LGIH Research | Milton Maxwell

LGIH

LGI Homes, Inc.

47.73

-0.50-1.04%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

No earnings call transcript available

Key Stats

Market Cap

1.10B

P/E (TTM)

10.56

Basic EPS (TTM)

4.52

Dividend Yield

Recent Filings

10-Q

Q3 FY2025 results

11/4/25Nov 4, 2025

LGI Homes posted Q3 revenue of $396.6M, down 39.2% y/y from $651.9M, with home closings dropping 39.4% to 1,065 units amid affordability headwinds, yet average sales price edged up 0.4% to $372K. Gross margin slipped to 21.5% from 25.1%, pressured by higher lot costs and overhead, while operating income fell 73.2% to $21.5M and diluted EPS declined to $0.85 from $2.95, reconciling cleanly with 23.1M weighted shares. YTD revenue through September 30, 2025, totaled $1.23B, off 25.1% y/y, with net income at $55.2M versus $145.2M last year. Cash stood at $62M, bolstered by $368M revolver availability against $1.75B total debt including $400M each in 8.75% notes due 2028 and 7% notes due 2032; free cash flow not disclosed in the 10-Q. Non-GAAP metrics like adjusted gross margin (24.5%) are defined and reconciled. Elevated mortgage rates continue to challenge demand.

8-K

Q3 results show revenue dip

11/4/25Nov 4, 2025

LGI Homes reported third-quarter 2025 results with home sales revenue of $396.6 million, down from $651.9 million last year, after closing 1,065 homes at an average price of $372,424. Gross margin held at 21.5%, while adjusted gross margin reached 24.5%, reflecting disciplined inventory management amid softer demand. Backlog surged 19.9% year-over-year to 1,305 homes valued at $498.7 million. Momentum builds.

8-K

LGI Homes Q2 earnings dip

8/5/25Aug 5, 2025

LGI Homes reported Q2 2025 results with $483.5 million in home sales revenue from 1,323 closings at an average $365,446 price, down from last year's pace amid affordability pressures from high interest rates. Gross margin rose to 22.9%, adjusted gross margin to 25.5%, while net income hit $31.5 million or $1.36 per share; the company repurchased $20.6 million in shares. Backlog shrank to 808 homes valued at $322.5 million, yet recent trends signal Q3 improvement. It withdrew full-year guidance due to spec model uncertainties. Demand persists, but economic headwinds linger.

10-Q

Q2 FY2025 results

8/5/25Aug 5, 2025

LGI Homes posted Q2 revenue of $483.5M, down 19.8% y/y from $602.5M amid high mortgage rates curbing demand, with home closings falling 20.1% to 1,323 units while average sales price edged up 0.4% to $365,446. Gross margin slipped to 22.9% from 25.0%, pressured by more wholesale sales and higher lot costs, yet operating income held at $39.6M and diluted EPS came in at $1.36, down from $2.48. Southeast division led with 31% of revenues, up 10.8% y/y, while Central dropped 34.9%. Cash stood at $59.6M, total debt rose to $1.74B including $662.6M under the revolving facility (SOFR +1.85%, $263M available), and free cash flow wasn't disclosed in the 10-Q. An August 1 amendment eased covenants through 2026 but paused dividends and buybacks. Elevated rates remain a drag on affordability.

10-Q

Q1 2025 results

4/30/25Apr 30, 2025

LGI Homes, Inc. reported Q1 2025 results with home sales revenues of $351.4 million, down 10.1% year-over-year due to an 8.0% drop in closings to 996 homes and a 2.2% decrease in average sales price to $352,831. Gross margin fell to 21.0% from 23.4%, reflecting lower ASPs, higher wholesale closings, increased lot costs, and sales incentives. Net income dropped 76.6% to $4.0 million, or $0.17 per diluted share, from $17.1 million, or $0.72 per diluted share. The company maintained 146 active communities, up from 120, with a backlog of 1,040 homes valued at $406.2 million. Liquidity stood at $57.6 million in cash and $302.4 million available under the credit facility. The borrowing base was $2.0 billion, supporting maximum loan availability. No non-GAAP metrics were disclosed in the 10-Q.

About

LGI Homes, Inc. engages in the design, construction, and sale of homes in the United States. It markets and sells attached and detached entry-level homes and active adult offerings under the LGI Homes brand; and luxury homes under the Terrata Homes brand. The company also engages in the wholesale business, which includes building and selling homes to large institutions interested in acquiring single-family rental properties. It operates in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, Nevada, West Virginia, Virginia, Pennsylvania, Maryland, and Utah. LGI Homes, Inc. was founded in 2003 and is headquartered in The Woodlands, Texas.

CEO

Mr. Eric Thomas Lipar

IPO

11/7/2013

Website

https://www.lgihomes.com

Employees

1,170

Sector

Consumer Cyclical

Industry

Residential Construction