LGI Homes, Inc. Reports Record First Quarter 2020 Results
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LGI Homes (LGIH) Tops Q1 EPS by 44c, Revenues Beat; Withdraws FY20 Guidance
May 5, 2020 7:21 AM EDTLGI Homes (NASDAQ: LGIH) reported Q1 EPS of $1.67, $0.44 better than the analyst estimate of $1.23. Revenue for the quarter came in at $454.7 million versus the consensus estimate of $432.4 million.
First Quarter 2020 Results and Comparisons to First Quarter 2019
Net Income increased 133.7% to $42.8 million, or $1.69 Basic EPS and $1.67 Diluted EPSNet Income Before Income Taxes increased 153.0% to $54.9 millionHome Sales Revenues increased 58.1% to $454.7 millionHome Closings increased 49.4% to 1,835 homesAverage Home Sales Price increased 5.8% to $247,808Gross Margin as a Percentage of Homes Sales Revenues increased 30 basis points to 23.4%Adjusted Gross Margin... More