Welcome to our dedicated page for Lgi Homes news (Ticker: LGIH), a resource for investors and traders seeking the latest updates and insights on Lgi Homes stock.
LGI Homes Inc (LGIH) delivers essential updates for stakeholders tracking this innovative homebuilder's progress in affordable residential construction. This centralized resource aggregates official press releases, regulatory filings, and market-moving developments related to LGIH's strategic operations across 7 U.S. regions.
Investors and analysts will find timely information on quarterly earnings, land acquisition strategies, and community development initiatives. The curated collection emphasizes LGIH's core operational strengths – controlled land development processes, cost-efficient construction models, and targeted market expansion.
Content spans critical business areas including new community launches, operational milestones, leadership updates, and sustainability initiatives. Each entry maintains factual reporting aligned with SEC compliance standards, providing reliable data for investment research and market analysis.
Bookmark this page for streamlined access to LGIH's evolving corporate narrative within the competitive homebuilding sector. Regular updates ensure stakeholders remain informed about the company's progress in delivering affordable, amenity-rich housing solutions nationwide.
LGI Homes, Inc. (NASDAQ: LGIH) announces the grand opening of Meadows North, a new single-family home community in North Branch, Minnesota. The community features seven floor plans priced from the $330s, with homes ranging from 1,370 to 1,797 square feet. Residents will enjoy modern amenities, including chef-ready kitchens and luxury flooring, access to a new city park, and proximity to local attractions and shopping. LGI aims to construct 120 homes in Phase I, with quick move-in options available.
LGI Homes (NASDAQ: LGIH) has launched a new community named Skyline in Las Vegas, priced from the $300s. This development features spacious two-story homes with two-car garages and numerous upgrades. Located in Henderson, the community offers easy access to parks, shopping, and dining, catering to homebuyers looking for tranquility near city amenities. Each home includes the CompleteHome™ package, designed for modern living, with smart technology and luxury finishes.
LGI Homes (Nasdaq: LGIH) announced the opening of its new community, Creedmore Hills, in Charlotte, NC, located off I-485 and close to downtown and the international airport. The community features five floor plans of two-story single-family homes, ranging from 1,434 to 2,201 square feet, with prices starting from the high-$200s. Each home includes the CompleteHome™ package with energy-efficient appliances and modern designs. This expansion highlights LGI's commitment to providing affordable, high-quality homes for buyers in a prime location.
LGI Homes announced the appointment of Shailee Parikh as an independent director to its Board, effective December 31, 2021. Currently serving as Global Head of Strategy and Solution Development for Health Solutions at Aon, Parikh brings extensive experience in corporate strategy, operations, and finance. Her prior roles include CFO of EMEA at Aon Hewitt and various positions at Reunion Bank of Florida and Morgan Stanley. CEO Eric Lipar expressed enthusiasm over her diverse expertise, which will enhance the Board's perspectives. LGI Homes has a strong track record, having closed over 50,000 homes and ranked 10th in residential building.
LGI Homes, Inc. (NASDAQ: LGIH) reported a significant increase in home closings, with 797 homes sold in November 2021. The total for the first eleven months reached 9,438 closings, marking a 22.4% rise from 7,709 closings in the same period last year. Currently, LGI Homes operates 104 active selling communities across 35 markets in 19 states. With over 50,000 homes closed since its inception and consistent profitability, LGI Homes is ranked among the top residential builders in the U.S.
LGI Homes (NASDAQ: LGIH) has unveiled its latest community, Stone Crest Estate, located in Fairburn, Atlanta. Homes start from the low $300,000s, with properties ranging from 1,938 to 2,626 square feet. Each home features upgraded amenities, including Whirlpool appliances, quartz countertops, and energy-efficient designs. The community offers easy access to major employers and the Atlanta airport, making it ideal for families seeking quality living spaces. LGI Homes continues to expand its footprint, having built over 50,000 homes since its inception.
LGI Mortgage Solutions, a joint venture between loanDepot and LGI Homes, is launching full-service residential mortgage solutions in Arizona, Colorado, and Florida. The venture plans to expand into ten additional states, including Georgia and Tennessee, by Q1 2022. This initiative aims to streamline the home financing process for LGI Homes' customers, enhancing loanDepot's position in the mortgage market. The partnership emphasizes customer service and aims to deliver competitive rates and a transparent lending experience, backed by the reputations of both companies.
LGI Homes (NASDAQ: LGIH) reported a total of 725 home closings in October 2021, a decrease from 818 in October 2020. However, the company achieved a notable 28% increase in home closings over the first ten months of 2021, totaling 8,641 compared to 6,749 in the same period last year. As of October 31, 2021, LGI Homes operated 106 active selling communities. The company continues to be recognized as a leader in the homebuilding industry, known for its commitment to quality and customer service.
LGI Homes reported a strong financial performance for Q3 2021, with net income increasing by 13% to $100.6 million, translating to diluted EPS of $4.05. Home sales revenues surged 40.7% to $751.6 million, alongside a 19.5% rise in home closings, totaling 2,499 homes. Average sales price per home closed rose by 17.7% to $300,764. For the nine months ended September 30, 2021, net income reached $318.3 million, a 69.8% increase, with home sales revenues up 52.9% to $2.2 billion. The company anticipates closing between 10,000 and 10,500 homes by year-end, with a tightened gross margin forecast.
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