LGI Homes Reports 2024 Annual Home Closings and Sets Date for Fourth Quarter and 2024 Year End Earnings Conference Call

Rhea-AI Summary

LGI Homes (NASDAQ: LGIH) reported its home closings for December 2024 and full year performance. The company achieved 580 home closings in December, contributing to 1,636 total closings in Q4 2024 (including a bulk sale of 103 leased single-family homes in November). For the full year 2024, LGIH completed 6,131 home closings.

The company maintained 151 active selling communities as of December 31, 2024, meeting their guidance targets for both annual home closings and year-end active community count. The company plans to release its Q4 and full-year 2024 financial results before market opening on February 25, 2025, followed by a conference call at 12:30 p.m. Eastern Time.

Positive

• Met guidance targets for full year home closings
• Achieved target for year-end active community count of 151
• Completed bulk sale of 103 leased single-family homes in Q4

Negative

• None.

Insights

Real Estate Market Analyst

The reported 6,131 home closings for 2024, including 1,636 in Q4, demonstrate solid execution in a challenging housing market environment. The 103 bulk sale of leased single-family homes in November indicates strategic portfolio management and revenue diversification. Operating across 151 active selling communities shows substantial geographic diversification and market presence. The December performance of 580 closings suggests strong operational momentum heading into 2025, particularly noteworthy given typical seasonal slowdowns in winter months. The achievement of guidance targets for both closings and community count indicates effective operational planning and execution, though investors should note that absolute closing numbers without comparative year-over-year data or margin information limit full performance assessment. The bulk sale component reflects adaptation to market conditions and could signal strategic positioning in the build-to-rent segment.

Financial Analyst

This preliminary report demonstrates operational resilience with 6,131 total home closings for 2024. The Q4 performance of 1,636 closings represents approximately 26.7% of annual closings, showing balanced quarterly distribution. The bulk sale transaction of 103 units suggests proactive inventory management and revenue stream diversification, potentially positively impacting cash flow and balance sheet metrics. The maintenance of 151 active communities indicates stable operational scale, though growth trajectory remains unclear without comparative data. For a company with a market cap of $2.1 billion, meeting guidance targets provides confidence in management's execution capabilities and forecasting accuracy. However, key financial metrics such as ASP (Average Selling Price), margins and order backlog are notably absent, making comprehensive valuation assessment challenging until the full earnings release in February.

THE WOODLANDS, Texas, Jan. 06, 2025 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced it closed 580 homes in December 2024. As a result, the Company closed a total of 1,636 homes in the fourth quarter, including the bulk sale of 103 leased, single-family homes in November 2024, and a total of 6,131 homes for the full year 2024.

As of December 31, 2024, the Company had 151 active selling communities.

“Our teams across the country delivered a strong finish to the year,” said Eric Lipar, LGI Homes’ Chief Executive Officer and Chairman of the Board. “We closed 580 homes across 151 active communities in December, enabling us to achieve our guidance targets for full year home closings and year-end active community count.”

Mr. Lipar concluded, “We applaud our teams for their strong performance in December and throughout 2024, and we look forward to sharing more details on our full year 2024 results, along with our outlook for 2025, on our earnings call in February.”

Fourth Quarter and Full Year 2024 Earnings Conference Call and Webcast

The Company plans to release financial results for the fourth quarter and full year ended December 31, 2024, before the market opens on Tuesday, February 25, 2025. The Company will hold a conference call at 12:30 p.m. Eastern Time the same day to discuss the results.

A link to the live audio webcast will be provided through the Investor Relations page of the Company's website at www.investor.lgihomes.com under the Events and Presentations section.

An archive of the webcast will be available for replay on the Company's website for one year from the date of the conference call.

About LGI Homes, Inc.

Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. As one of America’s fastest growing companies, LGI Homes has closed over 75,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek’s list of the World’s Most Trustworthy Companies. LGI Homes’ commitment to excellence extends to its more than 1,000 employees, earning the Company numerous workplace awards at the local, state, and national level, including the Top Workplaces USA 2024 Award. For more information about LGI Homes and its unique operating model focused on making the dream of homeownership a reality for families across the nation, please visit the Company’s website at www.lgihomes.com.

CONTACT:
Joshua D. Fattor
Executive Vice President, Investor Relations and Capital Markets
(281) 210-2586
investorrelations@lgihomes.com

FAQ

How many homes did LGIH close in December 2024?

LGI Homes closed 580 homes in December 2024.

What was LGIH's total home closings for Q4 2024?

LGIH closed 1,636 homes in Q4 2024, including a bulk sale of 103 leased single-family homes in November.

How many homes did LGIH close in full year 2024?

LGI Homes closed a total of 6,131 homes for the full year 2024.

How many active selling communities did LGIH have at the end of 2024?

LGIH had 151 active selling communities as of December 31, 2024.

When will LGIH release its Q4 and full year 2024 earnings?

LGIH will release its Q4 and full year 2024 earnings before market opens on Tuesday, February 25, 2025.