LGI Homes, Inc. Announces Record December, 4th Quarter, and Year End 2017 Home Closings and 2017 Year End Earnings Conference...
January 04 2018 - 8:06PM
LGI Homes, Inc. (Nasdaq:LGIH) today announced an all-time
record for closings during a single month with 770 homes closed
in December 2017, representing year-over-year growth of 64.9%.
In addition, the Company announced record-breaking quarterly home
closings of 1,844 during the fourth quarter of 2017 compared to
1,139 home closings in the fourth quarter of 2016, a 61.9% increase
year-over-year. The Company had 5,845 home closings in 2017
surpassing its previous annual record of 4,163 home closings in
2016 by 40.4%.
As of the end of December 2017, the Company had 78 active
selling communities.
"We are extremely pleased with our record setting performance,"
said Eric Lipar, LGI Homes Chairman and CEO. "We continue to see
robust demand for homeownership in our markets and uphold a
positive outlook for 2018. Assuming that general economic
conditions, including interest rates and mortgage availability, in
2018 are similar to those in the fourth quarter of 2017, we believe
we will close between 6,000 and 7,000 homes in 2018 and end the
year with between 85 and 90 active communities."
The Company will release financial results for the fourth
quarter and fiscal year ended December 31, 2017 before the market
opens on Tuesday, February 27, 2018. The Company will hold a
conference call for investors and other interested parties on
Tuesday, February 27, 2018 at 12:30 p.m. Eastern Time to discuss
the results and will provide additional guidance at that time.
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 2017 Fourth Quarter
Earnings Conference Call or reference Conference ID 8099895. 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 and Minnesota. The Company has a
notable legacy of more than 14 years of homebuilding operations,
over which time it has closed over 21,000 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 for 2018 home closings, 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, 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 are subject to and involve risks, uncertainties and
assumptions and you should not place undue reliance on these
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.
CONTACT: Investor RelationsCaitlin Stiles, (281)
210-2619InvestorRelations@LGIHomes.com
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