LGI Homes: 2Q Earnings Snapshot
THE WOODLANDS, Texas (AP) _ LGI Homes Inc. (LGIH) on Tuesday reported second-quarter profit of $46.1 million.
The The Woodlands, Texas-based company said it had profit of $1.82 per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.
The entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets posted revenue of $461.8 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $461.9 million.
LGI Homes expects full-year earnings to be $7 to $8 per share.
LGI Homes shares have climbed 51% since the beginning of the year. The stock has increased 34% in the last 12 months.