Lgi Homes Inc - LGIH STOCK NEWS

LGI Homes has launched its new community, The Tate Reserve, in the Atlanta market, offering luxury homes starting in the $530s. This community features spacious layouts, high-end finishes, and exclusive home designs ranging from 1,883 to 3,656 square feet. Residents can enjoy a 25-acre nature preserve, a clubhouse, and nearby recreational activities. LGI Homes, recognized for its consistent profitability and customer service, continues to expand its footprint across 35 markets. The company has successfully closed over 50,000 homes in its 19-year history.

LGI Homes (NASDAQ: LGIH) reported the closing of 469 homes in July 2022, showcasing a strong performance in the residential market. As of the end of July, the company maintained 93 active selling communities across 20 states, validating its expansive reach and operational capacity. With a legacy of over 50,000 homes closed and consistent profitability since its inception, LGI Homes is ranked as the 10th largest residential builder in the U.S. The company's commitment to quality and customer service has earned it multiple workplace awards.

LGI Homes reported its Q2 2022 results, with net income rising 4.4% to $123.4 million, equating to $5.24 per share. However, home sales revenues fell 8.6% to $723.1 million, and home closings decreased by 29.0%, totaling 2,027. The average sales price increased 28.7% to $356,719, while gross margins improved significantly. For the first half of 2022, net income dropped 7.2% to $202.1 million, amid a 15.2% decline in home sales revenues to $1.3 billion. The company updated its full-year guidance, expecting home closings between 7,500 and 8,300.

LGI Homes announced the launch of Colonial Crossing, a new community in Charlotte, NC, expanding its market presence. This development offers a variety of affordable single-family homes ranging from 1,601 to 2,805 square feet, with prices starting from the low-$300s. The community features amenities such as grilling pavilions and nature trails and is strategically located near shopping and outdoor activities at Lake Norman. LGI Homes continues to prioritize quality construction and customer satisfaction, bolstering its reputation in the homebuilding sector.

LGI Homes has announced the grand opening of Gilman Walk, a new community in Arlington, Washington, featuring 115 townhomes near a conservation area along the Stillaguamish River. The community offers easy access to major employment centers, local shops, and outdoor activities. Three new floor plans range from 1,300 to 1,700 square feet, priced from the $460s, with upscale features included. This initiative enhances LGI's presence in the market, providing affordable housing options while supporting local amenities and scenic views.

LGI Homes closed 627 homes in June 2022, contributing to a total of 2,027 homes closed during the second quarter. By June 30, 2022, the company operated 92 active selling communities. Financial results for Q2 2022 will be released on August 2, 2022, with a conference call scheduled for 12:30 p.m. ET the same day. LGI Homes, headquartered in The Woodlands, Texas, ranks as the 10th largest residential builder in the U.S. since 2018, having closed over 50,000 homes in its 19 years of operation.