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, Inc. has launched Shaw Creek Ranch, a new residential community in Ferris, Texas, with homes starting in the mid-$200s. This community features five popular floor plans, ranging from 1,379 to over 2,500 square feet, including three- and four-bedroom options. Residents will enjoy amenities like a community park, quick access to schools, shopping, and dining, and energy-efficient home features. The information center is open for tours by appointment, adhering to safety guidelines.
LGI Homes (NASDAQ: LGIH) has acquired KenRoe, Inc. for approximately $27 million. This acquisition includes 85 homes under construction, 130 finished lots, and control of 2,500 raw, undeveloped lots in the Minneapolis market. Eric Lipar, CEO of LGI Homes, emphasized the strategic importance of this purchase, highlighting its role in expanding operations and geographic presence. KenRoe's expertise in building entry-level homes complements LGI's portfolio, aiming for continued growth in a flourishing market.
LGI Homes (NASDAQ: LGIH) reported strong growth in home closings, achieving 948 homes in April 2021, a 56.7% increase from 605 homes in April 2020. The company also closed 3,509 homes in the first four months of 2021, marking a 43.8% rise compared to 2,440 homes in the same period last year. As of April 30, 2021, LGI Homes operated 105 active selling communities. Established in 2003, the company is ranked 10th among residential builders in the U.S. based on units closed.
LGI Homes reported a record-breaking first quarter for 2021, with net income soaring 132.6% to $99.7 million, or $3.99 per share. Home sales revenues rose 55.2% to $706 million, and home closings increased 39.6% to 2,561 homes. The company noted a significant increase in its backlog, reaching 5,632 homes valued at $1.6 billion, up 199.7% year-over-year. Gross margin improved to 26.9%, while adjusted gross margin increased to 28.5%. The firm is optimistic about future growth, raising its full year guidance for home closings and gross margin expectations.
LGI Homes (NASDAQ: LGIH) has announced the opening of its new community, Harrison Cove, in Hampstead, North Carolina. This community offers single-family homes ranging from 1,317 to 2,358 square feet, with prices starting in the $260s. Homes feature modern designs, open layouts, and the CompleteHome™ package, which includes energy-efficient appliances and high-quality finishes. Buyers can visit the information center by appointment, adhering to CDC guidelines. LGI Homes is recognized as one of the top residential builders in the U.S., with over 45,000 homes closed.
LGI Homes announced two new residential communities in the greater Phoenix area: Mission Ranch in Casa Grande and Sunrise Estates in Florence. Mission Ranch offers three to five-bedroom homes starting in the high-$200s, featuring spacious backyards and various amenities. Sunrise Estates provides three to four-bedroom homes ranging from 1,154 to 2,173 square feet, starting in the low-$200s, with open layouts and modern features. Both communities include LGI’s CompleteHome™ package, enhancing home design and functionality.
LGI Homes (NASDAQ: LGIH) has announced the opening of Hidden Creek, a new residential community located in Frederick, north of Denver. The community features an array of amenities, offering homeowners mountain views and extensive outdoor trails. Homes range from 1,465 to 2,684 square feet, with three to five bedrooms and prices starting in the $430,000s. Frederick is recognized for its exceptional schools and vibrant community events, making it an appealing choice for homebuyers.
LGI Homes announced the grand opening of Pony Lake, featuring 39 single-family homes located in Pierce County, Washington. Priced starting in the low-$500s, homes range from approximately 1,500 to 2,400 square feet and include LGI’s CompleteHome™ suite of upgrades. The community offers convenient access to major employers like Boeing and Amazon and includes amenities such as a private park. LGI Homes is recognized as the 10th largest residential builder in the U.S. based on closed units since 2018.
LGI Homes, Inc. (NASDAQ: LGIH) reported a substantial increase in home closings, achieving 1,147 homes in March 2021, a 44.3% rise from 795 homes in March 2020. The company also reached a record quarterly total of 2,561 home closings for Q1 2021, up 39.6% from 1,835 in Q1 2020. As of March 31, 2021, LGI Homes operated 110 active selling communities. Financial results for Q1 will be released on May 4, 2021, accompanied by a conference call at 12:30 p.m. Eastern Time.
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