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AI brief of an SEC Form 8-K · LGI Homes (LGIH)

LGI Homes first-quarter home sales revenue falls to $390.9 million; diluted EPS $0.72

Negative Impact 3 of 5 earnings Written later

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.

Key points

  • 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

The filing

CompanyLGI Homes (LGIH)
Form8-K, current report
Filed with the SECApr 30, 2024, 8:30 AM ET
Accession number0001580670-24-000026

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 30, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.