📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

LGI Homes, Inc. engages in the design, construction, and sale of new 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 through bulk sales agreements. 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.

Key Ratios Snapshot

📈 Growth Pattern

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📊 Quick Scorecard

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⭐ Superinvestors Holding LGIH

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	93.4K	$3.7M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

📊 MIXED LGI Homes delivered 916 homes in Q1 2026 with revenue of $320M and gross margin 20.2%.

Revenue & Profitability

First quarter 2026 revenue was $319.7 million, down 9% year-over-year due to an 11.5% decline in closings, partially offset by a 2.9% increase in average selling price to approximately $363,000. Net income was $2.2 million ($0.09 per share), or $5.6 million ($0.24 per share) excluding impairment charges. Adjusted EBITDA increased 30% to $24.4 million, representing 7.6% of revenue.

Outlook

Management expressed confidence in long-term housing fundamentals, citing persistent undersupply of attainable housing and favorable demographic trends. However, near-term headwinds include affordability challenges, volatile interest rates, geopolitical uncertainty, and consumer confidence concerns. Despite an uptick in rates late in the quarter, buyer engagement remained healthy, suggesting many buyers focus on value and available affordability tools.

Growth Drivers

Growth is driven by disciplined execution across markets, with sales activity improving through the first quarter. The Terrata brand, representing about 10% of community count (15 communities), is gaining traction for move-up buyers. The wholesale channel contributed 12.6% of closings in Q1, with a backlog of over 400 wholesale units at quarter end. Backlog reached 1,699 homes, a 63% year-over-year increase and the highest since Q1 2022.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

First quarter GAAP gross margin was 18.7% (20.2% excluding impairment), above the high end of initial full-year guidance. Adjusted gross margin was 23.4%, up 110 basis points sequentially. Full-year gross margin guidance was raised to 18.5%-20.5% and adjusted gross margin to 22%-24%. SG&A expense was 18.9% of revenue, a 200 basis point improvement year-over-year, reflecting advertising efficiencies.

Key Risks

Management highlighted elevated cancellation rates (45.6% in Q1) driven by buyers unable to qualify for financing. Other risks include affordability challenges, volatile interest rates, geopolitical uncertainty, and consumer confidence headwinds. The company is managing these by working with customers on down payments and credit improvement, and by maintaining a conservative financial approach.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-04

Q2 2026 saw 9% growth in home deliveries and a 4% revenue increase, with gross margins and ASP both exceeding guidance. Debt and lot positions were reduced, backlog and liquidity improved, and full-year guidance for closings, ASP, and margins was raised.

Q1 2026 Q1 2026 2026-04-28

Q1 2026 saw steady demand, a 3% rise in ASP, and strong backlog growth, with gross margin and adjusted EBITDA both improving. Full-year guidance was raised for margins, and liquidity and balance sheet strength remain solid.

Q4 2025 Q4 2025 2026-02-17

Q4 saw strong sequential revenue growth and a record backlog, but margins declined due to incentives and discounts amid affordability pressures. 2026 guidance anticipates stable sales pace, continued use of incentives, and wholesale closings at 10–15% of total.

Q3 2025 Q3 2025 2025-11-04

Q3 revenue fell 39% year-over-year on lower closings, but margins and net orders improved sequentially. Backlog and sales momentum increased, aided by competitive financing and incentives, with Q4 closings expected to rise 26% at midpoint.

Q2 2025 Q2 2025 2025-08-05

Q2 2025 saw lower revenue and closings due to affordability pressures, but profitability was maintained through incentives and operational efficiency. Guidance for Q3 anticipates 1,100–1,300 closings and slightly lower margins, with a focus on deleveraging and inventory management.

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