LGI Homes — Feb 25, 2025 release

We will continue to lean into incentives while maintaining profitability metrics in-line with our historical averages, supported by a self-developed land pipeline that enables us to deliver margins at or near the top of our peer group. With this in mind, we are projecting full year gross margin between 23.2% and 24.2% and adjusted gross margin between 25.5% and 26.5%.” Mr. Lipar concluded, “As we look out to 2025, we are staying the course and remain committed to driving profitability through operational discipline and positioning LGI Homes for sustainable success. I thank our team members for their dedication and congratulate them all on the successful results they delivered in 2024. I'm confident in the talent and experience we’ve built here at LGI Homes and believe we are well-positioned to navigate whatever comes our way in 2025.” Fourth Quarter 2024 Highlights (comparisons to fourth quarter 2023) • Home sales revenues decreased 8.4% to $557.4 million • Home closings decreased 12.8% to 1,533 homes • Average sales price per home closed increased 5.1% to $363,598 • Gross margin as a percentage of home sales revenues decreased 50 basis points to 22.9%. • Adjusted gross margin (non-GAAP) as a percentage of home sales revenues increased 10 basis points to 25.2% • Net income before income taxes decreased 2.1% to $67.1 million • Net income decreased 2.3% to $50.9 million, or $2.16 basic EPS and $2.15 diluted EPS Full Year 2024 Highlights (comparisons to full year 2023) • Home sales revenues decreased 6.6% to $2.2 billion • Home closings decreased