$LGIH
LGI Homes, Inc.

2024 Q4 Form 10-Q Financial Statement

#000158067024000052 Filed on November 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $651.9M
YoY Change 5.56%
Cost Of Revenue $488.4M
YoY Change 6.46%
Gross Profit $163.5M
YoY Change 2.95%
Gross Profit Margin 25.08%
Selling, General & Admin $83.19M
YoY Change 8.7%
% of Gross Profit 50.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $830.0K
YoY Change 3.75%
% of Gross Profit 0.51%
Operating Expenses $83.19M
YoY Change 8.7%
Operating Profit $80.31M
YoY Change -2.4%
Interest Expense $0.00
YoY Change
% of Operating Profit 0.0%
Other Income/Expense, Net $11.55M
YoY Change 60.38%
Pretax Income $91.85M
YoY Change 2.69%
Income Tax $22.28M
% Of Pretax Income 24.25%
Net Earnings $69.58M
YoY Change 3.78%
Net Earnings / Revenue 10.67%
Basic Earnings Per Share $2.96
Diluted Earnings Per Share $2.95
COMMON SHARES
Basic Shares Outstanding 23.51M shares 23.50M shares
Diluted Shares Outstanding 23.58M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.90M
YoY Change 29.58%
Cash & Equivalents $60.90M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $3.394B
Prepaid Expenses
Receivables $49.02M
Other Receivables $0.00
Total Short-Term Assets $3.504B
YoY Change 15.99%
LONG-TERM ASSETS
Property, Plant & Equipment $62.00M
YoY Change 48.07%
Goodwill $12.02M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $45.74M
YoY Change -61.53%
Other Assets $42.82M
YoY Change -3.34%
Total Long-Term Assets $322.0M
YoY Change 2.47%
TOTAL ASSETS
Total Short-Term Assets $3.504B
Total Long-Term Assets $322.0M
Total Assets $3.826B
YoY Change 14.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $53.31M
YoY Change -20.78%
Accrued Expenses $134.6M
YoY Change 11.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $216.8M
YoY Change 3.28%
LONG-TERM LIABILITIES
Long-Term Debt $1.592B
YoY Change 21.61%
Other Long-Term Liabilities $19.89M
YoY Change 50.71%
Total Long-Term Liabilities $1.612B
YoY Change 21.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $216.8M
Total Long-Term Liabilities $1.612B
Total Liabilities $1.829B
YoY Change 19.35%
SHAREHOLDERS EQUITY
Retained Earnings $2.035B
YoY Change 10.74%
Common Stock $276.0K
YoY Change 0.36%
Preferred Stock
YoY Change
Treasury Stock (at cost) $373.0M
YoY Change 5.07%
Treasury Stock Shares
Shareholders Equity $1.997B
YoY Change
Total Liabilities & Shareholders Equity $3.826B
YoY Change 14.72%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $69.58M
YoY Change 3.78%
Depreciation, Depletion And Amortization $830.0K
YoY Change 3.75%
Cash From Operating Activities -$17.76M
YoY Change -84.62%
INVESTING ACTIVITIES
Capital Expenditures $64.00K
YoY Change -87.2%
Acquisitions
YoY Change
Other Investing Activities -$3.649M
YoY Change 3549.0%
Cash From Investing Activities -$3.713M
YoY Change 364.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 31.31M
YoY Change -73.91%
NET CHANGE
Cash From Operating Activities -17.76M
Cash From Investing Activities -3.713M
Cash From Financing Activities 31.31M
Net Change In Cash 9.832M
YoY Change 165.73%
FREE CASH FLOW
Cash From Operating Activities -$17.76M
Capital Expenditures $64.00K
Free Cash Flow -$17.83M
YoY Change -84.63%

Facts In Submission

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<div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates, and these differences could have a significant impact on the financial statements.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Recently Issued Accounting Pronouncements</span></div><div style="margin-top:6pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which is intended to enhance the transparency and decision usefulness of income tax disclosures. This amendment modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation and additional information for reconciling items that meet a quantitative threshold, (2) the amount of income taxes paid (net of refunds received) (disaggregated by federal, state, and foreign taxes) as well as individual jurisdictions in which income taxes paid is equal to or greater than 5 percent of total income taxes paid net of refunds, (3) the income or loss from continuing operations before income tax expense or benefit (disaggregated between domestic and foreign) and (4) income tax expense or benefit from continuing operations (disaggregated by federal, state and foreign). The guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted for annual financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, while retrospective application is permitted. We are currently evaluating the impact that this standard will have on our financial statements.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which is intended to improve reportable segment disclosure requirements, primarily through additional and more detailed information about a reportable segment’s expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently evaluating the impact that this standard will have on our financial statements.</span></div>
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us-gaap Operating Lease Payments
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q3 us-gaap Revenues
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651854000 usd
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