LGI Homes, Inc. Reports September and Third Quarter 2018 Home Closings and 2018 Third Quarter Earnings Conference Call
04 October 2018 - 8:19AM
LGI Homes, Inc. (Nasdaq:LGIH) today announced 478 homes closed in
September 2018, compared to 542 home closings in September 2017. In
addition, the Company announced quarterly home closings of 1,601
for the third quarter of 2018 compared to 1,729 home closings in
the third quarter of 2017. The Company finished the first nine
months of 2018 with 4,660 home closings, a 16.5% increase over
4,001 home closings during the first nine months of 2017.
As of the end of September 2018, the Company had 81 active
selling communities.
“Although closings for the third quarter are down
year-over-year, our outlook remains positive and demand for
homeownership remains solid,” said Eric Lipar, the Company’s Chief
Executive Officer and Chairman of the Board. “Assuming that general
economic conditions, including interest rates and mortgage
availability, in the remainder of 2018 are similar to those in the
third quarter of 2018, we believe we are on track to close between
6,400 and 7,000 homes in 2018.”
The Company expects to release financial results for the third
quarter ended September 30, 2018 before the market opens on
Tuesday, November 6, 2018. The Company will hold a conference call
for investors and other interested parties on Tuesday, November 6,
2018 at 12:30 p.m. Eastern Time to discuss the results.
A link to the live audio webcast will be provided through the
Investors section of the Company's website
at www.LGIHomes.com under Events and Presentations. The
call can also be accessed by dialing (855) 433-0929 for domestic
participants or (970) 315-0256 for international participants.
Participants should ask for the LGI Homes 2018 Third Quarter
Earnings Conference Call or reference Conference ID 1977416. Those
dialing in should do so at least ten minutes prior to the start of
the call.
An archive of the webcast will be available for replay on the
Company's website for 12 months.
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, Tennessee, Minnesota, Oklahoma, Alabama,
California, Oregon and Nevada. The Company has a notable legacy of
more than 15 years of homebuilding operations, over which time it
has closed over 26,000 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, are forward-looking
statements within the meaning of the federal securities laws, and
should be evaluated as such. Forward-looking statements include
information concerning projected 2018 home closings, as well as the
acquisition of Wynn Homes and the integration of such assets into
the Company’s operations, market conditions and possible or assumed
future results of operations, including descriptions of the
Company’s business plan and strategies. These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “forecast,” “goal,”
“intend,” “may,” “objective,” “plan,” “potential,” “predict,”
“projection,” “should,” “will” or, in each case, their negative, or
other variations or comparable terminology. 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 in the Company’s Annual
Report on Form 10-K for the fiscal year ended December 31, 2017,
including the “Cautionary Statement about Forward-Looking
Statements” subsection within the “Risk Factors” section, and
subsequent filings by the Company with the Securities and Exchange
Commission. The Company bases these forward-looking statements or
projections on its current expectations, plans and assumptions that
it has made in light of its experience in the industry, as well as
its perceptions of historical trends, current conditions, expected
future developments and 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 and projections are subject to and
involve risks, uncertainties and assumptions and you should not
place undue reliance on these forward-looking statements or
projections. Although the Company believes that these
forward-looking statements and projections 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
and projections. 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 RelationsCaitlin Stiles, (281)
210-2619InvestorRelations@LGIHomes.com
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