LGI Homes (NASDAQ: LGIH) reported Q3 EPS of $2.47, $0.32 better than the analyst estimate of $2.15. Revenue for the quarter came in at $534.2 million versus the consensus estimate of $515.24 million.

Outlook

Subject to the caveats in the Forward-Looking Statements section of this press release, the Company updates its guidance for the full year 2020. The Company believes:

• Home closings between 8,400 and 9,000
• Active selling communities at the end of 2020 between 115 and 120
• Gross margin as a percentage of home sales revenues between 24.0% and 25.0%
• Adjusted gross margin (non-GAAP) as a percentage of home sales revenues between 26.0% and 27.0% with capitalized interest accounting for substantially all the difference between gross margin and adjusted gross margin
• Average sales price per home closed between $245,000 and $255,000
• SG&A as a percentage of home sales revenues between 10.3% and 10.8%
• Effective tax rate for 2020 between 10.0% and 12.0%

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