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LGI Homes tops Street 4Q forecasts


THE WOODLANDS, Texas (AP) _ LGI Homes Inc. (LGIH) on Tuesday reported fourth-quarter earnings of $35.6 million. The The Woodlands, Texas-based company said it had profit of $1.43 per share. The results exceeded Wall Street expectations. The average ...


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THE WOODLANDS, Texas (AP) _ LGI Homes Inc(LGIH) on Tuesday reported fourth-quarter earnings of $35.6 million. The The Woodlands, Texas-based company said it had profit of $1.43 per share. The results exceeded Wall Street expectationsThe average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share. The entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets posted revenue of $405 million in the period, also exceeding Street forecastsFour analysts surveyed by Zacks expected $381 million. For the year, the company reported profit of $113.3 million, or $4.73 per shareRevenue was reported as $1.26 billion. LGI Homes expects full-year earnings to be $6 to $7 per share. LGI Homes shares have fallen 15 percent since the beginning of the yearThe stock has more than doubled in the last 12 months. 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