Company: LGIH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001580670-25-000043
Chunk: 137

Company: LGI Homes, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part II, Item 7
Chunk 137
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 foreign jurisdictions. Additionally, the U.S. government has announced and rescinded multiple tariffs on several foreign jurisdictions, which has increased uncertainty regarding the ultimate effect of the tariffs on economic conditions. Current uncertainties about tariffs and their effects on trading relationships may affect costs for and availability of raw materials or contribute to inflation in the markets in which we operate. Although we are continuing to monitor the economic effects of such announcements, as well as opportunities to mitigate their related impacts, costs and other effects associated with the tariffs remain uncertain. To date, we have not seen any impacts from tariffs on product availability or costs. We are working closely with our suppliers to mitigate any potential impacts as well as broadening our sourcing network.  To date, we have not experienced any disruptions in our labor base related to immigration policies of the new administration in Washington D.C. 

We sell homes under the LGI Homes and Terrata Homes brands. Our 146 active communities at March 31, 2025 included 17 Terrata Homes communities. At March 31, 2024, we had 120 active communities, including 16 Terrata Homes communities.

Recent Developments

On April 28, 2025, we entered into the Sixth Amendment, which amended the 2024 Credit Agreement.  The Sixth Amendment, among other things, (a) extended the maturity of the commitments of certain lenders under the Credit Agreement to April 28, 2029, (b) added certain financial institutions as issuers of letters of credit and (c) reset the tangible net worth financial covenant for the period from and after the date of the Sixth Amendment.  For additional information on the Credit Agreement (including defined terms used in this paragraph), see Note 4, “Notes Payable” to our consolidated financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q.

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Table of Contents

For additional discussion regarding our business and operations, see Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations in Part II of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. For additional discussion regarding risks associated with our business and operations, see Item 1A. Risk Factors in Part I of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

Key Results 

Key financial results as of and for the three months ended March 31, 2025, as compared to the three months ended March 31