Form 8-K

8-K — LGI Homes, Inc.

Accession: 0001580670-26-000069

Filed: 2026-08-04

Period: 2026-08-04

CIK: 0001580670

SIC: 1531 (OPERATIVE BUILDERS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — lgih-20260804.htm (Primary)

EX-99.1 (a06302026ex991earningsrele.htm)

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XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (date of earliest event reported): August 4, 2026

LGI HOMES, INC.

(Exact name of registrant as specified in its charter)

Delaware 001-36126 46-3088013

(State or other jurisdiction

of incorporation) (Commission

File Number) (IRS Employer

Identification Number)

1450 Lake Robbins Drive, Suite 430, The Woodlands, Texas 77380

(Address of principal executive offices) (Zip Code)

(281) 362-8998

(Registrant’s Telephone Number, Including Area Code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading symbol(s) Name of each exchange on which registered

Common Stock, par value $0.01 per share LGIH

Nasdaq Global Select Market

Nasdaq Texas, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 4, 2026, LGI Homes, Inc. (the “Company”) issued a press release announcing its financial results for the three months ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

None of the information furnished in this Item 2.02 and the accompanying exhibit will be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor will it be deemed incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended.

Item 7.01 Regulation FD Disclosure.

The information set forth in Item 2.02 above and in Exhibit 99.1 to this Current Report on Form 8-K is incorporated herein by reference.

None of the information furnished in this Item 7.01 and the accompanying exhibit will be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor will it be deemed incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1

Press Release of LGI Homes, Inc. issued on August 4, 2026.

104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: August 4, 2026

LGI HOMES, INC.

By: /s/ Eric Lipar

Eric Lipar

Chief Executive Officer and Chairman of the Board

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EXHIBIT 99.1

LGI Homes, Inc. Reports Strong Second Quarter 2026 Results and Increases Full-Year 2026 Average Sales Price and Homebuilding Gross Margin Guidance Ranges

THE WOODLANDS, Texas, August 4, 2026 (GLOBE NEWSWIRE) - LGI Homes, Inc. (NASDAQ: LGIH) today announced financial results for the second quarter and the six months ended June 30, 2026.

“We delivered strong results during the second quarter, exceeding expectations across key metrics while navigating a dynamic operating environment,” said Eric Lipar, Chairman and Chief Executive Officer of LGI Homes.

“During the quarter, we delivered 1,440 homes, an 8.8% increase year-over-year, generating total revenues of $516.0 million and homebuilding revenues of $501.5 million.

“We ended the quarter with 151 active communities, achieving the low end of our full-year guidance just six months into the year, and representing an increase of 3.4% compared to the same time last year.

“Homebuilding gross margin of 19.8% and adjusted homebuilding gross margin of 23.2% both exceeded the midpoint of our previously increased guidance range, reflecting our disciplined approach to pricing, incentives, and inventory management and the continued benefits of our self-development platform.

“We made significant progress strengthening our balance sheet during the quarter, reducing debt by $128.6 million and ending the period with a debt-to-capital ratio of 42.6%, a 220 basis point improvement year-over-year.

“On the strength of our outperformance in the first half of the year, we are raising our full-year gross margin guidance for the second consecutive quarter. We now expect our homebuilding gross margin will range between 19.0% and 21.0% and adjusted homebuilding gross margin between 22.5% and 24.5%. We are also raising the guidance for our full-year average sales price per home closed to between $360,000 and $370,000.”

Mr. Lipar concluded, “With strong visibility into the second half of the year, we are confident in achieving all of our objectives for 2026 and remain focused on balancing sales pace, profitability, and inventory management as we create long-term value for our shareholders.”

Second Quarter 2026 Highlights

•Homebuilding revenues of $501.5 million, an increase of 3.7%

•Total home closings of 1,440, including 75 currently and previously leased homes, an increase of 8.8%

•Home closings of 1,365, an increase of 3.2%

•Average sales price per home closed of $367,407, an increase of 0.5%

•Homebuilding gross margin as a percentage of homebuilding revenues of 19.8%

•Adjusted homebuilding gross margin* as a percentage of homebuilding revenues of 23.2%

•Net income before income taxes of $36.6 million

•Net income of $27.0 million or $1.16 basic EPS and $1.16 diluted EPS

Six Months Ended June 30, 2026 Highlights

•Homebuilding revenues of $821.2 million, a decrease of 1.6%

•Total home closings of 2,356, including 110 currently and previously leased homes, an increase of 1.6%

•Home closings of 2,246, a decrease of 3.1%

•Average sales price per home closed of $365,649, an increase of 1.6%

•Homebuilding gross margin as a percentage of homebuilding revenues of 19.4%

•Homebuilding gross margin excluding inventory impairment* as a percentage of homebuilding revenues of 20.0%

