LGIH - LGI Homes EPS beats by $1.25 beats on revenue; updates guidance

LGI Homes (LGIH): Q1 GAAP EPS of $3.95 beats by $1.25.Revenue of $705.95M (+55.2% Y/Y) beats by $108.98M.FY2021 guidance: Home closings between 9,700 and 10,300; Active selling communities at the end of 2021 between 112 and 120; Gross margin as a percentage of home sales revenues between 24.7% to 26.7%; Adjusted gross margin (non-GAAP) as a percentage of home sales revenues between 26.5% and 28.5% with capitalized interest accounting for substantially all the difference between gross margin and adjusted gross margin; Average sales price per home closed between $275,000 and $285,000; SG&A as a percentage of home sales revenues between 9.5% and 10.0% and Effective tax rate for the remainder of 2021 between 21.0% and 22.0%.Press Release

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LGI Homes EPS beats by $1.25, beats on revenue; updates guidance