LGI Homes (LGIH) Q2 2026 earnings summary

Executive summary

• Delivered 1,440 homes in Q2 2026, up 8.8% year-over-year, with total revenues of $516.0 million and homebuilding revenues of $501.5 million.

• Year-to-date home closings reached 2,356, a 1.6% increase over the prior year.

• Ended Q2 with 151 active communities, a 3.4% increase year-over-year, meeting the low end of full-year guidance.

• Average selling price per home closed in Q2 was $367,407, up 0.5% year-over-year, with targeted discounts and incentives supporting affordability.

• Commenced dual listing and trading of common stock on Nasdaq Texas, LLC on July 9, 2026.

Financial highlights

• Q2 2026 homebuilding revenues rose 3.7% year-over-year to $501.5 million; total revenues were $516.0 million.

• Homebuilding gross margin was 19.8%; adjusted homebuilding gross margin was 23.2%.

• Net income for Q2 2026 was $27.0 million, or $1.16 per share, down 14.3% year-over-year.

• Adjusted EBITDA was $58.7 million (11.4% of revenue); EBITDA margin was 10.5%.

• Backlog at quarter-end was 1,298 homes valued at $525.5 million, up over 60% year-over-year.

Outlook and guidance

• Full-year 2026 home closings expected between 4,600 and 5,400; active selling communities at year-end between 150 and 160.

• Average sales price per home closed projected between $360,000 and $370,000; guidance raised by $5,000.

• Homebuilding gross margin guidance raised to 19.0%-21.0%; adjusted homebuilding gross margin to 22.5%-24.5%.

• SG&A as a percentage of total revenues expected between 15.0% and 16.0%.

• Management expects continued affordability pressures and high mortgage rates to impact demand.