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LGI Homes Tops Q2 EPS by 90c

Published 02/08/2022, 12:26
LGIH
-1.55%

LGI Homes (NASDAQ:LGIH) reported Q2 EPS of $5.20, $0.90 better than the analyst estimate of $4.30. Revenue for the quarter came in at $723.1 million versus the consensus estimate of $725.34 million.

GUIDANCE:

Full Year 2022 Outlook

Subject to the caveats in the Forward-Looking Statements section of this press release, the Company is providing the following updates to its guidance for the full year 2022. The Company now believes:

  • Home closings between 7,500 and 8,300

  • Average sales price per home closed between $345,000 and $360,00

  • Gross margin as a percentage of home sales revenue between 27.0% and 29.0%

  • Adjusted gross margin (non-GAAP) as a percentage of home sales revenue between 28.5% and 30.5% with capitalized interest accounting for substantially all the difference between gross margin and adjusted gross margin as a percentage of home sales revenue

  • SG&A as a percentage of home sales revenue between 10.0% and 11.0%

  • Effective tax rate between 23.5% and 24.5%

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