Every material Form 8-K LGI Homes has filed with the SEC since April 30, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
LGI Homes reported third-quarter 2026 revenue of $444.5 million, up 10.2% from a year earlier, and net income of $24.6 million, or $1.05 per diluted share, compared with $0.85 a year earlier. The company narrowed its 2026 home closings outlook to 4,600 to 4,800 homes, citing slower sales as affordability pressures weighed on demand, while keeping its other full-year 2026 guidance unchanged.
Q3 2026 total revenues of $444.5 million, up 10.2%; net income of $24.6 million, or $1.05 per diluted share, versus $0.85 a year earlier
Full-year 2026 home closings guidance narrowed to 4,600 to 4,800 homes; other full-year outlook items maintained
Nine-month net orders were 2,869 versus 4,098 a year earlier, and the cancellation rate was 48.9% versus 28.1%
Net debt to capital ratio was 40.6% at September 30, 2026, down from 43.2% at December 31, 2025
LGI Homes entered into a Seventh Amendment to its credit agreement with Wells Fargo as administrative agent and several lenders on October 9, 2026. The amendment extends the maturity of certain lenders' commitments to October 9, 2030, and provides for aggregate revolving commitments of approximately $1.166 billion, including a $175 million incremental facility.
Amendment dated October 9, 2026, with Wells Fargo Bank, National Association as administrative agent
Commitments of $855 million, or 73.3%, mature October 9, 2030; 18.4% mature April 28, 2029; 8.3% mature April 28, 2028
Aggregate revolving commitments of approximately $1.166 billion, including a $175 million incremental facility
Amendment also modifies borrowing base values and certain financial and other covenants
LGI Homes reported second-quarter 2026 total revenues of $516.0 million, up from $488.2 million a year earlier, but net income fell to $27.0 million, or $1.16 per diluted share, from $31.5 million, or $1.36 per diluted share. The company raised its full-year 2026 average sales price and homebuilding gross margin guidance for the second consecutive quarter.
Q2 total revenues of $516.0 million vs. $488.2 million in Q2 2025; net income of $27.0 million vs. $31.5 million
Diluted EPS of $1.16 vs. $1.36 in the prior-year quarter; homebuilding gross margin of 19.8% vs. 22.9%
Full-year 2026 average sales price guidance raised to $360,000-$370,000; homebuilding gross margin guidance raised to 19.0%-21.0%
Debt reduced by $128.6 million in the quarter; debt-to-capital ratio of 42.6% at June 30, 2026
LGI Homes reported first quarter 2026 results for the three months ended March 31, 2026. Home sales revenues were $319.7 million, down from $351.4 million a year earlier, and GAAP net income was $2.2 million, or $0.09 per diluted share, versus $4.0 million, or $0.17, in the prior-year quarter. The company raised its full-year 2026 gross margin guidance to 18.5% to 20.5%, citing first quarter margins above its previous range, while reiterating its other 2026 outlook items.
Home sales revenues of $319.7 million versus $351.4 million, with 881 home closings versus 996 a year earlier.
GAAP net income of $2.2 million, or $0.09 diluted EPS, versus $0.17; adjusted diluted EPS of $0.24 excludes a $4.7 million inventory impairment (non-GAAP).
Full-year 2026 gross margin guidance raised to 18.5% to 20.5%; adjusted gross margin guidance set at 22.0% to 24.0%.
Total liquidity of $355.0 million and net debt to capital ratio of 44.0% at March 31, 2026.
LGI Homes reported fourth-quarter 2025 home sales revenues of $474.0 million, down from $557.4 million a year earlier, and net income of $17.3 million, or $0.75 diluted EPS, versus $50.9 million, or $2.15, in the prior-year quarter. For full-year 2025, net income was $72.6 million, or $3.12 diluted EPS, compared with $196.1 million, or $8.30, in 2024. The company also issued 2026 guidance calling for 4,600 to 5,400 home closings and a gross margin of 18.0% to 20.0%, compared with 20.7% in 2025.
Q4 2025 home sales revenues were $474.0 million, versus $557.4 million in Q4 2024
Q4 2025 diluted EPS was $0.75, versus $2.15; full-year 2025 diluted EPS was $3.12, versus $8.30
2026 guidance: 4,600 to 5,400 home closings and average sales price of $355,000 to $365,000
Year-end 2025 backlog was 1,394 homes valued at $501.3 million, including a wholesale contract to deliver 480 homes during 2026
LGI Homes reported third-quarter 2025 results on November 4, 2025, with home sales revenues of $396.6 million and net income of $19.7 million, or $0.85 per diluted share, compared with $651.9 million and $69.6 million, or $2.95 per diluted share, a year earlier. The company said third-quarter results met its stated guidance, that net orders rose 8.1% year over year, and that ending backlog rose 19.9%. Shareholders face sharply lower reported revenue and profit, and the company also issued fourth-quarter 2025 guidance for 1,300 to 1,500 home closings.
