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 has launched its new community, The Tate Reserve, in the Atlanta market, offering luxury homes starting in the $530s. This community features spacious layouts, high-end finishes, and exclusive home designs ranging from 1,883 to 3,656 square feet. Residents can enjoy a 25-acre nature preserve, a clubhouse, and nearby recreational activities. LGI Homes, recognized for its consistent profitability and customer service, continues to expand its footprint across 35 markets. The company has successfully closed over 50,000 homes in its 19-year history.
LGI Homes (NASDAQ: LGIH) reported the closing of 469 homes in July 2022, showcasing a strong performance in the residential market. As of the end of July, the company maintained 93 active selling communities across 20 states, validating its expansive reach and operational capacity. With a legacy of over 50,000 homes closed and consistent profitability since its inception, LGI Homes is ranked as the 10th largest residential builder in the U.S. The company's commitment to quality and customer service has earned it multiple workplace awards.
LGI Homes reported its Q2 2022 results, with net income rising 4.4% to $123.4 million, equating to $5.24 per share. However, home sales revenues fell 8.6% to $723.1 million, and home closings decreased by 29.0%, totaling 2,027. The average sales price increased 28.7% to $356,719, while gross margins improved significantly. For the first half of 2022, net income dropped 7.2% to $202.1 million, amid a 15.2% decline in home sales revenues to $1.3 billion. The company updated its full-year guidance, expecting home closings between 7,500 and 8,300.
LGI Homes announced the launch of Colonial Crossing, a new community in Charlotte, NC, expanding its market presence. This development offers a variety of affordable single-family homes ranging from 1,601 to 2,805 square feet, with prices starting from the low-$300s. The community features amenities such as grilling pavilions and nature trails and is strategically located near shopping and outdoor activities at Lake Norman. LGI Homes continues to prioritize quality construction and customer satisfaction, bolstering its reputation in the homebuilding sector.
LGI Homes has announced the grand opening of Gilman Walk, a new community in Arlington, Washington, featuring 115 townhomes near a conservation area along the Stillaguamish River. The community offers easy access to major employment centers, local shops, and outdoor activities. Three new floor plans range from 1,300 to 1,700 square feet, priced from the $460s, with upscale features included. This initiative enhances LGI's presence in the market, providing affordable housing options while supporting local amenities and scenic views.
LGI Homes closed 627 homes in June 2022, contributing to a total of 2,027 homes closed during the second quarter. By June 30, 2022, the company operated 92 active selling communities. Financial results for Q2 2022 will be released on August 2, 2022, with a conference call scheduled for 12:30 p.m. ET the same day. LGI Homes, headquartered in The Woodlands, Texas, ranks as the 10th largest residential builder in the U.S. since 2018, having closed over 50,000 homes in its 19 years of operation.
LGI Homes has launched new single-family homes at The Colony in Bastrop, Texas, starting from the mid-$400s. This master-planned community provides quick access to major employers, schools, and outdoor attractions. Homes range from 1,801 to over 2,300 square feet, featuring open layouts, chef-inspired kitchens, and high-end finishes at no additional cost. Energy-efficient features are included to enhance sustainability. With over 50,000 homes closed and a 19-year legacy in homebuilding, LGI Homes continues to expand its presence across the United States.
LGI Homes has unveiled a new collection of move-in ready single-family homes at Luckey Ranch in San Antonio, with prices starting from the $280s. The homes range from 1,356 to over 2,100 square feet, featuring up to four bedrooms and three bathrooms. Each home includes modern amenities like stainless steel appliances, granite countertops, and energy-efficient features. Luckey Ranch offers excellent community amenities, including a sports park and recreational facilities, enhancing the family-friendly atmosphere.
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