Company: LGIH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001580670-25-000043
Chunk: 34

Company: LGI Homes, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 per share data and average home sales price)Statement of Income Data:Home sales revenues$351,420 $390,851 Expenses:Cost of sales277,707 299,450 Selling expenses42,342 41,128 General and administrative31,202 31,540      Operating income169 18,733 Other income, net(5,555)(4,361)     Net income before income taxes5,724 23,094 Income tax provision1,730 6,041      Net income$3,994 $17,053 Basic earnings per share$0.17 $0.72 Diluted earnings per share$0.17 $0.72 Other Financial and Operating Data:Average community count148.0 116.7 Community count at end of period146 120 Home closings996 1,083 Average sales price per home closed$352,831 $360,897 Gross margin (1)$73,713 $91,401 Gross margin % (2)21.0 %23.4 %Adjusted gross margin (3)$82,789 $98,805 Adjusted gross margin % (2)(3)23.6 %25.3 %EBITDA (4)$14,852 $30,368 EBITDA margin % (2)(4)4.2 %7.8 %

(1)Gross margin is home sales revenues less cost of sales.

(2)Calculated as a percentage of home sales revenues.

(3)Adjusted gross margin is a non-GAAP financial measure used by management as a supplemental measure in evaluating operating performance. We define adjusted gross margin as gross margin less capitalized interest and adjustments resulting from the application of purchase accounting included in the cost of sales. Our management believes this information is useful because it isolates the impact that capitalized interest and purchase accounting adjustments have on gross margin. However, because adjusted gross margin information excludes capitalized interest and purchase accounting adjustments, which have real economic effects and could impact our results, the utility of adjusted gross margin information as a measure of our operating performance may be limited. In addition, other companies may not calculate adjusted gross margin information in the same manner that we do. Accordingly, adjusted gross margin information should be considered only as a supplement to gross margin information as a measure of our performance. Please see “—Non-GAAP Measures” for