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 announced the construction of 168 new homes at Vacek Country Meadows in Richmond, Texas, starting from the $240s. These move-in ready homes are located in a desirable area with easy access to major highways and local amenities. Each home features the CompleteHome™ package, offering modern design and energy efficiency. Homebuyers will enjoy spacious floor plans with up to five bedrooms and various recreational activities nearby. The development emphasizes value and quality in a competitive housing market.
LGI Homes reported strong performance for August 2021, closing 776 homes, a 16.0% increase from 669 homes closed in August 2020. For the year-to-date, the company recorded 7,123 home closings, marking a 39.1% rise compared to 5,120 home closings in the same period last year. As of the end of August 2021, LGI Homes operates 102 active selling communities. The company maintains a robust presence, being one of the fastest-growing residential builders in the U.S., with over 50,000 homes closed in 18 years.
LGI Homes (NASDAQ: LGIH) has announced the launch of two new communities, Shadowbend in Anna and Big Sky Estates in Denton County, as part of its expansion in the Dallas-Fort Worth area. These communities respond to the strong demand for homeownership in the region. Shadowbend features seven floor plans starting from the low-$300s, while Big Sky Estates offers five plans starting in the mid-$200s. Both developments will include various amenities and upgrades, including energy-efficient appliances and Fiber Internet access.
LGI Homes, Inc. (NASDAQ: LGIH) announced the resignation of Laura Miller from its Board of Directors, effective immediately. Ms. Miller cited the need to focus on her responsibilities as CIO at Macy’s and other commitments. She expressed pride in LGI's achievements and confidence in the company's growth trajectory. CEO Eric Lipar acknowledged Ms. Miller's contributions and noted her expertise in cybersecurity was pivotal in modernizing the company's IT systems. LGI Homes is currently seeking a new independent director to fill Ms. Miller's position.
LGI Homes (NASDAQ: LGIH) has launched Reunion Village in Orlando, featuring new homes priced from the $390s. The community boasts modern floor plans ranging from 1,500 to 2,268 square feet, with 3 to 5 bedrooms and luxury finishes included in the CompleteHome Plus™ package. Residents will enjoy resort amenities, including a fitness center, sports courts, and a large water park. Quick move-in options are available, facilitating easier home buying. For more information or tours, contact LGI Homes or visit their website.
LGI Homes reported substantial growth in home closings for July 2021, achieving 930 closings, a significant increase of 52.2% from 611 in July 2020. The company has closed a total of 6,347 homes in the first seven months of 2021, marking a 42.6% increase from 4,451 homes during the same period last year. As of July 31, 2021, LGI Homes operates 103 active selling communities.
LGI Homes reported significant financial growth for Q2 2021, with net income rising 112.4% to $118.1 million, translating to $4.71 diluted EPS. Home sales revenues increased 64.3% to $791.5 million, driven by a 15.4% rise in average sales price. Home closings also saw a 42.4% uptick, totaling 2,856 homes. Despite a 10.1% decline in net orders, the company raised its full-year guidance, anticipating 10,000-10,500 home closings and a higher expected average sales price of $285,000-$295,000.
LGI Homes has announced the opening of Riverstone, a new community in Lakeland, Florida, featuring single-family homes priced from the $290s. This master-planned community includes upgraded homes ranging from 1,401 to 1,984 square feet with 3 to 5 bedrooms and 2 to 3 bathrooms. Residents will enjoy amenities such as playgrounds, a resort-style pool, a clubhouse, and walking paths. Homes come with extensive included upgrades like energy-efficient appliances and granite countertops, making them appealing for potential buyers.
LGI Homes announces the launch of Spicewood Trails, a new community in Spicewood, Texas, featuring homes on one-acre lots. The community offers five innovative floor plans, ranging from 2,643 to 3,976 square feet, with prices starting in the mid-$700s. The designs incorporate modern amenities like stainless-steel KitchenAid appliances, quartz countertops, and spacious layouts. Spicewood Trails boasts family-friendly amenities including parks and trails, making it an attractive location for potential homeowners. More information is available by contacting LGI Homes.
LGI Homes (NASDAQ: LGIH) announced its return to the Dallas-Fort Worth market with the development of 145 new homes in the Lasater Ranch community in Crowley, Texas. Featuring five popular floor plans ranging from 1,552 to 2,865 sq. ft., each home includes modern upgrades like stainless steel appliances and granite countertops. Prices start in the high-$200s. The community is strategically located near major highways, providing easy access to employment and entertainment. This development aligns with LGI's growth strategy, having closed over 50,000 homes since 2018.
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