Lgi Homes Inc Stock Price, News & Analysis

LGI Homes (NASDAQ: LGIH) announced the closing of 506 homes in February 2023, demonstrating continued growth in the housing market. As of February 28, 2023, the company operates 97 active selling communities across 20 states. With a strong legacy of over 50,000 homes closed and consistent profitability for more than 19 years, LGI Homes ranks as the 10th largest residential builder in the U.S. The firm is recognized for quality construction and exceptional customer service, with accolades including the 2022 Cultural Excellence Award from Top Workplaces USA.

LGI Homes has announced its collaboration with Habitat for Humanity of Montgomery County, TX, to construct four homes for deserving families in Conroe, TX, from February 27 to March 4, 2023. This initiative, known as the Blitz Build, involves a 24-hour-a-day schedule to complete the homes rapidly. Trade partners are donating materials and expertise, showcasing LGI's commitment to affordable housing. CFO Charles Merdian emphasized the project's significance in fostering community empowerment and homeownership. This marks a new chapter in the last section of the Cedar Creek subdivision, addressing urgent housing needs and transforming lives.

LGI Homes has officially launched its newest community, Ridgeview, located in Youngtown, Phoenix, with new single-family homes starting in the $360s. This community features a variety of spacious floor plans ranging from three to five bedrooms, equipped with the popular CompleteHome Plus™ package, including stainless steel appliances and granite countertops. Ridgeview is strategically situated near major highways, local amenities, and entertainment options like State Farm Stadium. With a history of over 50,000 homes closed and consistent profitability for the past 19 years, LGI Homes continues to be a major player in the homebuilding industry.

LGI Homes reported strong financial results for Q4 and the full year ending December 31, 2022. The company closed 1,448 homes in Q4, totaling 6,621 homes for the year. Revenue reached $2.3 billion with record profitability metrics: gross margin of 28.1% and net income of $326.6 million, although net income decreased by 24% year-over-year. Inventory was reduced by 21.7%, and the ending backlog of homes decreased by 65.8%. The company repurchased 892,916 shares in 2022 and maintained a robust balance sheet with a net debt-to-capitalization ratio at 39.8%. LGI enters 2023 with positive sales trends but cautious about rising mortgage rates.

LGI Homes (NASDAQ: LGIH) has announced its expansion into the Tampa area with the launch of Royal Highlands in Weeki Wachee, FL. The new community offers five floor plans ranging from 1,270 to 1,984 square feet, featuring one-story homes with modern kitchens, large family rooms, and designer upgrades included in the CompleteHome™ package. Homes are priced from the $280s. Royal Highlands is conveniently located near major employers and attractions such as Weeki Wachee Springs State Park. LGI Homes, recognized as the 10th largest residential builder in the U.S., emphasizes affordable housing solutions while maintaining a commitment to quality and customer service.

LGI Homes, Inc. (NASDAQ: LGIH) reported the closure of 331 homes in January 2023, continuing its growth in the homebuilding industry. As of January 31, 2023, the company operates 97 active selling communities across 35 markets in 20 states. Over its 19-year history, LGI Homes has successfully closed more than 50,000 homes and maintained profitability each year. Recognized as one of the fastest-growing homebuilders, LGI Homes is the 10th largest residential builder in the U.S. based on units closed. The company's commitment to quality construction and customer service has earned it multiple awards, including the Top Workplaces USA’s 2022 Cultural Excellence Award.