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 launched its 2022 Make Your Move National Sales Event, offering special pricing on select move-in ready homes and builder-paid closing costs from September 6 to October 9, 2022. The event aims to enhance homeownership affordability through attractive financing options provided by LGI Mortgage Solutions. CEO Eric Lipar emphasized the commitment to customer experience and homeownership dreams. The company, recognized for quality and service, has closed over 50,000 homes in its 19-year history and is ranked as the 10th largest residential builder in the U.S.
LGI Homes (NASDAQ: LGIH) announced the closing of 504 homes in August 2022, reflecting a strong performance amidst an evolving market landscape. As of August 31, 2022, the company operated 93 active selling communities. With a legacy of over 19 years and more than 50,000 homes closed, LGI Homes continues to rank as one of America's fastest-growing builders. The firm, headquartered in The Woodlands, Texas, has maintained profitability annually and is recognized for quality construction and outstanding customer service.
LGI Homes has announced the opening of ShadowGlen, a new community in Manor, Texas, featuring luxury homes starting from the $450s. This community offers various single and two-story floor plans, ranging from 1,993 to 2,562 square feet, with modern upgrades including KitchenAid appliances and granite countertops. Amenities include a clubhouse, fitness center, and a water park, along with proximity to ShadowGlen Elementary School. LGI Homes has over 19 years of experience, having closed more than 50,000 homes, making it one of America's fastest-growing builders.
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.
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