LGI Homes, Inc. (LGIH) Form 8-K — Nov 3, 2026

$LGIHForm 8-KItems 2.02, 7.01, 9.01Filed Nov 3, 2026, 8:34 AM ET0001580670-26-000085Original filing

LGI Homes reported strong Q3 2026 results: total revenues of $444.5 million (+10.2% YoY), net income of $24.6 million, and diluted EPS of $1.05 versus $0.85 a year ago, on 1,222 home closings. Homebuilding gross margin of 20.2% and adjusted gross margin of 23.7% beat the midpoint of prior guidance, and net debt to capital improved 420 bps YoY to 40.6%. However, demand signals deteriorated materially: nine-month net orders fell to 2,869 from 4,098, the cancellation rate nearly doubled to 48.9% from 28.1%, and backlog value dropped to $273.7 million from $498.7 million. Management cited continued affordability pressures and slower sales activity.

Key figures

Eps: 1.05
Revenue: $444.5 million (Q3 total revenues)
Guidance: Narrowed FY2026 home closings to 4,600-4,800; active communities 150-160; ASP $360,000-$370,000; homebuilding gross margin 19.0%-21.0%; adjusted homebuilding gross margin 22.5%-24.5%; SG&A 15.0%-16.0% of revenues; effective tax rate ~26.5%
Net Income: $24.6 million (Q3)
Total Debt: $1,544.5 million notes payable
Revenue Yoy: +10.2% (Q3 total revenues)
Total Assets: $3,936.4 million
Cash Position: $69.4 million cash and equivalents; $447.7 million total liquidity
Q3 asp: $367,962 (-1.2% YoY)
Owned lots: 50,270; controlled lots 8,130
Ytd net income: $53.7M, EPS $2.31
Ytd net orders: 2,869 vs 4,098 prior year
Community count: 151 (+7.1% YoY)
Q3 closings total: 1,222 (+10.4% YoY)
Net debt to capital: 40.6% (improved 420 bps YoY)
Ending backlog homes: 685 vs 1,305 prior year
Ending backlog value: $273.7M vs $498.7M prior year
Cancellation rate ytd: 48.9% vs 28.1% prior year
Q3 closings new homes: 1,189 (+11.6% YoY)
Q3 homebuilding revenue: $437.5M, +10.3% YoY
Q3 homebuilding gross margin: 20.2%
Q3 adjusted homebuilding gross margin: 23.7%

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