AP NEWS

LGI Homes: 3Q Earnings Snapshot

November 5, 2019 GMT

THE WOODLANDS, Texas (AP) _ LGI Homes Inc. (LGIH) on Tuesday reported third-quarter net income of $49.3 million.

The The Woodlands, Texas-based company said it had net income of $1.93 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.

The entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets posted revenue of $483.1 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $489.4 million.

LGI Homes expects full-year earnings to be $7 to $7.60 per share.

LGI Homes shares have climbed 67% since the beginning of the year. The stock has climbed 71% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LGIH at https://www.zacks.com/ap/LGIH