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 announced the grand opening of four new communities in the Dallas-Fort Worth area: Cresson Estates, Kingsborough, Retreat at Fossil Creek, and Southaven. These communities offer new construction homes starting in the high $200s, ranging from approximately 1,175 to 2,730 square feet with 3-5 bedrooms. Each community is strategically located, providing residents with a balance of tranquility and convenience.
The homes feature LGI Homes' CompleteHome™ or CompleteHome Plus™ packages, which include upgraded amenities such as energy-efficient Whirlpool® appliances, granite countertops, and Wi-Fi-enabled garage doors at no additional cost. Community amenities like clubhouses, pools, and playgrounds are also available. Move-in ready homes are now available for interested buyers.
LGI Homes, Inc. (NASDAQ: LGIH) reported closing 568 homes in July 2024. As of July 31, 2024, the company maintained 130 active selling communities. This brief press release provides insight into LGI Homes' recent performance in the housing market, offering a snapshot of their monthly home closings and community presence.
LGI Homes (NASDAQ: LGIH) reported strong Q2 2024 results and updated its full-year guidance. Key highlights include:
- Home sales revenues of $602.5 million with 1,655 home closings
- Average sales price of $364,047 per home
- Gross margin of 25.0%, up 300 basis points year-over-year
- Net income of $58.6 million, or $2.48 diluted EPS
- Active selling communities increased to 128, up 25.5% from last year
The company raised its 2024 guidance, now expecting to close between 6,400 and 7,200 homes at an average selling price of $360,000 to $370,000. Gross margin guidance was increased to 23.5%-24.5%.
LGI Homes (NASDAQ: LGIH) announced the closure of 571 homes in June 2024, and a total of 1,655 homes during the second quarter of 2024. By June 30, 2024, LGI Homes had 128 active selling communities. The company will release detailed financial results for Q2 on July 30, 2024, before market opening. A conference call will follow at 12:30 p.m. Eastern Time to discuss the results, with a live audio webcast accessible via the Investor Relations page on their website. The webcast will be archived for replay for one year.
For the second consecutive year, LGI Homes (NASDAQ:LGIH) has been named one of the Best Companies to Work For by U.S. News & World Report for 2024-2025. The recognition is based on attributes such as quality of pay, stability, and comfort. LGI Homes excelled in the Construction industry and the South Region of the United States. Eric Lipar, Chairman and CEO, attributed this achievement to the company's dedication to creating a positive workplace. The U.S. News ratings consider factors like work-life balance, benefits, job stability, and career development. The 2024-2025 list expanded to 549 companies and incorporates employee sentiment data from partners like Revelio Labs and Good Jobs First.
LGI Homes (NASDAQ: LGIH) has announced the opening of McCormick Place, its first community in Baltimore, Maryland. Located 7 miles from downtown Baltimore in the Rosedale area, McCormick Place offers upgraded townhomes starting in the $360s. These townhomes feature three bedrooms, two-and-a-half bathrooms, an attached one-car garage, and a covered porch. Future plans include one and two-story single-family homes. Each home comes with LGI Homes' CompleteHome™ package, which includes stainless-steel Whirlpool® kitchen appliances, granite countertops, designer wood cabinetry, vinyl plank flooring, and a Wi-Fi enabled garage door opener. Prospective buyers can schedule a visit by calling or visiting the company's website.
LGI Homes (NASDAQ: LGIH) has launched a new community, Conners Landing at Mirror Lake, in Villa Rica, Atlanta. This development features homes ranging from 1,601 to 2,231 square feet with prices starting in the $330,000s. The community offers amenities such as a park with a playground, pavilion, grills, and benches, set to open in Fall 2024. Houses come with the CompleteHome™ package, including granite countertops, energy-efficient Whirlpool® appliances, and Wi-Fi-enabled garage door openers. LGI Homes emphasizes the city's growth due to its proximity to Atlanta, enhancing residents' quality of life. Interested buyers can visit the sales center daily or schedule tours online.
LGI Homes (NASDAQ: LGIH) has announced the opening of a new community in Buckeye, Arizona, called Mayfield. This development features affordable, upgraded homes with prices starting from the $330s. Mayfield offers five floor plans ranging from 1,115 to 2,269 square feet, with homes including 3, 4, and 5-bedroom options. Each home in Mayfield comes with LGI's CompleteHome™ package, which includes stainless-steel Whirlpool® appliances, granite countertops, designer wood cabinetry, and more. The community will also feature over $5 million in future parks and amenities. The information center is open daily, and interested buyers can schedule appointments via phone or the LGI Homes website.
LGI Homes has launched its latest community, Westport Landing, in Jacksonville, Florida, with homes starting in the $340s. This development features seven floor plans ranging from 1,604 to 2,938 sq ft, offering 3 to 5 bedrooms and 2 to 3.5 bathrooms. Homes come equipped with upgraded features such as Whirlpool appliances, smart-home technology, and professionally landscaped yards. Residents will enjoy amenities including a community center with a pool, basketball courts, a playground, and a multi-use field. The community is conveniently located near downtown Jacksonville.
LGI Homes (NASDAQ: LGIH) announced the launch of its new community, Eagle Landing, in Tacoma, Washington, on June 12, 2024. This 63-lot community is located just 6 miles from downtown Tacoma and offers homebuyers affordable, upgraded homes close to both Tacoma and Seattle. Eagle Landing features amenities like a neighborhood park, playground, nature preserve, and walking trails. The homes, ranging from 1,157 to 2,378 sq ft, come in five different floor plans and include LGI's CompleteHome™ package with modern appliances and energy-saving features. Prices start from the $490s.
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