LGI Homes 10-Q: Revenue $319.7M, EPS $0.09
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LGI Homes reported Q1 revenues of $319.7 million, down 9.0% year-over-year, with diluted EPS of $0.09, a decline from $0.17. Net income fell 45.1% to $2.16 million due to lower closings and margin pressures. The company is focusing on affordable, move-in ready homes and has reduced selling and G&A costs. Net orders decreased by 15%, while backlog increased by 63% to 1,699 homes valued at $660.5 million. Gross margin percentage contracted due to inventory impairments and higher capitalized interest.
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