LGIH - LGI Homes GAAP EPS of $2.25 beats by $0.44 revenue of $645.27M beats by $7.21M

2023-08-01 07:12:13 ET

• LGI Homes press release ( NASDAQ: LGIH ): Q2 GAAP EPS of $2.25 beats by $0.44 .
• Revenue of $645.27M (-10.8% Y/Y) beats by $7.21M .

• Full Year 2023 Outlook

• Home closings between 6,500 and 7,200

• Active selling communities at the end of 2023 between 115 and 125

• Average sales price per home closed between $345,000 and $360,000

• Gross margin as a percentage of home sales revenues between 21.5% and 23.5%

• Adjusted gross margin (non-GAAP) as a percentage of home sales revenues between 23.0% and 25.0% with capitalized interest being the primary driver of the difference between gross margin and adjusted gross margin

• SG&A as a percentage of home sales revenues between 12.5% and 13.5%

• Effective tax rate between 24.0% and 25.0%

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