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 reported a decrease in net income of 18.4% to $111.3 million for Q4 2021, reflecting a 10.7% drop in home sales revenues at $801.1 million and a 25.9% reduction in home closings to 2,526. However, full year results showed a 32.6% increase in net income to $429.6 million and 28.8% rise in home sales revenues to $3.1 billion. The company announced an increase in its stock repurchase program by $200 million, now totaling $306.6 million. Despite challenges like labor shortages, LGI is optimistic about 2022's growth prospects.
LGI Homes closed 442 homes in January 2022, showcasing strong performance in the housing market. As of January 31, the company has 90 active selling communities, emphasizing its growth and operational reach. LGI Homes has a legacy of over 50,000 closed homes in more than 18 years of business, maintaining profitability every year. Ranked as the 10th largest residential builder in the U.S., LGI is recognized for its quality construction and exceptional customer service.
LGI Homes announces the opening of a new section of homes at The Orchards near Yuba City, California, with prices starting from the $380s. This development features five floor plans ranging from 1,292 to 2,200 square feet, with homes offering up to five bedrooms and three baths. Each home includes LGI's CompleteHome™ package, featuring energy-efficient appliances, granite countertops, and solar panels. The community is conveniently located near schools, employers, and recreational venues, enhancing its appeal to families.
LGI Homes, Inc. (NASDAQ: LGIH) announced the appointment of Maria Renna Sharpe as an independent director to its Board. With over 37 years of expertise in legal, human resources, and accounting, Ms. Sharpe currently leads Sharpe Human Solutions, LLC and serves on the Board of Lamb Weston Holdings, where she chairs the Compensation Committee. Previously, she held significant HR roles at PepsiCo. Chairman Eric Lipar emphasizes her exceptional leadership abilities, anticipating her contributions will enhance the company's growth and success.
LGI Homes (NASDAQ: LGIH) reported 1,004 home closings in December, totaling 2,526 in Q4 and a record 10,442 for 2021, an 11.8% increase from the previous year. CEO Eric Lipar praised the company's performance, highlighting their resilience in a challenging market. At year-end, LGI had 101 active selling communities. The company plans to release its Q4 and full year financial results on February 15, 2022, along with guidance for 2022.
LGI Homes, Inc. (NASDAQ: LGIH) announces the grand opening of Meadows North, a new single-family home community in North Branch, Minnesota. The community features seven floor plans priced from the $330s, with homes ranging from 1,370 to 1,797 square feet. Residents will enjoy modern amenities, including chef-ready kitchens and luxury flooring, access to a new city park, and proximity to local attractions and shopping. LGI aims to construct 120 homes in Phase I, with quick move-in options available.
LGI Homes (NASDAQ: LGIH) has launched a new community named Skyline in Las Vegas, priced from the $300s. This development features spacious two-story homes with two-car garages and numerous upgrades. Located in Henderson, the community offers easy access to parks, shopping, and dining, catering to homebuyers looking for tranquility near city amenities. Each home includes the CompleteHome™ package, designed for modern living, with smart technology and luxury finishes.
LGI Homes (Nasdaq: LGIH) announced the opening of its new community, Creedmore Hills, in Charlotte, NC, located off I-485 and close to downtown and the international airport. The community features five floor plans of two-story single-family homes, ranging from 1,434 to 2,201 square feet, with prices starting from the high-$200s. Each home includes the CompleteHome™ package with energy-efficient appliances and modern designs. This expansion highlights LGI's commitment to providing affordable, high-quality homes for buyers in a prime location.
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