From GlobeNewswire: 2025-02-25 07:00:00

LGI Homes, Inc. reported strong financial results for Q4 and full year 2024, with 6,131 home closings and a 29.1% increase in active communities. Despite challenges, the company achieved a 24.2% gross margin and 11.8% pre-tax net income margin. For 2025, they project 6,200-7,000 home closings with an average price of $360,000-$370,000.

In Q4 2024, LGI Homes saw a decrease in home sales revenues and closings but an increase in average sales price. Net income before taxes decreased by 2.1% to $67.1 million. For the full year 2024, home sales revenues decreased by 6.6% to $2.2 billion, while gross margin increased to 24.2%.

The company’s balance sheet highlights include a net debt to capitalization ratio of 41.2% and total liquidity of $323.7 million at the end of 2024. LGI Homes remains committed to driving profitability through operational discipline and strategic investments for sustainable success in 2025.

LGI Homes provided guidance for 2025, projecting home closings between 6,200 and 7,000, with active communities expected to be between 160 and 170. The company aims for an average sales price per home closed of $360,000-$370,000 and gross margin between 23.2% and 24.2%.

Adjusted Gross Margin is a key metric for LGI Homes, calculated as gross margin less capitalized interest and purchase accounting adjustments. In Q4 2024, adjusted gross margin percentage was 25.2%, up from 25.1% in Q4 2023. This measure helps evaluate the company’s operating performance accurately.



Read more at GlobeNewswire:: LGI Homes, Inc. Reports Fourth Quarter and Full Year 2024