LGI Homes (LGIH) Tops Q3 EPS by 1c

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LGI Homes, Inc. Reports Third Quarter and YTD 2016 Results

November 8, 2016 7:00 AM EST

THE WOODLANDS, Texas, Nov. 08, 2016 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (Nasdaq: LGIH) today announced results for the third quarter 2016 and the nine months ended September 30, 2016.

Third Quarter 2016 Highlights and Comparisons to Third Quarter 2015

Net Income of $19.5 million, or $0.92 Basic EPS and $0.86 Diluted EPSNet Income Before Income Taxes increased 27.0% to $29.5 millionHome Closings increased 12.6% to 1,052 homesHome Sales Revenues increased 24.3% to $216.3 millionAverage Home Sales Price increased 10.4% to $205,613Gross Margin as a Percentage of Home Sales Revenues was 26.3% as compared to... More