LGIH - LGI Homes Non-GAAP EPS of $1.45 misses by $0.23 revenue of $488.26M misses by $42.43M
- LGI Homes press release ( NASDAQ: LGIH ): Q4 Non-GAAP EPS of $1.45 misses by $0.23 .
- Revenue of $488.26M (-39.0% Y/Y) misses by $42.43M .
- Home Sales Revenues decreased 39.0% to $488.3 million
- Home Closings decreased 42.7% to 1,448 homes
- Average Sales Price Per Home Closed increased 6.3% to $337,198
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Full Year 2023 Outlook
Subject to the caveats in the Forward-Looking Statements section of this press release, the Company is providing the following guidance for the full year 2023. The Company expects:
- Home closings between 6,000 and 7,000
- Active selling communities at the end of 2023 between 115 and 125
- Average sales price per home closed between $335,000 and $350,000
- Gross margin as a percentage of home sales revenues between 21.0% and 23.0%
- Adjusted gross margin (non-GAAP) as a percentage of home sales revenues between 22.5% and 24.5% with capitalized interest accounting for substantially all the difference between gross margin and adjusted gross margin
- SG&A as a percentage of home sales revenues between 11.5% and 12.5%
- Effective tax rate between 23.5% and 24.5%
For further details see:
LGI Homes Non-GAAP EPS of $1.45 misses by $0.23, revenue of $488.26M misses by $42.43M