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. (NASDAQ: LGIH) has launched Heritage Gardens in Tacoma, Washington, offering affordable new construction homes with eco-friendly features. The community provides a variety of townhome and single-family options, with spacious floor plans and modern amenities. LGI Homes is the first to introduce 'Built Green' certified homes in Tacoma, focusing on energy efficiency and eco-friendly living. The homes include designer-selected features like Whirlpool® appliances, granite countertops, and energy-saving upgrades. Heritage Gardens residents have access to a neighborhood park, community garden, and nearby entertainment venues. Homes start from the $420s, showcasing a commitment to quality and sustainability.
LGI Homes, Inc. reported strong financial results for Q1 2024, with home sales revenues of $390.9 million, gross margin of 23.4%, and net income of $17.1 million. The company repurchased 89,227 shares of common stock and had total liquidity of $491.5 million. LGI Homes experienced positive lead and sales trends, expanded communities, and maintained margins during the quarter. With a record 120 active communities and strong demand, the company is well-positioned to meet its guidance expectations for 2024.
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