$LGIH
LGI Homes, Inc.

2017 Q4 Form 10-Q Financial Statement

#000158067017000068 Filed on November 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q4
Revenue $405.0M $365.9M $236.8M
YoY Change 71.0% 69.16% 33.98%
Cost Of Revenue $306.3M $274.0M $172.5M
YoY Change 77.57% 71.81% 32.79%
Gross Profit $98.68M $91.90M $64.33M
YoY Change 53.4% 61.73% 37.19%
Gross Profit Margin 24.37% 25.12% 27.16%
Selling, General & Admin $43.90M $41.45M $30.00M
YoY Change 46.33% 49.52% 29.31%
% of Gross Profit 44.49% 45.1% 46.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $200.0K $200.0K $200.0K
YoY Change 0.0% -33.33% -33.33%
% of Gross Profit 0.2% 0.22% 0.31%
Operating Expenses $43.90M $41.45M $30.00M
YoY Change 46.33% 49.52% 29.31%
Operating Profit $54.78M $50.45M $34.33M
YoY Change 59.57% 73.36% 44.91%
Interest Expense $0.00
YoY Change
% of Operating Profit 0.0%
Other Income/Expense, Net $300.0K $400.0K $600.0K
YoY Change -50.0% 0.0% 50.0%
Pretax Income $55.04M $50.88M $34.95M
YoY Change 57.5% 72.53% 45.06%
Income Tax $18.30M $17.19M $11.70M
% Of Pretax Income 33.25% 33.79% 33.48%
Net Earnings $35.64M $33.69M $23.21M
YoY Change 53.59% 73.05% 47.51%
Net Earnings / Revenue 8.8% 9.21% 9.8%
Basic Earnings Per Share $1.65 $1.55 $1.09
Diluted Earnings Per Share $1.43 $1.40 $1.01
COMMON SHARES
Basic Shares Outstanding 21.74M shares 21.67M shares 21.28M shares
Diluted Shares Outstanding 24.05M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.60M $48.00M $49.50M
YoY Change 36.57% 4.58% 31.65%
Cash & Equivalents $67.57M $47.97M $49.52M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $918.9M $902.6M $717.7M
Prepaid Expenses
Receivables $44.70M $32.70M $17.10M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.031B $983.3M $784.3M
YoY Change 31.48% 33.17% 33.82%
LONG-TERM ASSETS
Property, Plant & Equipment $1.674M $1.862M $1.960M
YoY Change -14.59% -8.59% -7.02%
Goodwill $12.02M $12.02M $12.02M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.80M $16.30M $15.00M
YoY Change 38.67% 41.74% 114.29%
Total Long-Term Assets $48.69M $39.63M $30.21M
YoY Change 61.16% 31.18% -7.32%
TOTAL ASSETS
Total Short-Term Assets $1.031B $983.3M $784.3M
Total Long-Term Assets $48.69M $39.63M $30.21M
Total Assets $1.080B $1.023B $814.5M
YoY Change 32.58% 33.09% 31.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.00M $26.10M $12.30M
YoY Change -2.44% 40.32% -48.75%
Accrued Expenses $43.90M $46.00M $36.40M
YoY Change 20.6% 24.32% 18.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $104.6M $101.5M $53.70M
YoY Change 94.79% 33.91% -11.82%
LONG-TERM LIABILITIES
Long-Term Debt $475.2M $464.1M $400.5M
YoY Change 18.65% 30.77% 31.48%
Other Long-Term Liabilities $10.20M $10.70M $4.900M
YoY Change 108.16% 91.07% 58.06%
Total Long-Term Liabilities $485.4M $474.8M $405.4M
YoY Change 19.73% 31.71% 31.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $104.6M $101.5M $53.70M
Total Long-Term Liabilities $485.4M $474.8M $405.4M
Total Liabilities $590.0M $576.3M $459.3M
YoY Change 28.46% 31.55% 23.7%
SHAREHOLDERS EQUITY
Retained Earnings $276.5M $240.8M $163.2M
YoY Change 69.44% 72.06% 85.12%
Common Stock $228.0K $227.0K $223.0K
YoY Change 2.24% 1.79% 4.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.55M $16.55M $16.55M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 1.000M shares 1.000M shares 1.000M shares
Shareholders Equity $489.8M $446.7M $355.2M
YoY Change
Total Liabilities & Shareholders Equity $1.080B $1.023B $814.5M
YoY Change 32.58% 33.09% 31.65%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q4
OPERATING ACTIVITIES
Net Income $35.64M $33.69M $23.21M
YoY Change 53.59% 73.05% 47.51%
Depreciation, Depletion And Amortization $200.0K $200.0K $200.0K
YoY Change 0.0% -33.33% -33.33%
Cash From Operating Activities $3.700M -$4.500M -$41.20M
YoY Change -108.98% -86.15% -36.42%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$200.0K -$100.0K
YoY Change -100.0% 0.0% -50.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00 -$200.0K -$100.0K
YoY Change -100.0% 0.0% -50.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.90M 25.30M 45.00M
YoY Change -64.67% -12.76% -32.02%
NET CHANGE
Cash From Operating Activities 3.700M -4.500M -41.20M
Cash From Investing Activities 0.000 -200.0K -100.0K
Cash From Financing Activities 15.90M 25.30M 45.00M
Net Change In Cash 19.60M 20.60M 3.700M
YoY Change 429.73% -656.76% 208.33%
FREE CASH FLOW
Cash From Operating Activities $3.700M -$4.500M -$41.20M
Capital Expenditures $0.00 -$200.0K -$100.0K
Free Cash Flow $3.700M -$4.300M -$41.10M
YoY Change -109.0% -86.69% -36.38%

