Lgi Homes, Inc. · NASDAQ:LGIH
Lgi Homes — Q2 2024 Earnings Presentation
14 slides from Lgi Homes's earnings presentation, Jul 30, 2024
Slide 1: Investor Presentation Second Quarter 2024
INVESTOR PRESENTATION Second Quarter 2024
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT Forward-Looking Statements This presentation includes statements concerning our expectations, beliefs, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are not historical facts. These statements are “forward-
Slide 3: Recent Financial Results
RECENT FINANCIAL RESULTS Second Quarter 2024 Year-to-Date 2024 ► Home Closings: 1,655, (10.7%) ► Home Closings: 2,738, (15.0%) ► Home Sales Revenue: $602.5 Million, (6.6%) ► Home Sales Revenue: $993.3 Million, (12.3%) ► Average Sales Price: $364,047, +4.6% ► Average Sales Price: $362,801, +3.1% ► En
Slide 4: Historical Operating Results
HISTORICAL OPERATING RESULTS Home Closings (Units) Revenue ($ millions) 10,442 $3,050 9,339 7,690 $2,368 $2,304 $2,359 $2,219 6,512 6,621 6,729 6,247 5,845 $1,838 $1,504 4,163 $1,258 3,404 2,356 $838 $630 $383 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 LTM 2014 2015 2016 2017 2018 2019 2020 2
Slide 5: Historical Margins & Profitability
HISTORICAL MARGINS & PROFITABILITY Gross Margin Percentage (1) (2) Adjusted Gross Margin Percentage (2) (3) 26.8% 26.5% 26.4% 26.8% 28.1% 25.5% 25.3% 25.5% 24.5% 29.2% 23.7% 23.0% 28.2% 27.8% 27.8% 26.9% 27.0% 27.4% 28.2% 25.8% 26.2% 24.7% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 LTM 2014 2
Slide 6: Balance Sheet
BALANCE SHEET INVESTING IN FUTURE COMMUNITY COUNT GROWTH December 31, December 31, December 31, December 31, December 31, June 30, ($ in thousands) 2019 2020 2021 2022 2023 2024 ASSETS Cash and Cash Equivalents $ 38,345 $ 35,942 $ 50,514 $ 31,998 $ 48,978 $ 51,071 Accounts Receivable 56,390 115,939
Slide 7: Inventory Management
FOCUS ON THE FUTURE INVENTORY MANAGEMENT (1) (1) (1) (2) Total Lot Inventory (Units) Owned Lot Inventory (Units) Owned Real Estate Inventory ($ Value) Owned 77.8% 3.7% 4.9% 17.0% 22.2% 19.1% 69,904 54,362 17.1% $3.3 Billion Total Lots 56.2% Owned Lots 21.6% 66.0% 72.3% Raw or Under Development Owned
Slide 8: Quarterly Share Repurchases
QUARTERLY SHARE REPURCHASES Total Value of Shares of Common Stock Repurchased During Each Quarter ($ Millions) During the three months ended June 30, 2024, 83,763 shares of LGI Homes common stock $57.7 $55.8 $56.1 $56.1 were repurchased for $8 million Since Q4’18, 3,112,462 $37.4 shares have been re
Slide 9: Appendix
APPENDIX
Slide 10: Historical Second Quarter Operating Results
HISTORICAL SECOND QUARTER OPERATING RESULTS QUARTERS ENDED JUNE 30TH Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Q2 2020 Q2 2021 Q2 2022 Q2 2023 Q2 2024 Home Closings 662 853 1,128 1,511 1,815 1,944 2,005 2,856 2,027 1,854 1,655 Average Active Communities 30.0 44.3 55.7 71.3 78.0 93.0 116.0 105.
Slide 11: Historical Annual Operating Results
HISTORICAL ANNUAL OPERATING RESULTS FISCAL YEARS ENDED DECEMBER 31 ST & LAST TWELVE MONTHS ENDED JUNE 30, 2024 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 LTM (1) Home Closings 2,356 3,404 4,163 5,845 6,512 7,690 9,339 10,442 6,621 6,729 6,247 Average Active Commu
Slide 12: Reconciliation of Adjusted Gross Margin (Non-GAAP)
RECONCILIATION OF ADJUSTED GROSS MARGIN (NON-GAAP) SECOND QUARTERS ENDED JUNE 30 TH ($ in thousands) Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Q2 2020 Q2 2021 Q2 2022 Q2 2023 Q2 2024 Home Sales Revenues $106,412 $158,826 $222,723 $324,178 $419,847 $461,830 $481,602 $791,512 $723,069 $645,270 $
Slide 13: Reconciliation of Adjusted Gross Margin (Non-GAAP)
RECONCILIATION OF ADJUSTED GROSS MARGIN (NON-GAAP) FISCAL YEARS ENDED DECEMBER 31 ST & LAST TWELVE MONTHS ENDED JUNE 30, 2024 (1) ($ in thousands) FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 LTM Home Sales Revenues $383,268 $630,236 $838,320 $1,257,960 $1,504,400
Slide 14: LGI Homes, Inc. Investor Relations
LGI Homes, Inc. Investor Relations 1450 Lake Robbins Drive, Suite 430 The Woodlands, TX 77380 (281) 210-2586 investorrelations@lgihomes.com