LGI Homes misses by $0.06, misses on revs; guides FY19 EPS in-line
- Reports Q4 (Dec) earnings of $1.72 per share, $0.06 worse than the S&P Capital IQ Consensus of $1.78; revenues rose 5.0% year/year to $425.2 mln vs the $429.46 mln S&P Capital IQ Consensus.
- Co issues in-line guidance for FY19, sees EPS of $7.00-8.00 vs. $7.06 S&P Capital IQ Consensus.
- The Company believes it will have between 105 and 115 active selling communities at the end of 2019, close between 6,900 and 7,800 homes in 2019, and generate basic EPS between $7.00 and $8.00 per share during 2019.
- In addition, the Company believes 2019 gross margin as a percentage of home sales revenues will be in the range of 23.5% and 25.5% and 2019 adjusted gross margin (non-GAAP) as a percentage of home sales revenues will be in the range of 25.5% and 27.5% with capitalized interest accounting for substantially all of the difference between gross margin and adjusted gross margin.
- The Company also believes that the average home sales price in 2019 will be between $235,000 and $245,000.