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NetCashProvidedByUsedInFinancingActivities
71125000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-571000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-66963000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-72173000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
19467000 USD
us-gaap Net Income Loss
NetIncomeLoss
51826000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
33687000 USD
us-gaap Net Income Loss
NetIncomeLoss
77666000 USD
CY2016Q4 us-gaap Notes Payable
NotesPayable
400483000 USD
CY2017Q3 us-gaap Notes Payable
NotesPayable
464058000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
6 business
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 business
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
29099000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
77165000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
50447000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
115049000 USD
CY2016Q4 us-gaap Other Assets
OtherAssets
5631000 USD
CY2017Q3 us-gaap Other Assets
OtherAssets
9452000 USD
CY2016Q4 us-gaap Other Liabilities
OtherLiabilities
5446000 USD
CY2017Q3 us-gaap Other Liabilities
OtherLiabilities
10705000 USD
CY2016Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
389000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1560000 USD
CY2017Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
430000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1312000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
571000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
502000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2411000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4375000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
29157000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11049000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
90000000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
80000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-708000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-480000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1325000 USD
CY2016Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1375000 USD
CY2016Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1425000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1600000 USD
CY2017Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1850000 USD
CY2017Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2000000 USD
CY2016Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
723000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2129000 USD
CY2017Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1840000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2789000 USD
CY2016Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
773000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2229000 USD
CY2017Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1990000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3189000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1960000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1862000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
40000000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
15000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
163182000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
240848000 USD
CY2016Q4 us-gaap Retention Payable
RetentionPayable
8506000 USD
CY2017Q3 us-gaap Retention Payable
RetentionPayable
13539000 USD
CY2016Q3 us-gaap Revenues
Revenues
216304000 USD
us-gaap Revenues
Revenues
601490000 USD
CY2017Q3 us-gaap Revenues
Revenues
365896000 USD
us-gaap Revenues
Revenues
852985000 USD
CY2016Q3 us-gaap Selling Expense
SellingExpense
17007000 USD
us-gaap Selling Expense
SellingExpense
48965000 USD
CY2017Q3 us-gaap Selling Expense
SellingExpense
26018000 USD
us-gaap Selling Expense
SellingExpense
66318000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2360000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2677000 USD
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
743554 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
250000 shares
CY2017Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
112798 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
267788 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
9858000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1085000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
355201000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
446654000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1000000 shares
CY2017Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
1000000 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
16550000 USD
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
16550000 USD
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22674021 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21654284 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24050385 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23413467 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21061874 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20633200 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21668585 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21544747 shares

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