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

LGI Homes Q2 diluted EPS rose to $2.48 while revenue fell to $602.5 million

Mixed Impact 4 of 5 earnings Written later

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.

Key points

  • 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.

The filing

CompanyLGI Homes (LGIH)
Form8-K, current report
Filed with the SECJul 30, 2024, 8:30 AM ET
Accession number0001580670-24-000035

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 July 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.