LGI Homes (LGIH) Tops Q1 EPS by $1.45

LGI Homes (NASDAQ: LGIH) reported Q1 EPS of $3.95, $1.45 better than the analyst estimate of $2.50. Revenue for the quarter came in at $706 million versus the consensus estimate of $598.55 million.

Full Year 2021 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 2021. The Company believes:

• Home closings between 9,700 and 10,300
• Active selling communities at the end of 2021 between 112 and 120
• Gross margin as a percentage of home sales revenues between 24.7% to 26.7%
• Adjusted gross margin (non-GAAP) as a percentage of home sales revenues between 26.5% and 28.5% with capitalized interest accounting for substantially all the difference between gross margin and adjusted gross margin
• Average sales price per home closed between $275,000 and $285,000
• SG&A as a percentage of home sales revenues between 9.5% and 10.0%
• Effective tax rate for the remainder of 2021 between 21.0% and 22.0%

For earnings history and earnings-related data on LGI Homes (LGIH) click here.

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