Home sales revenues were $396.6 million in the third quarter of 2025, versus $651.9 million a year earlier; home closings were 1,065, versus 1,757.
Net income was $19.7 million, or $0.85 per diluted share, versus $69.6 million, or $2.95 per diluted share, a year earlier.
Gross margin was 21.5%, versus 25.1% a year earlier.
Ending backlog was 1,305 homes, up 19.9% from the same period last year; fourth-quarter closings are guided to 1,300 to 1,500.
LGI Homes reported second-quarter 2025 home sales revenues of $483.5 million, down from $602.5 million a year earlier, and net income of $31.5 million, or $1.36 per diluted share, versus $58.6 million, or $2.48, in the prior-year quarter. The company withdrew its full-year 2025 guidance and issued outlook only for the third quarter, citing limited visibility into the fourth quarter for its spec-focused model.
Q2 2025 home sales revenues were $483.5 million, versus $602.5 million in Q2 2024; home closings were 1,323, versus 1,655.
Q2 2025 net income was $31.5 million, or $1.36 diluted EPS, versus $58.6 million, or $2.48, a year earlier.
The company withdrew full-year 2025 guidance and expects third-quarter 2025 closings between 1,100 and 1,300.
The company repurchased 367,568 shares for $20.6 million in Q2 2025; total liquidity was $322.6 million at June 30, 2025.
At its April 24, 2025 annual meeting, LGI Homes stockholders elected all seven director nominees to one-year terms, ratified Ernst & Young LLP as auditor for 2025, and approved 2024 executive pay in an advisory vote. They also approved Amendment No. 1 to the 2016 Employee Stock Purchase Plan. The filing reports routine annual meeting outcomes and no change in financial results.
Seven directors elected to terms expiring at the 2026 annual meeting; Steven Smith received the most withheld votes at 2,315,262
Ernst & Young LLP ratified as independent registered public accounting firm for fiscal 2025, with 18,851,016 votes for and 87,514 against
Advisory vote on 2024 named executive officer compensation approved, with 15,771,958 votes for and 542,873 against
Employee Stock Purchase Plan amendment approved, with 16,309,126 votes for and 8,048 against
LGI Homes reported first-quarter 2025 home sales revenues of $351.4 million, down from $390.9 million a year earlier, and net income of $4.0 million, or $0.17 per diluted share, versus $17.1 million, or $0.72 per diluted share, in the prior-year quarter. The company also lowered its full-year 2025 gross margin guidance, citing expected tariff-related supplier price increases, which weighs on shareholders' expected profitability for the year.
Q1 2025 home sales revenues were $351.4 million versus $390.9 million in Q1 2024; home closings were 996 versus 1,083.
Net income was $4.0 million, or $0.17 diluted EPS, compared with $17.1 million, or $0.72, a year earlier.
Full-year 2025 gross margin guidance was trimmed by 150 basis points at the low end and 100 basis points at the high end, to 21.7% to 23.2%; adjusted gross margin guidance is 24.0% to 25.5%.
Other full-year 2025 outlook items were reiterated, including 6,200 to 7,000 home closings and an average sales price of $360,000 to $370,000.
LGI Homes reported fourth-quarter 2024 results in which home sales revenue, net income and diluted EPS all declined from a year earlier. For full year 2024, revenue fell 6.6% to $2.2 billion and net income fell 1.6% to $196.1 million, while gross margin rose to 24.2%. The company also issued 2025 guidance for 6,200 to 7,000 home closings and cited expected affordability challenges, which matters to shareholders because it sets a near-term outlook for sales and profitability.
Q4 2024: home sales revenues decreased 8.4% to $557.4 million; net income decreased 2.3% to $50.9 million, or $2.15 diluted EPS
Full year 2024: home closings of 6,131 including a bulk sale of 103 leased homes; net income of $196.1 million, or $8.30 diluted EPS
Gross margin rose 120 basis points to 24.2% for 2024; 2025 guidance projects gross margin of 23.2% to 24.2%
2025 guidance: 6,200 to 7,000 home closings and average sales price of $360,000 to $370,000
LGI Homes, Inc. completed a $400 million offering of 7.000% Senior Notes due 2032 on November 15, 2024, adding new long-term debt to its balance sheet. The notes carry covenants limiting certain liens, sale-leaseback transactions, business combinations and designation of unrestricted subsidiaries, subject to significant exceptions.
