LGI Homes, Inc. Reports Record Second Quarter and YTD 2020 Results
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LGI Homes (LGIH) Tops Q2 EPS by 64c, Revenues Beat; Provides FY20 Guidance
August 4, 2020 7:05 AM EDTLGI Homes (NASDAQ: LGIH) reported Q2 EPS of $2.21, $0.64 better than the analyst estimate of $1.57. Revenue for the quarter came in at $481.6 million versus the consensus estimate of $464.57 million.
Second Quarter 2020 Highlights and Comparisons to Second Quarter 2019
Net Income increased 20.8% to $55.6 million, or $2.22 Basic EPS and $2.21 Diluted EPSNet Income Before Income Taxes increased 13.3% to $68.6 millionHome Sales Revenues increased 4.3% to $481.6 millionHome Closings increased 3.1% to 2,005 homesAverage Home Sales Price increased 1.1% to $240,200Gross Margin as a Percentage of Homes Sales Revenues increased 40 basis points to 24.5%Adjusted Gross Margin... More