MARKET COMPOSITE
LGIH - LGI Homes Inc8:00:00 PM 5/7/2024
Price
$98.25
+ 0.56 (0.57%)
LGI Homes is a Texas-based builder of new construction homes and housing developments, with its development projects mostly focused in the southwestern region of the United States. According to Builder Magazine, LGI Homes is the 10th largest home builder in the United States. 2013, the company announced the pricing of its initial public offering: 9,000,000 shares at $11 per share. 2019, LGI Homes closed 7,690 homes, which was an 18.1% increase over 2018. Home sales revenue in 2019 was $1.8 billion, a 22.2% increase over 2018. LGI Homes was founded in 2003 in The Woodlands, Texas by Thomas Lipar and began building in the Houston area. LGI Homes focuses on entry-level housing in the vicinity of major metropolitan areas. Its primary customer is the first-time homebuyer. The company saw sales trend upward from 2006 to 2008, when it was the only builder in the Builder Magazine Top-200 builders to generate unit sales and see revenue growth across that period. The company's growth slowed in 2009, when LGI Homes experienced a 9% drop in home sales, year-over-year.
Financials
Quarterly financials
(USD)Mar 2024Q/Q
Revenue390.9MM-36%
Gross Profit91.4MM-
Cost Of Revenue299.4MM-36%
Operating Income18.7MM-69%
Operating Expenses72.7MM-
Net Income17.1MM-67%
G&A31.5MM-4%
Interest Expense0-
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