LGI Homes (NASDAQ: LGIH) reported Q2 EPS of $5.20, $0.90 better than the analyst estimate of $4.30. Revenue for the quarter came in at $723.1 million versus the consensus estimate of $725.34 million.

GUIDANCE:

Full Year 2022 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 2022. The Company now believes:

• Home closings between 7,500 and 8,300

• Average sales price per home closed between $345,000 and $360,00

• Gross margin as a percentage of home sales revenue between 27.0% and 29.0%

• Adjusted gross margin (non-GAAP) as a percentage of home sales revenue between 28.5% and 30.5% with capitalized interest accounting for substantially all the difference between gross margin and adjusted gross margin as a percentage of home sales revenue

• SG&A as a percentage of home sales revenue between 10.0% and 11.0%

• Effective tax rate between 23.5% and 24.5%

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