LGI Homes, Inc. Reports Third Quarter 2026 Results
LGI Homes reported Q3 2026 total revenues of $444.5 million, up 10.2% YoY, with net income of $24.6 million or $1.05 per diluted share versus $0.85 a year ago. Homebuilding gross margin was 20.2% (23.7% adjusted), above the midpoint of guidance, and net debt to capital improved 420 bps YoY to 40.6%. However, demand signals deteriorated sharply: nine-month net orders fell to 2,869 from 4,098, the cancellation rate jumped to 48.9% from 28.1%, and ending backlog dropped to 685 homes ($273.7M) from 1,305 ($498.7M).
Key figures
- Eps
- 1.05
- Revenue
- 444464000
- Guidance
- FY2026 home closings narrowed to 4,600-4,800; rest of full-year 2026 outlook maintained
- Revenue Yoy
- 10.2%
- Asp
- 367962
- Asp yoy
- -1.2%
- Net income
- 24556000
- Closings yoy
- 11.6%
- Home closings
- 1189
- Net income yoy
- up from $19.7M
- Total closings
- 1222
- Communities yoy
- 7.1%
- Total liquidity
- 447700000
- Cancellation rate
- 48.9%
- Active communities
- 151
- Nine month revenue
- 1293388000
- Net debt to capital
- 40.6%
- Ending backlog homes
- 685
- Ending backlog value
- 273711000
- Homebuilding revenue
- 437507000
- Net orders prior year
- 4098
- Net orders nine months
- 2869
- Nine month eps diluted
- 2.31
- Adjusted nine month eps
- 2.46
- Homebuilding revenue yoy
- 10.3%
- Homebuilding gross margin
- 20.2%
- Cancellation rate prior year
- 28.1%
- Inventory impairment nine months
- 4681000
- Adjusted homebuilding gross margin
- 23.7%
AI analysis
Red flags5 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.