LGI Homes — Apr 29, 2025 release

With this in mind, we are proactively trimming our full year gross margin guidance by 150 basis points at the low end and 100 basis points at the high end to account for these additional costs and the potential for additional market volatility. As a result, we now expect gross margin to range between 21.7% and 23.2% and adjusted gross margin between 24.0% and 25.5%.” Mr. Lipar concluded, “Despite the recent headwinds, we are confident in the long-term outlook for the housing market. The persistent shortage of entry level homes across the country represents a societal challenge that underscores the importance of affordable, new residential construction. Additionally, underlying demographic fundamentals will only amplify this need, laying the groundwork for a long runway of sustained demand for entry-level homes. These structural dynamics provide us with clarity and conviction as we continue to invest in our future growth.” First Quarter 2025 Highlights • Home sales revenues of $351.4 million • Home closings of 996 • Average sales price per home closed of $352,831 • Gross margin as a percentage of home sales revenues of 21.0% • Adjusted gross margin (Non-GAAP) as a percentage of home sales revenues of 23.6% • Net income before income taxes of $5.7 million • Net income of $4.0 million or $0.17 basic EPS and $0.17 diluted EPS • Active selling communities at March 31, 2025 of 146 • Total owned and controlled lots at March 31, 2025 of 67,792 • Ending backlog of 1,040 homes valued at $406.2 million