LGI Homes, Inc. (LGIH) Form 10-Q — Nov 3, 2026
LGI Homes reported Q3 2026 net income of $24.6 million, up 24.6% year-over-year, on homebuilding revenues of $437.5 million, up 10.3%, driven by 1,189 homes closed and strong wholesale demand from a single-family rental partner. However, forward indicators weakened materially: nine-month net orders fell 30.0% to 2,869 homes, the cancellation rate rose to 48.9%, and backlog declined 47.5% to 685 homes amid mortgage rates near 7% and strained entry-level buyer affordability. Homebuilding gross margin compressed to 20.2% from 21.5%, and the company took $4.7 million of inventory impairments in Florida and Central segments.
Key figures
- Eps
- 2.31
- Revenue
- 1293388000
- Net Income
- 53700000
- Total Debt
- 1544466000
- Revenue Yoy
- 2.2% (nine months); Q3 total revenues $444.5M, +10.1%
- Total Assets
- 3936449000
- Cash Position
- 69437000
- Shares Outstanding
- 23270358
- Asp q3
- 367962
- Q3 eps
- 1.05
- Lots owned
- 58400
- Net orders 9m
- 2869
- Q3 net income
- 24556000
- Backlog change
- -47.5% to 685 homes
- Homes closed q3
- 1189
- Cancellation rate
- 48.9%
- Active communities
- 151
- Inventory impairment
- $4.7 million
- Net orders change 9m
- -30.0%
- Q3 homebuilding gross margin
- 20.2% vs 21.5%
- Q3 homebuilding revenue growth
- 10.3%
AI analysis
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