Flash FinanceUS
Market closed S&P 5007,549.94+2.35% Nasdaq25,253.14+2.74% Dow 3052,389.75+2.15% Russell 20002,840.81+3.15% Nasdaq-10027,907.62+3.40% MidCap 4003,715.23+3.13% SmallCap 6001,722.37+2.89% VIX19.92-22.31% 10Y Yield4.86+0.10% Close of Nov 09, 2026
AI brief of an SEC Form 8-K · LGI Homes (LGIH)

LGI Homes Q3 revenue rises 5.6% to $651.9 million; raises gross margin guidance

Positive Impact 4 of 5 guidance Written later

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%.

Key points

  • 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.

The filing

CompanyLGI Homes (LGIH)
Form8-K, current report
Filed with the SECNov 5, 2024, 8:30 AM ET
Accession number0001580670-24-000049

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 November 05, 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.