Company: LGIH
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001580670-25-000076
Chunk: 135

Company: LGI Homes, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 135
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 Measures.”

We owned and controlled 62,564 lots at September 30, 2025 as compared to 64,756 lots at June 30, 2025 and 70,899 lots at December 31, 2024.

24

Results of Operations

The following table sets forth our results of operations for the three and nine months ended September 30, 2025 and 2024:

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(dollars in thousands, except per share data and average home sales price)Statement of Income Data:Home sales revenues$396,632 $651,854 $1,231,537 $1,645,202 Expenses:Cost of sales311,520 488,362 962,104 1,239,425 Selling expenses35,661 55,196 119,602 149,196 General and administrative27,967 27,991 88,570 90,022 Operating income21,484 80,305 61,261 166,559 Other income, net(5,217)(11,547)(13,204)(25,270)Net income before income taxes26,701 91,852 74,465 191,829 Income tax provision6,997 22,277 19,234 46,628 Net income$19,704 $69,575 $55,231 $145,201 Basic earnings per share$0.85 $2.96 $2.38 $6.17 Diluted earnings per share$0.85 $2.95 $2.37 $6.15 Other Financial and Operating Data:Average community count142.0 133.3 145.3 126.1 Community count at end of period141 138 141 138 Home closings1,065 1,757 3,384 4,495 Average sales price per home closed$372,424 $371,004 $363,929 $366,007 Gross margin (1)$85,112 $163,492 $269,433 $405,777 Gross margin % (2)21.5 %25.1 %21.9 %24.7 %Adjusted gross margin (3)$97,115 $