Tuesday , 27 September 2016
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LGI Homes Sells 853 Houses in Second Quarter, Up 29 Percent

THE WOODLANDS, Texas – LGI Homes reported a 29 percent increase in home sales in the second quarter of 2015 as The Woodlands-based company sold 853 new homes, compared to 662 homes in the second quarter of 2014.

The company operates in 45 communities, up from 31 at the end of the second quarter of 2014.

LGI’s revenues increased 49.3 percent in the second quarter to $158.8 million. Its average home sales price increased 15.8 percent to $186,197.

Going forward into 2015, LGI is expecting strong performance, said Eric Lipar, the company’s Chief Executive Officer. and Chairman of the Board.

“July continued our trend of strong home closings with a 79 percent increase over the previous year. Based on this solid start to the third quarter and the success we have seen during the first half of the year, we feel we are well positioned to meet our goals and are raising our guidance,” Lipar said. “For the full year 2015, we now anticipate closing between 3,000 and 3,300 homes and believe basic EPS will be in the range of $2.15 to $2.50 per share.”

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