LGI Homes Sees FY23 Home Closings 6,700-7,000

Author: Benzinga Newsdesk | October 31, 2023 07:08am
Subject to the caveats in the Forward-Looking Statements section of this press release, the Company is providing the following updates to its guidance for the full year 2023. The Company now expects: Home closings between 6,700 and 7,000 Active selling communities at the end of 2023 between 115 and 125 Average sales price per home closed between $350,000 and $355,000 Gross margin as a percentage of home sales revenues between 23.0% and 23.5% Adjusted gross margin (non-GAAP) as a percentage of home sales revenues between 24.5% and 25.0% with capitalized interest accounting for the majority of the difference between gross margin and adjusted gross margin SG&A as a percentage of home sales revenues of approximately 13.0% Effective tax rate of approximately 24.0%

Posted In: LGIH