LGI Homes, Inc. (LGIH) Earnings
LGI Homes, Inc. is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $0.81. LGIH has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise -3.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $0.19 | $0.24 | +26.3% | $320M | -2.6% |
| Feb 17, 2026 | $0.96 | $0.97 | +1.0% | $474M | +32.4% |
| Nov 4, 2025 | $0.94 | $0.85 | -9.6% | $397M | -20.7% |
| Apr 30, 2024 | $1.06 | $0.72 | -32.1% | $690M | +72.6% |
| Feb 20, 2024 | $2.54 | $2.19 | -13.8% | $608M | -7.0% |
| May 2, 2023 | $1.25 | $1.14 | -8.8% | $487M | +4.2% |
| Feb 21, 2023 | $1.68 | $1.45 | -13.7% | $488M | -6.8% |
| Nov 1, 2022 | $3.50 | $3.85 | +10.0% | $547M | -8.8% |
| Aug 2, 2022 | $4.29 | $5.20 | +21.2% | $723M | +0.8% |
| May 3, 2022 | $2.72 | $3.25 | +19.5% | $546M | +5.8% |
| Feb 15, 2022 | $4.20 | $4.53 | +7.9% | $801M | +5.7% |
| Nov 2, 2021 | $3.95 | $4.05 | +2.5% | $752M | +2.5% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 28, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Disciplined execution across the organization with steady demand for homes. Sales activity improved across most markets, enabling backlog growth. - Average selling price increased. Gross margin before inventory-related charges and adjusted gross margin were above full-year outlook. - Net orders and backlog figures. - Land position: Owned and controlled 59,028 lots, with specific breakdown of raw land, finished lots, etc. - Capital position: Debt outstanding, debt-to-cap ratio, liquidity, and equity details. - Confidence in long-term housing market fundamentals with 100% SPAC entry-level focused model and strong land pipeline.
Guidance
- Annual closings between 4,600 and 5,400 homes. - 150 to 160 active communities by year end. - Average selling price between $355,000 and $365,000. - SG&A as a percentage of revenue between 15% and 16%. - Raised full year gross margin to a range between 18.5% and 20.5%, and adjusted gross margin between 22% and 24%.
Segment performance
During the first quarter, LGI Homes delivered a total of 916 homes. Of this total, 881 homes contributed directly to revenue of $320 million. The remaining 35 closings were currently or previously leased homes, gains from which were in other income. Average selling price increased nearly 3% to approximately $363,000. Gross margin before inventory-related charges was 20.2% and adjusted gross margin was 23.4%. Net orders were 1,221 homes, cancellation rate was 45.6%. Backlog at quarter end was 1,699 homes, a 63% increase year over year and 22% increase sequentially.
Analyst Q&A
Q: On gross margin, better than anticipated and raising full year guidance, talk about what drove better gross margin and improved outlook.
A: Eric said cost relief, reducing older inventory, pricing in select communities, and geographic mix drove it.
Q: On demand trends, impact of March rates increase and Iran conflict, trend in April.
A: Eric said January and February were tough, March recovered, anticipate closing 400 - 450 in April, sales trends in April similar to March with no impact from war or higher rates.
Q: Revisiting gross margin factors, which was more driving upside.
A: Eric said cost relief, pricing power, mix all played roles.
Q: On second quarter adjusted gross margin outlook.
A: Eric said depends on mix, pricing, generally expect second quarter adjusted gross margin similar to first.
Q: On cancellation rate impact.
A: Eric said focus on closing guide, backlog is high, managing pipeline, working with customers, cancellation rate likely to remain elevated.
Q: On backlog increase, time to close.
A: Alex was told time to close could be elevated due to customers saving for down payment, sales relative to under construction houses increasing.
Q: On Northwest and West average sales price increase, one-off or representative.
A: Eric said community specific, new communities opening affecting lot cost and ASP.
Q: On land and lumber costs.
A: Eric said no significant land development cost decreases expected, house costs likely to go up. Charles added on finished vacant lots.
Q: On order ASP increase, driver.
A: Eric said elevated due to West results.
Q: On wholesale business breakdown.
A: Charles said wholesale closings were 12.6% of total closings in Q1, backlog over 400 units related to wholesale, order activity limited in Q1 from wholesale.
Q: On other income line item.
A: Charles said it's variable, around $5 million over last few quarters, combination of selling lots, commercial land, and profit from previously leased homes.