LGI Homes: 2Q Earnings Snapshot

August 7, 2018

THE WOODLANDS, Texas (AP) _ LGI Homes Inc. (LGIH) on Tuesday reported second-quarter profit of $47.6 million.

The The Woodlands, Texas-based company said it had net income of $1.90 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.

The entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets posted revenue of $419.8 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $414.5 million.

LGI Homes expects full-year earnings to be $6.50 to $7.25 per share.

LGI Homes shares have dropped 33 percent since the beginning of the year. The stock has risen 5.5 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LGIH at https://www.zacks.com/ap/LGIH

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