•Adjusted homebuilding gross margin* as a percentage of homebuilding revenues of 23.3%

•Net income before income taxes of $40.9 million

•Net income of $29.1 million or $1.26 basic EPS and $1.25 diluted EPS

•Adjusted net income* of $32.6 million, or $1.41 adjusted basic EPS* and $1.40 adjusted diluted EPS*

*Please see “Non-GAAP Measures” for a reconciliation of Homebuilding Gross Margin Excluding Inventory Impairment (a non-GAAP measure) and Adjusted Homebuilding Gross Margin (a non-GAAP measure) to Homebuilding Gross Margin, and Adjusted Net Income (a non-GAAP measure) to Net Income, the most directly comparable GAAP measures, and for calculations of adjusted basic EPS and adjusted diluted EPS.

Balance Sheet Highlights

•Total liquidity of $468.0 million at June 30, 2026, including cash and cash equivalents of $61.1 million and $406.9 million of availability under the Company’s revolving credit facility

•Net debt to capital ratio* of 41.6% at June 30, 2026

*Please see “Non-GAAP Measures” for a reconciliation of net debt to capital ratio (a non-GAAP measure) to debt to capital ratio, the most directly comparable GAAP measure.

Full Year 2026 Outlook

Subject to the caveats in the Forward-Looking Statements section of this press release and the assumptions noted below, the Company is updating its average sales price per home closed, homebuilding gross margin, and adjusted homebuilding gross margin as a percentage of homebuilding revenues outlook for the full year 2026 and reiterating its other outlook items for the full year 2026. Currently, the Company expects for full year 2026:

•Home closings between 4,600 and 5,400

•Active selling communities at the end of 2026 between 150 and 160

•Average sales price per home closed between $360,000 and $370,000

•Homebuilding gross margin as a percentage of homebuilding revenues between 19.0% and 21.0%, adjusted for estimated capitalized interest and estimated purchase accounting of approximately 3.5%, which results in adjusted homebuilding gross margin (non-GAAP) as a percentage of homebuilding revenues between 22.5% and 24.5%

•SG&A as a percentage of total revenues between 15.0% and 16.0%

•Effective tax rate of approximately 26.5%

This outlook assumes that general economic conditions, including input costs, materials, product and labor availability, interest rates and mortgage availability, in the remainder of 2026 are similar to those experienced to date in 2026 and that construction costs, availability of land and land development costs for the remainder of 2026 are consistent with the Company’s recent experience. In addition, this outlook assumes that governmental regulations relating to land development and home construction are similar to those currently in place and does not take into account any additional changes to U.S. trade policies, including the imposition of tariffs and duties on homebuilding products.

Earnings Conference Call

The Company will host a conference call via live webcast for investors and other interested parties beginning at 12:30 p.m. Eastern Time on Tuesday, August 4, 2026 (the “Earnings Call”).

Participants may access the live webcast by visiting the Investor Relations section of the Company’s website at https://investor.lgihomes.com.

An archive of the Earnings Call webcast will be available for replay on the Company’s website for one year from the date of the Earnings Call.

About LGI Homes, Inc.

Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. LGI Homes has closed over 80,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek’s list of the World’s Most Trustworthy Companies. LGI Homes’ commitment to excellence extends to its employees, earning the Company numerous workplace awards at the local, state, and national level, including the Top Workplaces USA 2026 Award. For more information about LGI Homes and its unique operating model focused on making the dream of homeownership a reality for families across the nation, please visit the Company’s website at www.lgihomes.com.

Forward-Looking Statements

Any statements made in this press release or on the Earnings Call that are not statements of historical fact, including statements about the Company’s beliefs, outlook and expectations, are forward-looking statements within the meaning of the federal securities laws, and should be evaluated as such. Forward-looking statements include information concerning expected 2026 home closings, active selling communities, average sales price per home closed, homebuilding gross margin as a percentage of homebuilding revenues, adjusted homebuilding gross margin as a percentage of homebuilding revenues, SG&A as a percentage of total revenues and effective tax rate, as well as market conditions and possible or assumed future results of operations, including descriptions of the Company’s business plan and strategies. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “predict,” “projection,” “should,” “will” or, in each case, their negative, or other variations or comparable terminology. For more information concerning factors that could cause actual results to differ materially from those contained in the forward-looking statements please refer to the “Risk Factors” section in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, including the “Cautionary Statement about Forward-Looking Statements” subsection within the “Risk Factors” section, and subsequent filings by the Company with the U.S. Securities and Exchange Commission (the “SEC”), including the “Risk Factors” and “Cautionary Statement about Forward-Looking Statements” sections in the Company’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026 (when it is filed with the SEC). The Company bases these forward-looking statements or outlook on its current expectations, plans and assumptions that it has made in light of its experience in the industry, as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances and at such time. As you read and consider this press release or listen to the Earnings Call, you should understand that these statements are not guarantees of future performance or results. The forward-looking statements, including the Company’s 2026 outlook, are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or outlook. Although the Company believes that these forward-looking statements and outlook are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect the Company’s actual results to differ materially from those expressed in the forward-looking statements and outlook. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. If the Company does update one or more forward-looking statements, there should be no inference that it will make additional updates with respect to those or other forward-looking statements.

