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Sep 30, 2025
LGI Homes Q3 2025 Earnings Report
LGI Homes reported Q3 2025 results for the quarter ended September 30, 2025
Key Takeaways
LGI Homes delivered third quarter results with revenues of $396,600,000 and net income of $19,700,000 while home sales and margins declined year-over-year amid challenging market conditions, but backlog and strategic execution provided future visibility. :contentReference[oaicite:0]{index=0}
Revenue for Q3 2025 was $396,600,000, down significantly from last year. :contentReference[oaicite:1]{index=1}
LGI Homes closed 1,065 homes in the quarter with an average sales price of $372,424. :contentReference[oaicite:2]{index=2}
Gross margin was 21.5% and adjusted gross margin (non-GAAP) was 24.5%. :contentReference[oaicite:3]{index=3}
Ending backlog was 1,305 homes valued at $498,700,000, up year-over-year. :contentReference[oaicite:4]{index=4}
Revenue by Geographic Location
Forward Guidance
LGI Homes provided outlook for Q4 2025 expecting between 1,300 and 1,500 home closings with average sales prices of $365,000 to $375,000 and gross margins of 21% to 22%. :contentReference[oaicite:5]{index=5}
Positive Outlook
- Projected Q4 home closings between 1,300 and 1,500 homes. :contentReference[oaicite:6]{index=6}
- Expected average sales price range of $365,000 to $375,000. :contentReference[oaicite:7]{index=7}
- Anticipated gross margin range of 21% to 22%. :contentReference[oaicite:8]{index=8}
- Adjusted gross margin guidance of 24% to 25%. :contentReference[oaicite:9]{index=9}
- Focus on affordability to drive buyer demand. :contentReference[oaicite:10]{index=10}
Challenges Ahead
- Revenue and earnings declined significantly year-over-year. :contentReference[oaicite:11]{index=11}
- Housing market softness pressured home sales volume. :contentReference[oaicite:12]{index=12}
- Gross margins compressed compared to prior periods. :contentReference[oaicite:13]{index=13}
Historical Earnings Impact
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Avg. Return Before/After Earnings
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