LGI Homes, Inc. Reports August 2017 Home Closings
07 September 2017 - 10:06AM
LGI Homes, Inc. (Nasdaq:LGIH) today announced 596 homes closed in
August 2017, up from 383 home closings in August 2016, representing
year-over-year growth of 55.6%. The Company ended the first eight
months of 2017 with 3,459 home closings, a 30.0% increase over
2,661 home closings during the first eight months of 2016.
As of the end of August 2017, the Company had 76 active selling
communities.
In addition, LGI announced that damage to its communities from
Hurricane Harvey has been minimal and, most importantly, all of its
employees are safe.
LGI’s operations span across 14 locations throughout the Greater
Houston Area comprised of over 500 homes completed or under
construction. “Approximately twenty-five homes were impacted
from weather related to Hurricane Harvey,” said Eric Lipar, the
Company’s Chief Executive Officer and Chairman of the Board. “We
expect damages related to these homes to total less than $100,000.
All of the Company’s active selling communities are fully
operational and we do not anticipate further interruptions in our
business as a result of this storm.”
Lipar concluded, “Our thoughts go out to all those affected by
Hurricane Harvey during this difficult time. We continue to
keep the people of Houston and Southeast Texas in our thoughts and
prayers and are committed to supporting relief efforts throughout
our region in the aftermath of Hurricane Harvey.”
About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI Homes, Inc. engages
in the design, construction and sale of homes in Texas, Arizona,
Florida, Georgia, New Mexico, Colorado, North Carolina, South
Carolina, Washington and Tennessee. The Company has a notable
legacy of more than 14 years of homebuilding operations, over which
time it has closed over 19,000 homes. For more information about
the Company and its new home developments, please visit the
Company's website at www.LGIHomes.com.
Forward-Looking Statements
Any statements made in this press release that are not
statements of historical fact, including statements about the
Company's beliefs and expectations relating to the impact of
Hurricane Harvey, are forward-looking statements within the meaning
of the federal securities laws, and should be evaluated as such.
For more information concerning factors that could cause actual
results to differ materially from those contained in the
forward-looking statements please refer to the "Risk Factors"
section, including, without limitation, the risk factor entitled
"Cautionary Statement about Forward-Looking Statements" in the
Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2016 filed by the Company with
the Securities and Exchange Commission ("SEC") on March
7, 2017 and similar sections in the Company's subsequent
filings with the SEC. The Company bases these forward-looking
statements on its current expectations, plans and assumptions that
it has made in light of its experience in the industry and current
conditions, as well as other factors it believes are appropriate
under the circumstances and at such time. As you read and consider
this press release, you should understand that these statements are
not guarantees of future performance or results. The
forward-looking statements are subject to and involve risks,
uncertainties and assumptions and you should not place undue
reliance on these forward-looking statements. Although the
Company believes that these forward-looking statements are based on
reasonable assumptions at the time they are made, you should be
aware that many factors could affect the Company's actual results
to differ materially from those expressed in the forward-looking
statements. The Company undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. If the Company does update
one or more forward-looking statements, there should be no
inference that it will make additional updates with respect to
those or other forward-looking statements.
CONTACT:
Investor Relations
Caitlin Stiles, (281) 210-2619
InvestorRelations@LGIHomes.com
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