$LGIH

LGI Homes, Inc.

CIK:0001580670|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues	$ 516,048	$ 488,242	$ 848,924	$ 871,630
Cost of sales	414,352	378,602	686,099	683,313
Selling expenses	44,149	41,599	76,799	83,941
General and administrative	28,571	29,401	56,432	60,603
General and administrative	(7,615)	(3,400)	(11,316)	(3,991)
Operating income	36,591	42,040	40,910	47,764
Income tax provision	9,607	10,507	11,766	12,237
Net income before income taxes	$ 26,984	$ 31,533	$ 29,144	$ 35,527
Earnings Per Share Basic And Diluted, EPS
Basic (in dollars per share)	$ 1.16	$ 1.36	$ 1.26	$ 1.52
Diluted (in dollars per share)	$ 1.16	$ 1.36	$ 1.25	$ 1.52
Diluted
Basic (in shares)	23,201,571	23,221,565	23,191,411	23,308,534
Diluted (in shares)	23,279,553	23,265,062	23,248,046	23,364,957
Home Building
Revenues	$ 501,511	$ 483,485	$ 821,247	$ 834,905
Cost of sales	402,117	372,877	661,924	650,584
Land And Other
Revenues	14,537	4,757	27,677	36,725
Cost of sales	$ 12,235	$ 5,725	$ 24,175	$ 32,729

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 29,144	$ 35,527
Adjustments to reconcile net income to net cash used in operating activities:
Equity in income of unconsolidated entities	(2,821)	(1,909)
Distributions of earnings from unconsolidated entities	825	3,695
Depreciation and amortization	2,521	1,875
Loss (gain) on disposal of assets	(5,509)	2,286
Compensation expense for equity awards	5,667	5,451
Inventory impairment	4,681	0
Deferred income taxes	(488)	(1,162)
Changes in assets and liabilities:
Accounts receivable	(1,383)	(5,879)
Real estate inventory	(19,853)	(240,279)
Pre-acquisition costs and deposits	9,702	7,019
Other assets	(1,736)	(2,903)
Accounts payable	42,571	12,773
Accrued expenses and other liabilities	(4,311)	(30,015)
Net cash provided by (used in) operating activities	59,010	(213,521)
Cash flows from investing activities:
Purchases of property and equipment	(1,512)	(885)
Proceeds from sale of property and equipment	28,403	0
Investment in unconsolidated entities	(1,882)	(3,431)
Return of capital from unconsolidated entities	514	6,388
Net cash provided by (used in) investing activities	25,523	2,072
Cash flows from financing activities:
Proceeds from notes payable	143,316	390,644
Payments on notes payable	(222,000)	(130,000)
Payments on financing arrangements	8,136	17,500
Loan issuance costs	(75)	(3,731)
Proceeds from sale of stock	2,196	2,038
Stock repurchase	0	(23,639)
Net cash provided by (used in) financing activities	(84,699)	217,812
Net increase (decrease) in cash and cash equivalents	(166)	6,363
Cash and cash equivalents, beginning of period	61,247	53,197
Cash and cash equivalents, end of period	$ 61,081	$ 59,560

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 61,081	$ 61,247
Accounts receivable	33,850	32,467
Real estate inventory	3,512,613	3,555,602
Pre-acquisition costs and deposits	19,248	28,950
Property and equipment, net	149,579	107,145
Other assets	119,812	119,909
Deferred tax assets, net	10,392	9,904
Goodwill	12,018	12,018
Total assets	3,918,593	3,927,242
LIABILITIES AND EQUITY
Accounts payable	58,750	16,179
Accrued expenses and other liabilities	146,280	157,971
Notes payable, net	1,580,907	1,656,803
Total liabilities	1,785,937	1,830,953
COMMITMENTS AND CONTINGENCIES (Note 10)
EQUITY
COMMITMENTS AND CONTINGENCIES (Note 10)	279	277
Additional paid-in capital	354,476	347,308
Retained earnings	2,187,483	2,158,339
Additional paid-in capital	(409,582)	(409,635)
Total equity	2,132,656	2,096,289
Total liabilities and equity	$ 3,918,593	$ 3,927,242
Treasury stock, common (in shares)	4,656,592	4,656,592