Quarter ended March 31, 2026.
| Closings | 881 (↓11.5%) |
| Revenue | $319.7M (↓9%) |
| Gross margin | 18.7% |
| Orders | 1,221 |
From the call
“We run just above 20% of our ASP in finished lot costs and feel pretty confident in that number going forward.”
Self-developing land keeps LGI’s lot cost near 20% of the sales price. Backlog rose 63%, but 45.6% of buyers cancelled over financing.
Source: LGI Homes 8-K and earnings call.
