LGI Homes: Q2 Earnings Snapshot

THE WOODLANDS, Texas (AP) — THE WOODLANDS, Texas (AP) — LGI Homes Inc. (LGIH) on Tuesday reported second-quarter profit of $58.6 million.

The The Woodlands, Texas-based company said it had profit of $2.48 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.24 per share.

The entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets posted revenue of $602.5 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $634.8 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LGIH at https://www.zacks.com/ap/LGIH