LGI Homes Reports Preliminary September 2020 Home Closings
October 05 2020 - 6:00AM
LGI Homes, Inc. (NASDAQ: LGIH) in advance of investor meetings,
today announced preliminary September 2020 home closings.
Pending final verification of funding, the
Company expects to close approximately 810 homes in September 2020
compared to 654 home closings in September 2019. The Company plans
to release final September 2020 home closing information after
market close later today.
Eric Lipar, LGI Homes’ Chairman and Chief
Executive Officer, noted, “I am incredibly pleased with our entire
organization’s ability to adapt and deliver these exceptional
results. This was our best September on record and was also the
third best month overall in our Company’s history. These results
demonstrate the success we have had accelerating our pace of starts
to meet demand and underscore the strength of our efficient,
even-flow construction model that enables us to quickly put new
homes on the ground.
We continue to see unprecedented demand across
our markets driven by historically low interest rates, an
undersupply of homes for sale, and a desire among buyers to leave
densely populated areas in favor of the space, safety and
convenience of a single-family home. We believe our business model,
targeted at renters and focused on providing affordable, 100%
move-in ready suburban homes, is uniquely well-positioned to meet
the needs of these buyers now and for the foreseeable future.”
About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI
Homes, Inc. engages in the design, construction and sale of homes
in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North
Carolina, South Carolina, Washington, Tennessee, Minnesota,
Oklahoma, Alabama, California, Oregon, Nevada, West Virginia and
Virginia. Since 2018, LGI Homes has been ranked as the 10th largest
residential builder in the United States based on units closed. The
Company has a notable legacy of more than 17 years of homebuilding
operations, over which time it has closed more than 40,000 homes.
For more information about the Company and its new home
developments, please visit the Company’s website at
www.lgihomes.com.
Forward-Looking Statements
Any statements made in this press release that
are not statements of historical fact, including statements about
the Company’s beliefs and expectations, are forward-looking
statements within the meaning of the federal securities laws, and
should be evaluated as such. Forward-looking statements include
information concerning expected September 2020 home closings. These
forward-looking statements can be identified by the use of
forward-looking terminology, including the terms “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “forecast,”
“goal,” “intend,” “may,” “objective,” “plan,” “potential,”
“predict,” “projection,” “should,” “will” or, in each case, their
negative, or other variations or comparable terminology. For more
information concerning factors that could cause actual results to
differ materially from those contained in the forward-looking
statements please refer to the “Risk Factors” section in the
Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2019, including the “Cautionary Statement about
Forward-Looking Statements” subsection within the “Risk Factors”
section, the “Risk Factors” section in each of the Company’s
Quarterly Reports on Form 10-Q for the quarters ended March 31,
2020 and June 30, 2020, and subsequent filings by the Company with
the Securities and Exchange Commission. The Company bases these
forward-looking statements or projections on its current
expectations, plans and assumptions that it has made in light of
its experience in the industry, as well as its perceptions of
historical trends, current conditions, expected future developments
and other factors it believes are appropriate under the
circumstances and at such time. As you read and consider this press
release, you should understand that these statements are not
guarantees of future performance or results. The forward-looking
statements and projections are subject to and involve risks,
uncertainties and assumptions and you should not place undue
reliance on these forward-looking statements or projections.
Although the Company believes that these forward-looking statements
and projections are based on reasonable assumptions at the time
they are made, you should be aware that many factors could affect
the Company’s actual results to differ materially from those
expressed in the forward-looking statements and projections. The
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. If the Company does update one or more
forward-looking statements, there should be no inference that it
will make additional updates with respect to those or other
forward-looking statements.
CONTACT: Investor RelationsJoshua Fattor, (281)
210-2619InvestorRelations@LGIHomes.com
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