LGI Homes, Inc. Reports Third Quarter 2026 Results
Key Highlights
- ➤Q3 total revenues $444.5 million, up 10.2% year-over-year
- ➤Q3 net income $24.6 million, or $1.05 diluted EPS
- ➤2026 closing outlook narrowed to 4,600–4,800 homes
- ➤Nine-month net orders fell to 2,869; cancellation rate rose to 48.9%
- ➤Ending backlog declined to 685 homes valued at $273.7 million
Expert Statements
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“We delivered strong third quarter financial results, generating year-over-year growth in closings, revenue, and earnings while maintaining strong profitability, expanding our community count, and further strengthening our balance sheet”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“During the quarter, we delivered 1,222 homes, a 10.4% increase year-over-year, including 33 currently and previously leased homes.”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“The 1,189 new homes we closed generated homebuilding revenues of $437.5 million, up 10.3%, and total revenues reached $444.5 million, up 10.2% from the prior year.”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“Homebuilding gross margin of 20.2% and adjusted homebuilding gross margin of 23.7% were both above the midpoint of our previous guidance ranges and up 40 basis points sequentially.”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“This reflects the continued benefits of our predominantly self-developed, on-balance-sheet land position and our disciplined approach to balancing affordability and profitability.”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“Our teams also did an excellent job managing costs.”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“We also continued to strengthen our balance sheet, reducing our net debt to capital ratio to 40.6%, a 420 basis point improvement year-over-year.”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“Community growth remains an important element of our long-term strategy.”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“Based on our year-to-date results and current market conditions, we are narrowing our full-year closings guidance and now expect to close between 4,600 and 4,800 homes in 2026.”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“The revised outlook reflects slower sales activity in the quarter as affordability pressures continued to weigh on demand.”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“We continue to see interest in homeownership and are leaning into our proven sales and marketing strategies to improve sales pace while maintaining our disciplined approach to balancing affordability and profitability.”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“As we head into the final quarter of the year, our focus is on finishing 2026 strong.”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“Affordability remains the key consideration for today’s buyers, and we have intentionally broadened our sales process to work with more prospective customers who may need additional time to qualify.”
Eric Lipar, Chairman and Chief Executive Officer of LGI Homes
“With a growing community count, a strengthened balance sheet, and teams that continue to execute at a high level, we believe LGI Homes is well positioned to achieve our full-year objectives and carry that momentum into 2027.”
THE WOODLANDS, Texas, Nov. 03, 2026 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced financial results for the third quarter and the nine months ended September 30, 2026.
“We delivered strong third quarter financial results, generating year-over-year growth in closings, revenue, and earnings while maintaining strong profitability, expanding our community count, and further strengthening our balance sheet,” said Eric Lipar, Chairman and Chief Executive Officer of LGI Homes.
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