LGI Homes Inc reports results for the quarter ended in June - Earnings Summary

LGI Homes

30/07/2024 14:31

* LGI Homes Inc  LGIH.OQ  reported quarterly adjusted
earnings of
$2.48​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of $2.25. 
The mean expectation of six analysts for the quarter was
for earnings of $2.18 per share. Wall Street expected results to
range from $1.70  to $2.89 per share.
    * Revenue fell 6.6% to $602.50 million from a year ago;
analysts
expected $625.20 million. 
    * LGI Homes Inc's reported EPS for the quarter was $2.48​.
    * The company reported quarterly net income of $58.57
million.
    * LGI Homes Inc shares had risen by 17.3% this quarter and
lost 21.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6% in
the last three months.​ 
    * In the last 30 days, four analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 3
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the homebuilding
peer
group is also "hold"

Wall Street's median 12-month price target for LGI Homes Inc is
$118.00 
This summary was machine generated from LSEG data July 30 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      2.18           2.48           Beat
 Mar. 31 2024      1.06           0.72           Missed
 Dec. 31 2023      2.54           2.19           Missed
 Sep. 30 2023      2.18           2.84           Beat