LGIH: June Closings Increase ~9% YoY, Absorptions Improve ~5%

研报英文原文证据摘录

LGIH: June Closings Increase ~9% YoY, Absorptions Improve ~5%

Homebuilders & Building Products

Homebuilders - Market Weight

LGI HOMES, INC. (LGIH) July 6, 2026

LGIH: June Closings Increase ~9% YoY, Absorptions Rating:

Improve ~5% Peer Perform

Price:

$59.74

The Wolfe Byte Price Target:

June Closings were in-line with our estimate and were up +8.5% YoY. Absorptions NA

remain weak on an absolute basis. View LGIH Model

View Comp Table

LGIH reported June Closings improved +8.5% YoY to 496, which was in-line with Company Information

our 495 expectations. June Closings include the sale of 29 currently or previously 52-Week Range $34 - $67 Market Cap. (MM) $1,388

leased homes that combine with 22 such sales in April and 24 in May (75 2Q total) Enterprise Value (MM) $3,041

that will flow through the Other Income line on the Income Statement. 2Q Closings Shares Out. (MM) 23.2

Avg. Value Traded (MM) $16.40

of 1,440 (+8.8%) were in-line with our 1,439 projection. Community Count increased Adj. Debt to Cap 0.1%

to 151 in June from 150 in May. CC has averaged ~150 the past two months, a level SI% of Float 16.1%

not seen since Feb ’25. Prior to April, CC had been range-bound between 140 and Price to Earnings 18x Price/ Tangible Value 0.6x

148 the past 14 months, averaging 143.

Price Performance

YTD LTM

Absorptions increased +4.9% YoY to 3.3 from 3.1 and have been flat the past two LGIH 39% 6%

months. For 2Q, Absorptions were 9.6 up +6.2% YoY from 9.1 a year ago. Historically, S&P 500 10% 21%

June Absorptions have averaged 6.7 and 2Q has averaged 19.2 or 6.4 monthly, 70

implying ~50% and ~51% declines, respectively. We note our 2H26 monthly Closing 65

forecasts imply Absorptions 51% below historical averages. 6055