LGI Homes (LGIH) Tops Q1 EPS by 8c

LGI Homes (NASDAQ: LGIH) reported Q1 EPS of $0.22, $0.08 better than the analyst estimate of $0.14. Revenue for the quarter came in at $75.9 million versus the consensus estimate of $73.87 million.

Home closings during the first quarter of 2014 increased 91.7% to 485 from 253 during the first quarter of 2013. Active selling communities increased 64.7% to 28 from 17 in the first quarter of last year. During the first quarter of 2014, the Company's Southwest Division successfully expanded into the Tucson, Arizona and Albuquerque, New Mexico markets.

The average home sales price was $156,535 for the first quarter of 2014, an increase of $15,288, or 10.8%, over the first quarter of 2013. This increase was primarily due to an improved pricing environment and a shift in product mix.

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

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