LGI HOMES, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands, except share data)

June 30, December 31,

2026 2025

ASSETS

Cash and cash equivalents $ 61,081 $ 61,247

Accounts receivable 33,850 32,467

Real estate inventory 3,512,613 3,555,602

Pre-acquisition costs and deposits 19,248 28,950

Property and equipment, net 149,579 107,145

Other assets 119,812 119,909

Deferred tax assets, net 10,392 9,904

Goodwill 12,018 12,018

Total assets $ 3,918,593 $ 3,927,242

LIABILITIES AND EQUITY

Accounts payable $ 58,750 $ 16,179

Accrued expenses and other liabilities 146,280 157,971

Notes payable, net 1,580,907 1,656,803

Total liabilities 1,785,937 1,830,953

COMMITMENTS AND CONTINGENCIES

EQUITY

Common stock, par value $0.01, 250,000,000 shares authorized, 27,904,864 shares issued and 23,248,272 shares outstanding as of June 30, 2026 and 27,789,678 shares issued and 23,133,086 shares outstanding as of December 31, 2025

279 277

Additional paid-in capital 354,476 347,308

Retained earnings 2,187,483 2,158,339

Treasury stock, at cost, 4,656,592 shares as of June 30, 2026 and December 31, 2025

(409,582) (409,635)

Total equity 2,132,656 2,096,289

Total liabilities and equity $ 3,918,593 $ 3,927,242

LGI HOMES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In thousands, except share and per share data)

Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

Revenues

Homebuilding revenues $ 501,511 $ 483,485 $ 821,247 $ 834,905

Land and other revenues 14,537 $ 4,757 $ 27,677 $ 36,725

Total revenues 516,048 $ 488,242 $ 848,924 $ 871,630

Cost of sales

Homebuilding costs 402,117 372,877 661,924 650,584

Land and other costs 12,235 5,725 24,175 32,729

Total cost of sales 414,352 378,602 686,099 683,313

Selling expenses 44,149 41,599 76,799 83,941

General and administrative 28,571 29,401 56,432 60,603

Other income, net (7,615) (3,400) (11,316) (3,991)

Net income before income taxes 36,591 42,040 40,910 47,764

Income tax provision 9,607 10,507 11,766 12,237

Net income $ 26,984 $ 31,533 $ 29,144 $ 35,527

Earnings per share:

Basic $ 1.16 $ 1.36 $ 1.26 $ 1.52

Diluted $ 1.16 $ 1.36 $ 1.25 $ 1.52

Weighted average shares outstanding:

Basic 23,201,571 23,221,565 23,191,411 23,308,534

Diluted 23,279,553 23,265,062 23,248,046 23,364,957

Homebuilding Revenues, Home Closings, Average Sales Price Per Home Closed (ASP), Average Community Count, Average Monthly Absorption Rate, and Ending Community Count by Reportable Segment

(Revenues in thousands, unaudited)

Three Months Ended June 30, 2026 As of June 30, 2026

Reportable Segment Homebuilding Revenues Home Closings ASP Average Community Count Average Monthly Absorption Rate Community Count at End of Period

Central $ 127,777 419 $ 304,957 50.0 2.8 50

Southeast 108,145 323 334,814 29.7 3.6 30

Northwest 59,605 121 492,603 17.0 2.4 17

West 134,609 299 450,197 28.7 3.5 29

Florida 71,375 203 351,601 24.3 2.8 25

Total $ 501,511 1,365 $ 367,407 149.7 3.0 151

Three Months Ended June 30, 2025 As of June 30, 2025

Reportable Segment Homebuilding Revenues Home Closings ASP Average Community Count Average Monthly Absorption Rate Community Count at End of Period

Central $ 112,986 360 $ 313,850 47.3 2.5 46

Southeast 150,110 456 329,189 33.7 4.5 35

Northwest 53,487 100 534,870 16.0 2.1 16

West 100,339 230 436,257 24.7 3.1 25

Florida 66,563 177 376,062 24.3 2.4 24

Total $ 483,485 1,323 $ 365,446 146.0 3.0 146

Homebuilding Revenues, Home Closings, Average Sales Price Per Home Closed (ASP), Average Community Count, and Average Monthly Absorption Rate by Reportable Segment

(Revenues in thousands, unaudited)

