LGI Homes (LGIH) Tops Q3 EPS by 5c, Revenues Beat; Offers FY18 EPS Outlook Above Consensus
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LGI Homes, Inc. Reports Third Quarter and YTD 2018 Results
November 6, 2018 7:00 AM ESTTHE WOODLANDS, Texas, Nov. 06, 2018 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (Nasdaq: LGIH) today announced results for the third quarter 2018 and the nine months ended September 30, 2018.
Third Quarter 2018 Results and Comparisons to Third Quarter 2017
Net Income increased 12.0% to $37.7 million, or $1.66 Basic EPS and $1.52 Diluted EPSNet Income Before Income Taxes increased 3.7% to $49.0 millionHome Sales Revenues increased 4.0% to $380.4 millionHome Closings decreased 7.4% to 1,601 homesAverage Home Sales Price increased 12.3% to $237,582Gross Margin as a Percentage of Homes Sales Revenues was 25.6% as compared... More