LGI Homes (Nasdaq: LGIH) reported Q4 EPS of $0.75, $0.04 better than the analyst estimate of $0.71. Revenue for the quarter came in at $176.8 million versus the consensus estimate of $178.03 million.

• Home Closings increased 45.1% to 946 homes
• Average Home Sales Price increased 12.4% to $186,855
• Adjusted Gross Margin (non-GAAP) as a Percentage of Home Sales Revenues was 27.6% as compared to 28.9%
• Active Selling Communities at quarter-end increased to 52 from 39

Outlook

Subject to the caveats in the Forward-Looking Statements section of this press release, the Company offers the following guidance for 2016. The Company believes it will have between 62 and 67 active selling communities at the end of 2016, close between 4,000 and 4,400 homes in 2016, and generate basic EPS between $3.00 and $3.50 per share during 2016. In addition, the Company believes 2016 gross margin will be in the range of 26.5% and 28.5% and that the average home sales price in 2016 will be between $190,000 and $200,000. This outlook assumes that general economic conditions, including interest rates, and mortgage availability in 2016 are similar to those in 2015, and that home sales price, construction costs, availability of land, land development costs and overall absorption rates for 2016 are consistent with the Company's recent experience.

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