LGI Homes, Inc. (LGIH) Form 10-Q — Aug 4, 2026
LGI Homes reported Q2 2026 homebuilding revenues of $501.5 million, up 3.7% year over year, but net income fell 14.3% to $27.0 million, with diluted EPS of $1.16 versus $1.36 a year ago. Homebuilding gross margin compressed to 19.8% from 22.9%, driven by higher lot costs, higher capitalized interest, and a $4.7 million inventory impairment taken in the first half, concentrated in the Florida and Central segments. Demand indicators weakened: first-half net orders fell 10.6% to 2,260 homes and the cancellation rate nearly doubled to 47.4% from 24.2%, while ending backlog grew to 1,298 homes valued at $525.5 million largely due to slower conversion of homes under contract to closings.
Key figures
- Eps
- 1.16
- Revenue
- 516048000
- Net Income
- 26984000
- Total Debt
- 1580907000
- Revenue Yoy
- +5.7% Q2 total revenues YoY; six-month total revenues -2.6% YoY
- Total Assets
- 3918593000
- Cash Position
- 61081000
- Shares Outstanding
- 23248272
- Diluted eps q2
- 1.16
- Net orders yoy
- -10.6%
- Cancellation rate
- 47.4% vs 24.2% prior year
- Net income yoy q2
- -14.3%
- Active communities
- 151
- Adjusted ebitda q2
- 58654000
- Avg sales price q2
- 367407
- Revolver available
- 406900000
- Ebitda margin pct q2
- 10.5
- Ending backlog homes
- 1298
- Ending backlog value
- 525549000
- Revolver outstanding
- 448957000
- Effective tax rate q2
- 26.3%
- Lots owned controlled
- 57406
- Net income six months
- 29144000
- Net orders six months
- 2260
- Diluted eps six months
- 1.25
- Homebuilding revenue q2
- 501511000
- Diluted eps prior year q2
- 1.36
- Homes closed q2 ex leased
- 1365
- Homebuilding revenue yoy q2
- +3.7%
- Buyback authorization remaining
- 157300000
- Inventory impairment six months
- 4681000
- Homebuilding gross margin pct q2
- 19.8
- Homebuilding gross margin pct prior q2
- 22.9
- Adjusted homebuilding gross margin pct q2
- 23.2
- Adjusted homebuilding gross margin pct prior q2
- 25.5
Price after filing
Close on the filing date to close N calendar days later (from $57.12). Historical, not a forecast.
AI analysis
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