LGI Homes Q1 2024 GAAP EPS $0.72 Misses $1.00 Estimate, Sales $390.851M Miss $400.005M Estimate
Portfolio Pulse from Benzinga Newsdesk
LGI Homes (NASDAQ:LGIH) reported Q1 2024 earnings of $0.72 per share, missing the $1.00 estimate, and sales of $390.851M, below the $400.005M estimate. This represents a 36.84% decrease in earnings and a 19.80% decrease in sales from the same period last year.
April 30, 2024 | 11:05 am
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NEGATIVE IMPACT
LGI Homes reported a significant miss in both earnings per share and sales for Q1 2024, with earnings per share at $0.72 vs. the $1.00 estimate and sales at $390.851M vs. the $400.005M estimate.
The significant miss in both earnings per share and sales compared to analyst estimates, along with a notable year-over-year decline in these metrics, is likely to negatively impact investor sentiment and the stock price of LGI Homes in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100