebuyers. Each home is equipped with the CompleteHome™ package, which includes several upgrades at no extra cost, such as stainless steel appliances and luxury vinyl flooring. The community also provides access to local parks and amenities, enhancing the living experience. Interested buyers can schedule a tour by contacting LGI Homes directly.
LGI Homes has announced the grand opening of Red Rock Village, a new single-family home community in Tucson, Arizona, with prices starting in the low-$300s. The community features 3 to 5-bedroom open-concept floor plans, upgraded with LGI's CompleteHome™ package, including stainless steel appliances and granite countertops. Residents will enjoy a variety of amenities including swimming pools, sports courts, and an on-site elementary school. LGI Homes has a proven track record, having closed over 50,000 homes and maintaining profitability each year since its inception. More information can be found at LGIHomes.com.
LGI Homes (NASDAQ: LGIH) announced the closing of 506 homes in February 2023, demonstrating continued growth in the housing market. As of February 28, 2023, the company operates 97 active selling communities across 20 states. With a strong legacy of over 50,000 homes closed and consistent profitability for more than 19 years, LGI Homes ranks as the 10th largest residential builder in the U.S. The firm is recognized for quality construction and exceptional customer service, with accolades including the 2022 Cultural Excellence Award from Top Workplaces USA.
LGI Homes has announced its collaboration with Habitat for Humanity of Montgomery County, TX, to construct four homes for deserving families in Conroe, TX, from February 27 to March 4, 2023. This initiative, known as the Blitz Build, involves a 24-hour-a-day schedule to complete the homes rapidly. Trade partners are donating materials and expertise, showcasing LGI's commitment to affordable housing. CFO Charles Merdian emphasized the project's significance in fostering community empowerment and homeownership. This marks a new chapter in the last section of the Cedar Creek subdivision, addressing urgent housing needs and transforming lives.
LGI Homes has officially launched its newest community, Ridgeview, located in Youngtown, Phoenix, with new single-family homes starting in the $360s. This community features a variety of spacious floor plans ranging from three to five bedrooms, equipped with the popular CompleteHome Plus™ package, including stainless steel appliances and granite countertops. Ridgeview is strategically situated near major highways, local amenities, and entertainment options like State Farm Stadium. With a history of over 50,000 homes closed and consistent profitability for the past 19 years, LGI Homes continues to be a major player in the homebuilding industry.
LGI Homes reported strong financial results for Q4 and the full year ending December 31, 2022. The company closed 1,448 homes in Q4, totaling 6,621 homes for the year. Revenue reached $2.3 billion with record profitability metrics: gross margin of 28.1% and net income of $326.6 million, although net income decreased by 24% year-over-year. Inventory was reduced by 21.7%, and the ending backlog of homes decreased by 65.8%. The company repurchased 892,916 shares in 2022 and maintained a robust balance sheet with a net debt-to-capitalization ratio at 39.8%. LGI enters 2023 with positive sales trends but cautious about rising mortgage rates.
LGI Homes (NASDAQ: LGIH) has announced its expansion into the Tampa area with the launch of Royal Highlands in Weeki Wachee, FL. The new community offers five floor plans ranging from 1,270 to 1,984 square feet, featuring one-story homes with modern kitchens, large family rooms, and designer upgrades included in the CompleteHome™ package. Homes are priced from the $280s. Royal Highlands is conveniently located near major employers and attractions such as Weeki Wachee Springs State Park. LGI Homes, recognized as the 10th largest residential builder in the U.S., emphasizes affordable housing solutions while maintaining a commitment to quality and customer service.
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