Yahoo Finance LGI Homes Earnings: What To Look For From LGIH
Affordable single-family home construction company LGI Homes (NASDAQ:LGIH) will be reporting results tomorrow morning. Here's what to expect.
LGI Homes missed analysts' revenue expectations by 4% last quarter, reporting revenues of $390.9 million, down 19.8% year on year. It was a slower quarter for the company, with a miss of analysts' earnings estimates.
Is LGI Homes a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting LGI Homes's revenue to decline 4.3% year on year to $617.4 million, improving from the 10.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.27 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. LGI Homes has missed Wall Street's revenue estimates five times over the last two years.
Looking at LGI Homes's peers in the home builders segment, some have already reported their Q2 results, giving us a hint as to what we can expect. KB Home's revenues decreased 3.1% year on year, beating analysts' expectations by 3.4%, and Tri Pointe Homes reported revenues up 37.9%, topping estimates by 8.4%. KB Home traded up 2.8% following the results while Tri Pointe Homes was also up 1.7%.
Read our full analysis of KB Home's results here and Tri Pointe Homes's results here.
There has been positive sentiment among investors in the home builders segment, with share prices up 10.9% on average over the last month. LGI Homes is up 26.4% during the same time and is heading into earnings with an average analyst price target of $109 (compared to the current share price of $112.29).
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