LGI Homes Q2 2020 Earnings Report
Key Takeaways
LGI Homes announced record second-quarter results, with net income increasing by 20.8% to $55.6 million. Home sales revenues rose by 4.3% to $481.6 million, and home closings increased by 3.1% to 2,005 homes. The company's focus on cash management led to the lowest net debt to capitalization ratio since 2014.
Net income increased 20.8% to $55.6 million.
Home sales revenues increased 4.3% to $481.6 million.
Home closings increased 3.1% to 2,005 homes.
Active selling communities increased 25.8% to 117.
LGI Homes
LGI Homes
Forward Guidance
The Company anticipates closing between 8,000 to 8,800 homes for the year. Additionally, we expect active selling communities at the end of the year will be between 115 and 125 and expect our average home sales price for 2020 will be in the range of $245,000 to $255,000.