LGI Homes Delivers 1,222 Homes in Q3: Revenue Up 10.2% to $444.5 Million, Net Income $24.6 Million
LGI Homes, Inc. (Nasdaq: LGIH), the homebuilder headquartered in The Woodlands, in Harris County, Texas, reported third-quarter 2026 results on November 3: total home closings of 1,222, up 10.4% year over year, including 1,189 new-home closings; homebuilding revenues of $437.5 million, up 10.3%; total revenues of $444.5 million, up 10.2%; and net income of $24.6 million, or $1.05 per diluted share.
The average sales price per home closed was $367,962, down 1.2%. Homebuilding gross margin was 20.2% and adjusted homebuilding gross margin 23.7%, both above the midpoint of prior guidance and up 40 basis points sequentially. SG&A expenses fell in absolute dollars and improved 180 basis points as a share of revenue. Income before taxes was $33.3 million. For the first nine months, homebuilding revenues were $1,258.8 million, up 2.2%, with 3,578 total closings and net income of $53.7 million.
Total liquidity stood at $447.7 million as of September 30, including $69.4 million in cash and $378.3 million available under its revolving credit facility, and the net debt to capital ratio improved to 40.6%, down 420 basis points year over year. The company ended the quarter with 151 active communities, up 7.1%.
LGI Homes narrowed its full-year closings outlook to between 4,600 and 4,800 homes, with 150 to 160 active selling communities at year-end and an average sales price of $360,000 to $370,000, while noting that affordability pressures continued to weigh on sales pace. Chairman and CEO Eric Lipar said the quarter delivered year-over-year growth in closings, revenue and earnings, with an expanding community count and a stronger balance sheet. Founded in 2003, LGI Homes operates across 36 markets in 21 states and has closed more than 80,000 homes.
(Source: LGI Homes)
Source: LGI Homes
Published by GSM · USA (original Chinese edition)
Photo: 图：住宅社区航拍（资料图）。经 Wikimedia Commons，CC BY-SA 2.0。 / Photo: Aerial view of a residential community (file photo), via Wikimedia Commons, CC BY-SA 2.0.
