LGI Homes, Inc. (LGIH) Form 10-Q — Apr 28, 2026
LGI Homes reported a decline in financial performance for the first quarter of 2026, with home sales revenues decreasing 9.0% to $319.7 million and net income falling 45.9% to $2.2 million compared to the prior year. The decrease in revenue was primarily driven by an 11.5% drop in home closings, which fell to 881 units, alongside a decrease in gross margin percentage to 18.7%. Operational challenges were evident as the cancellation rate spiked to 45.6% from 16.3% in the prior year, reflecting financing challenges for buyers. Despite a 63.4% increase in backlog units to 1,699 homes, the company recorded a $4.7 million inventory impairment charge related to its Florida and Central segments.
Key figures
- Eps
- 0.09
- Revenue
- 319.736M
- Net Income
- 2.16M
- Total Debt
- 1.709B
- Revenue Yoy
- -9.0%
- Cash Position
- 60.86M
- Backlog Value
- 660.511M
- Home Closings
- 881
- Cancellation Rate
- 45.6%
- Gross Margin Percent
- 18.7%
Price after filing
Close on the filing date to close N calendar days later (from $48.96). Historical, not a forecast.
AI analysis
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.