$LGIH
LGI Homes, Inc.

2018 Q2 Form 10-Q Financial Statement

#000158067018000051 Filed on August 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $419.8M $324.2M
YoY Change 29.51% 45.55%
Cost Of Revenue $310.1M $237.8M
YoY Change 30.38% 45.35%
Gross Profit $109.8M $86.35M
YoY Change 27.12% 46.12%
Gross Profit Margin 26.14% 26.64%
Selling, General & Admin $47.60M $37.87M
YoY Change 25.69% 33.57%
% of Gross Profit 43.37% 43.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $200.0K $200.0K
YoY Change 0.0% 0.0%
% of Gross Profit 0.18% 0.23%
Operating Expenses $47.60M $37.87M
YoY Change 25.69% 33.57%
Operating Profit $62.16M $48.48M
YoY Change 28.24% 57.69%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit 0.0% 0.0%
Other Income/Expense, Net $500.0K $200.0K
YoY Change 150.0% -71.43%
Pretax Income $62.67M $48.64M
YoY Change 28.84% 54.87%
Income Tax $15.06M $16.44M
% Of Pretax Income 24.04% 33.8%
Net Earnings $47.61M $32.20M
YoY Change 47.86% 55.86%
Net Earnings / Revenue 11.34% 9.93%
Basic Earnings Per Share $2.11 $1.49
Diluted Earnings Per Share $1.90 $1.39
COMMON SHARES
Basic Shares Outstanding 22.62M shares 21.60M shares
Diluted Shares Outstanding 25.00M shares 23.24M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.90M $27.30M
YoY Change 79.12% -45.07%
Cash & Equivalents $48.89M $27.30M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.063B $836.0M
Prepaid Expenses
Receivables $31.70M $34.10M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.143B $897.4M
YoY Change 27.4% 33.01%
LONG-TERM ASSETS
Property, Plant & Equipment $1.675M $1.877M
YoY Change -10.76% -3.74%
Goodwill $12.02M $12.02M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $31.70M $13.90M
YoY Change 128.06% 9.45%
Total Long-Term Assets $56.62M $34.28M
YoY Change 65.17% 4.68%
TOTAL ASSETS
Total Short-Term Assets $1.143B $897.4M
Total Long-Term Assets $56.62M $34.28M
Total Assets $1.200B $931.7M
YoY Change 28.79% 31.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.90M $19.00M
YoY Change 4.74% -13.64%
Accrued Expenses $42.40M $43.00M
YoY Change -1.4% 37.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $66.20M $74.50M
YoY Change -11.14% 16.22%
LONG-TERM LIABILITIES
Long-Term Debt $554.5M $442.9M
YoY Change 25.2% 32.53%
Other Long-Term Liabilities $10.50M $7.900M
YoY Change 32.91% 33.9%
Total Long-Term Liabilities $565.0M $450.8M
YoY Change 25.33% 32.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.20M $74.50M
Total Long-Term Liabilities $565.0M $450.8M
Total Liabilities $631.2M $525.3M
YoY Change 20.16% 29.22%
SHAREHOLDERS EQUITY
Retained Earnings $351.4M $207.2M
YoY Change 69.63% 71.9%
Common Stock $236.0K $226.0K
YoY Change 4.42% 2.73%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.55M $16.55M
YoY Change 0.0% 0.0%
Treasury Stock Shares 1.000M shares 1.000M shares
Shareholders Equity $568.7M $406.4M
YoY Change
Total Liabilities & Shareholders Equity $1.200B $931.7M
YoY Change 28.79% 31.7%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $47.61M $32.20M
YoY Change 47.86% 55.86%
Depreciation, Depletion And Amortization $200.0K $200.0K
YoY Change 0.0% 0.0%
Cash From Operating Activities $15.20M -$20.50M
YoY Change -174.15% -14.58%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$100.0K
YoY Change 100.0% -50.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$200.0K -$100.0K
YoY Change 100.0% -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 -18.10M 16.30M
YoY Change -211.04% -37.79%
NET CHANGE
Cash From Operating Activities 15.20M -20.50M
Cash From Investing Activities -200.0K -100.0K
Cash From Financing Activities -18.10M 16.30M
Net Change In Cash -3.100M -4.300M
YoY Change -27.91% -315.0%
FREE CASH FLOW
Cash From Operating Activities $15.20M -$20.50M
Capital Expenditures -$200.0K -$100.0K
Free Cash Flow $15.40M -$20.40M
YoY Change -175.49% -14.29%

Facts In Submission

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10518000 USD
CY2018Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
509000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
866000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
323000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
367000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4359000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3923000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5503000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1445000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
60000000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
120000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-308000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-132000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1600000 USD
CY2017Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1650000 USD
CY2017Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1850000 USD
CY2017Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2450000 USD
CY2018Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2600000 USD
CY2018Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2800000 USD
CY2017Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
647000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
949000 USD
CY2018Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
495000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1333000 USD
CY2017Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
847000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1199000 USD
CY2018Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
695000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1683000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1674000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1675000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
15000000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
40038000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
276488000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
351398000 USD
CY2017Q4 us-gaap Retention Payable
RetentionPayable
12025000 USD
CY2018Q2 us-gaap Retention Payable
RetentionPayable
16092000 USD
CY2017Q2 us-gaap Revenues
Revenues
324178000 USD
us-gaap Revenues
Revenues
487089000 USD
CY2018Q2 us-gaap Revenues
Revenues
419847000 USD
us-gaap Revenues
Revenues
698871000 USD
CY2017Q2 us-gaap Selling Expense
SellingExpense
24193000 USD
us-gaap Selling Expense
SellingExpense
40300000 USD
CY2018Q2 us-gaap Selling Expense
SellingExpense
29301000 USD
us-gaap Selling Expense
SellingExpense
52250000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1580000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2770000 USD
CY2017Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
4990 shares
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
489846000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
568682000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1000000 shares
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1000000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
16550000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
16550000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23242589 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23032648 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25000647 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24884628 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21602261 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21481842 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22616085 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22403266 shares
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
530000 USD

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