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 announced the opening of a new section at Wedgewood Forest, expanding its offerings in Conroe, Texas. The community will feature 93 single-family homes starting from the mid-$340s, available in five unique floor plans ranging from 1,631 to 2,661 square feet. These homes come with modern amenities including stainless steel appliances and luxury finishes. The location offers proximity to major employers and local attractions, enhancing its appeal to potential buyers.
LGI Homes announced the closure of 697 homes in May 2022, showcasing continued growth in its operations. As of May 31, the company operated 91 active selling communities. Recognized as one of America’s fastest-growing homebuilders, LGI Homes boasts a legacy of over 50,000 homes closed in its 19 years of operation and has been profitable every year. The company ranks as the 10th largest residential builder in the U.S. based on units closed and has received various workplace awards for its commitment to quality and customer service.
LGI Homes (NASDAQ: LGIH) has announced the grand opening of Miske Meadows, a new community in Elk River, MN, featuring 129 single-family homes. Homes range from 1,300 to 1,800 sq. ft., priced from the $380s. The community is strategically located near major highways and provides amenities such as parks and walking trails. Residents will benefit from modern home designs with quality finishes. The initiative aims to provide affordable housing options while enhancing local living standards.
LGI Homes has expanded its Terrata Homes brand into the Oklahoma City market with the launch of Winter Creek, a new luxury home community starting from the $490s. This community features five new home plans in the Country Club Collection, offering spacious layouts from 2,602 to over 3,700 square feet with four to five bedrooms. Located near the Winter Creek Golf Course, the community provides access to amenities like a clubhouse, fitness center, and swimming pool. The new homes showcase numerous upgrades, appealing to potential buyers seeking a blend of luxury and a relaxed lifestyle.
LGI Homes has announced the grand opening of South Park Meadows, a new townhome community in Princeton, Texas, with prices starting from the $360s. This community features unique townhome designs, ranging from 1,573 to over 1,700 square feet, offering three to four bedrooms. Each home includes a range of upgrades such as stainless steel appliances and granite countertops. The community boasts proximity to employers, schools, and recreational areas, enhancing its appeal. Interested buyers can schedule tours by contacting LGI Homes directly.
LGI Homes, Inc. (NASDAQ: LGIH) reported the closing of 703 homes in April 2022, marking a steady performance in the residential sector. As of April 30, 2022, the company operates 91 active selling communities across 35 markets in 19 states, reinforcing its position as one of America's fastest-growing homebuilders. The company has closed over 50,000 homes since its inception and has been profitable annually. LGI Homes is recognized for its quality construction and exceptional service, earning multiple workplace awards including the 2022 Cultural Excellence Award from Top Workplaces USA.
LGI Homes (NASDAQ: LGIH) reported its Q1 2022 results, showing a 21% decline in net income to $78.7 million, or $3.30 per share. Home sales revenues fell 22.7% to $546.1 million, with a 37.6% drop in home closings to 1,599. However, the average sales price rose 23.9% to $341,495, and gross margins improved by 210 basis points to 29.0%. The company has a strong backlog of 2,429 homes valued at $849.1 million. Management updated guidance for the year, anticipating average sales prices between $335,000 and $350,000.
LGI Homes has announced the opening of Van Buren Estates, a new housing community in Celina, Texas. This community offers spacious homes situated on one-acre lots, with prices starting in the mid-$800s. Homebuyers can select from five popular floor plans ranging from 3,042 to over 4,000 square feet, featuring luxury upgrades at no additional cost. Van Buren Estates combines modern living with convenience, located near parks and local amenities. Potential buyers are encouraged to contact LGI Homes for more details or to schedule a tour.
LGI Homes, Inc. (NASDAQ: LGIH) announced the closing of 658 homes in March 2022 and a total of 1,599 home closings for the first quarter of 2022. As of March 31, 2022, the company operated 88 active selling communities. Financial results for the first quarter are scheduled for release on May 3, 2022. A conference call will be held at 12:30 p.m. ET that day to discuss the results, accessible via a live audio webcast on the company's investor page.
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