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 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.
LGI Homes (NASDAQ: LGIH) announced the acquisition of Buffington Homebuilding Group for approximately $40 million in cash. This strategic move enhances LGI's land holdings in Central Texas, aligning with its goal to become a top five national homebuilder. The acquisition includes over 100 homes under construction and 350 finished lots, along with control of 150 more finished lots. LGI aims to introduce its luxury Terrata Homes brand in Austin, leveraging Buffington's established reputation in eco-friendly, smart homes.
LGI Homes reported impressive growth in home closings for June 2021, achieving 997 closed homes, a 31.2% increase from June 2020. The company also set a new quarterly record with 2,856 closings in Q2 2021, reflecting a 42.4% year-over-year increase. Year-to-date, 5,417 homes have been closed, marking a 41.1% rise compared to the same period in 2020. As of June 30, 2021, LGI Homes operated 106 active selling communities. Financial results for Q2 2021 will be announced on August 3, 2021.
LGI Homes (NASDAQ: LGIH) has announced the grand opening of Cedar Hill Estates in Stanwood, Washington, featuring 78 new homes priced starting from the $500s. This community offers a mix of single-family homes and townhomes with floor plans ranging from 1,360 to 2,600 square feet. Cedar Hill Estates boasts proximity to major employers like Boeing and attractions such as Kayak Regional County Park. Each home includes modern amenities such as stainless steel appliances, granite countertops, and a private park for residents.
LGI Homes (NASDAQ: LGIH) has successfully closed its 50,000th home, marking a significant milestone since its inception in 2003. The company, operating in 35 markets across 19 states, specializes in affordable, quality homes. CEO Eric Lipar highlighted the commitment to customer satisfaction and operational efficiency as key to this growth. LGI’s innovations include the CompleteHome™ and CompleteHome Plus™ packages that offer premium upgrades. The company aims to become a top 5 homebuilder, driven by a focus on first-time buyers and energy-efficient features.
LGI Homes (NASDAQ: LGIH) has partnered with Modsy, an online interior design service, to enhance user experiences on LGIHomes.com. This collaboration introduces immersive 360° Looks, allowing potential buyers to virtually explore LGI's floor plans and visualize home designs. Rachel Eaton, LGI's CMO, emphasized the initiative's focus on delivering industry-leading experiences tailored to specific buyer demographics. Available in select markets, these virtual renderings aim to showcase LGI's spacious layouts and included upgrades, such as modern finishes and appliances.
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