LGI Homes, Inc. Reports Third Quarter and YTD 2019 Results and Updates 2019 Guidance
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LGI Homes (LGIH) Tops Q3 EPS by 5c, Revenues Miss; Offers FY19 EPS Guidance Above Consensus
November 5, 2019 7:18 AM ESTLGI Homes (NASDAQ: LGIH) reported Q3 EPS of $1.93, $0.05 better than the analyst estimate of $1.88. Revenue for the quarter came in at $483.08 million versus the consensus estimate of $486.82 million.
Third Quarter 2019 Results and Comparisons to Third Quarter 2018
Net Income of $49.3 million, or $2.15 Basic EPS and $1.93 Diluted EPSNet Income Before Income Taxes increased 32.1% to $64.7 millionHome Sales Revenues increased 27.0% to $483.1 millionHome Closings increased 25.1% to 2,003Average Home Sales Price increased 1.5% to $241,179Gross Margin as a Percentage of Homes Sales Revenues was 24.1%Adjusted Gross Margin (non-GAAP) as a Percentage of Home Sales Revenues... More