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) reported strong financial results for Q4 and the full year 2020. Q4 net income surged 110.3% to $136.4 million, with home sales revenues climbing 48.2% to $897.4 million. Full year net income rose 81.3% to $323.9 million, driven by a 28.8% increase in home sales revenues to $2.4 billion. The average sales price per home closed increased by 6.1% to $253,553, and gross margins improved significantly. The ending backlog of homes increased 140.4% to 2,964 homes, indicating strong demand going into 2021.
LGI Homes has announced the launch of a new residential community, The Arbors, in the Sacramento area. This community features three innovative floor plans ranging from 1,213 to over 1,800 square feet, including one- and two-story options with up to five bedrooms. Homes are designed with modern amenities such as energy-efficient appliances and designer upgrades, starting in the low $300,000s. Conveniently located near major entertainment venues and outdoor recreation, The Arbors aims to attract homebuyers seeking quality living in a desirable location.
LGI Homes, Inc. (NASDAQ: LGIH) reported significant growth with 650 home closings in January 2021, marking a 49.8% increase compared to 434 closings in January 2020. As of the end of January 2021, the company operated 106 active selling communities. With a notable presence across several states, LGI Homes has been recognized as the 10th largest residential builder in the U.S. since 2018, having closed over 45,000 homes in its 17-year history.
LGI Homes, Inc. (NASDAQ: LGIH) will announce its fourth quarter and full year financial results for the period ending December 31, 2020 on February 23, 2021, before market opens. A conference call to discuss these results is scheduled for 12:30 p.m. ET on the same day. Investors can access the call via a link on the company's Investor Relations page or by dialing in. An archived version of the webcast will be available for one year.
LGI Homes has announced the opening of Horizons, a new lakefront community in Birmingham, Alabama, featuring single-family homes priced from the high-$200s. The two-story homes range from 1,259 to 1,767 square feet and include upgrades like granite countertops and energy-efficient appliances. Residents will enjoy exclusive access to community amenities, such as a clubhouse and swimming pool. Tours of the Horizons information center are available by appointment, adhering to CDC guidelines.
LGI Homes (NASDAQ: LGIH) reported record-breaking home closings in December 2020, achieving 1,630 closings, a 54.9% year-over-year increase. The company also closed 3,408 homes in the fourth quarter, a 35.5% rise from the previous year, and a total of 9,339 homes in 2020, surpassing the previous record of 7,690 in 2019 by 21.4%. With 116 active selling communities as of December, LGI anticipates home closings between 9,200 and 9,800 for 2021, contingent on stable economic conditions and no adverse impacts from COVID-19 restrictions.
LGI Homes launched a redesigned website aiming to enhance user experience and meet evolving digital expectations. The site offers interactive elements, stunning visuals, and easy navigation to facilitate home searches across more than 100 LGI communities nationwide. According to Rachel Eaton, Chief Marketing Officer, the goal is to deliver an industry-leading experience tailored to customer needs. This initiative underscores LGI's commitment to improving homebuyer engagement and facilitating the journey to homeownership.
LGI Homes has launched a new website, LGIHomesActiveAdult.com, dedicated to promoting its active adult communities. This user-friendly site features detailed information on amenities and lifestyle options available in LGI Homes' age-restricted communities. Currently, it highlights four premier locations across the U.S., including the Summit at Liberty in California. Since 2018, LGI Homes has ranked as the 10th largest residential builder in the U.S., with over 40,000 homes closed over 17 years.
LGI Homes, Inc. announced record home closings for November 2020, achieving 960 closings, a significant increase of 28.3% from November 2019. The company reported a total of 7,709 closings in the first eleven months of 2020, representing a 16.1% year-over-year growth. With 114 active selling communities, LGI is adjusting its full-year guidance to predict 8,800 to 9,200 homes closed by year-end. CEO Eric Lipar noted strong demand for affordable homes, although future results may be impacted by economic conditions and COVID-19 regulations.
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