Offering size: $400,000,000 aggregate principal amount of 7.000% Senior Notes due 2032, completed November 15, 2024
Indenture governed by a base indenture dated July 6, 2018, with a Fifth Supplemental Indenture dated November 15, 2024; trustee for the notes is Regions Bank
Notes were not registered under the Securities Act of 1933 and were offered only through a private offering memorandum
LGI Homes entered into a purchase agreement on November 12, 2024, to sell $400 million of 7.000% Senior Notes due 2032 in a private offering. The company expects the offering to close on November 15, 2024, and plans to use the net proceeds to repay part of its outstanding revolving credit facility borrowings, which shifts debt from the revolver to fixed-rate notes maturing in 2032.
Principal amount: $400 million of Senior Notes due 2032 at a 7.000% interest rate
Expected closing date: November 15, 2024, subject to customary closing conditions
Use of proceeds: repay a portion of outstanding borrowings under the revolving credit facility
Initial purchasers led by BofA Securities, Inc. as representative
LGI Homes reported third-quarter 2024 home sales revenue up 5.6% to $651.9 million and net income up 3.8% to $69.6 million, and updated its full-year 2024 guidance. The company now expects 6,100 to 6,400 home closings and raised its gross margin guidance range by 50 basis points at both ends, to 24.0% to 25.0%. For shareholders, the quarter improved, but nine-month home sales revenue fell 6.0% and nine-month net income fell 1.3%.
Q3 net income rose 3.8% to $69.6 million, or $2.95 diluted EPS; Q3 gross margin fell 60 basis points to 25.1%.
Q3 home closings rose 0.3% to 1,757 and average sales price per home closed rose 5.2% to $371,004.
Nine-month home sales revenue fell 6.0% to $1.6 billion and nine-month net income fell 1.3% to $145.2 million.
Full-year 2024 guidance: 6,100 to 6,400 home closings and gross margin of 24.0% to 25.0%, with the range raised 50 basis points at both ends.
LGI Homes entered into a Fifth Amendment to its credit agreement with Wells Fargo as administrative agent, dated October 9, 2024. The amendment revises a negative covenant on housing inventory and extends the maturity of certain lenders' commitments to April 28, 2028. Because most of the $1.205 billion in commitments now mature in 2028, the change pushes out a large part of the company's borrowing deadlines.
Credit agreement amendment dated October 9, 2024, with Wells Fargo Bank, National Association, as administrative agent
Total commitments of $1.205 billion; $1.085 billion, or 90.0%, matures April 28, 2028
10.0% of commitments still mature April 28, 2025
Amendment revises the negative covenant in Section 10.1(g) relating to housing inventory
LGI Homes reported second quarter 2024 net income of $58.6 million, or $2.48 diluted EPS, up from $2.25 a year earlier, while home sales revenues fell to $602.5 million from $645.3 million. The company raised its full-year 2024 gross margin guidance to 23.5% to 24.5% and set home closings guidance at 6,400 to 7,200, which gives shareholders a mixed picture of lower sales volume offset by higher profitability.
Q2 2024 home closings were 1,655, compared with 1,854 in Q2 2023.
Q2 2024 diluted EPS was $2.48, compared with $2.25 in Q2 2023, which the company said was an increase of 10.2%.
Full-year 2024 guidance: 6,400 to 7,200 home closings, average sales price of $360,000 to $370,000, and gross margin of 23.5% to 24.5%.
The company repurchased 83,763 shares for $8.0 million in the second quarter.
LGI Homes reported first-quarter 2024 results, with home sales revenue of $390.9 million, down from $487.4 million a year earlier, and net income of $17.1 million, down from $27.0 million. The company kept its full-year 2024 guidance unchanged and said demand improved during the quarter and continued into April.
Home closings of 1,083 versus 1,366 in the first quarter of 2023
Diluted EPS of $0.72 versus $1.14 a year earlier; net income of $17.1 million versus $27.0 million
Gross margin of 23.4% versus 20.3%; ending backlog of 1,335 homes valued at $519.5 million
Full-year 2024 guidance maintained, including 7,000 to 8,000 home closings
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