Six Months Ended June 30, 2026 As of June 30, 2026

Reportable Segment Homebuilding Revenues Home Closings ASP Average Community Count Average Monthly Absorption Rate Community Count at End of Period

Central $ 216,937 715 $ 303,408 48.5 2.5 50

Southeast 180,468 542 332,967 29.7 3.0 30

Northwest 96,611 187 516,636 15.7 2.0 17

West 210,459 471 446,834 27.7 2.8 29

Florida 116,772 331 352,785 23.6 2.3 25

Total $ 821,247 2,246 $ 365,649 145.2 2.6 151

Six Months Ended June 30, 2025 As of June 30, 2025

Reportable Segment Homebuilding Revenues Home Closings ASP Average Community Count Average Monthly Absorption Rate Community Count at End of Period

Central $ 214,132 690 $ 310,336 49.2 2.3 46

Southeast 251,792 768 327,854 31.5 4.1 35

Northwest 87,724 165 531,661 16.3 1.7 16

West 167,295 389 430,064 25.2 2.6 25

Florida 113,962 307 371,212 24.8 2.1 24

Total $ 834,905 2,319 $ 360,028 147.0 2.6 146

Owned and Controlled Lots

The table below shows (i) home closings by reportable segment for the six months ended June 30, 2026 and (ii) the Company’s owned or controlled lots by reportable segment as of June 30, 2026.

Six Months Ended June 30, 2026 As of June 30, 2026

Reportable Segment Home Closings

Owned (1)

Controlled Total

Central 715 18,272 256 18,528

Southeast 542 12,868 1,212 14,080

Northwest 187 5,795 1,142 6,937

West 471 8,621 3,145 11,766

Florida 331 4,966 1,129 6,095

Total 2,246 50,522 6,884 57,406

(1)Of the 50,522 owned lots as of June 30, 2026, 33,775 were raw/under development lots and 16,747 were finished lots. Finished lots included 1,858 completed homes, including information centers, and 1,899 homes in progress.

Backlog Data

As of the dates set forth below, the Company’s net orders, cancellation rate and ending backlog homes and value were as follows (dollars in thousands, unaudited):

Six Months Ended June 30,

Backlog Data

2026 (4)

2025 (5)

Net orders (1)

2,260 2,528

Cancellation rate (2)

47.4 % 24.2 %

Ending backlog – homes (3)

1,298 808

Ending backlog – value (3)

$ 525,549 $ 322,466

(1)Net orders are new (gross) orders for the purchase of homes during the period, less cancellations of existing purchase contracts during the period.

(2)Cancellation rate for a period is the total number of purchase contracts cancelled during the period divided by the total new (gross) orders for the purchase of homes during the period.

(3)Ending backlog consists of retail homes at the end of the period that are under a purchase contract that has been signed by homebuyers who have met preliminary financing criteria but have not yet closed and wholesale contracts with varying terms. Ending backlog is valued at the contract amount.

(4)As of June 30, 2026, the Company had 269 units related to bulk sales agreements associated with its wholesale business.

(5)As of June 30, 2025, the Company had 91 units related to bulk sales agreements associated with its wholesale business.

Non-GAAP Measures

In addition to the results reported in accordance with accounting principles generally accepted in the United States (“GAAP”), the Company has provided information in this press release relating to adjusted net income, adjusted basic earnings per share, adjusted diluted earnings per share, homebuilding gross margin excluding inventory impairment, adjusted homebuilding gross margin, and net debt to capital ratio.

Adjusted Net Income, Adjusted Basic Earnings per Share, and Adjusted Diluted Earnings per Share

Adjusted net income, adjusted basic earnings per share, and adjusted diluted earnings per share are non-GAAP financial measures used by management as supplemental measures in evaluating operating performance. The Company defines adjusted net income as net income less inventory impairment charges. The Company defines adjusted basic earnings per share as adjusted net income divided by weighted average basic shares outstanding. The Company defines adjusted diluted earnings per share as adjusted net income divided by weighted average diluted shares outstanding. Management believes that the presentation of adjusted net income, adjusted basic earnings per share, and adjusted diluted earnings per share provides useful information to investors because such measures isolate the impact that inventory impairment charges have on net income and earnings per share. However, because adjusted net income, adjusted basic earnings per share, and adjusted diluted earnings per share exclude the inventory impairment charge, which has real economic effects and could impact the Company’s results, the utility of adjusted net income, adjusted basic earnings per share, and adjusted diluted earnings per share as measures of the Company’s operating performance may be limited. In addition, other companies may not calculate adjusted net income, adjusted basic earnings per share, and adjusted diluted earnings per share in the same manner that the Company does. Accordingly, adjusted net income, adjusted basic earnings per share, and adjusted diluted earnings per share should be considered only as supplements to net income, basic earnings per share, and diluted earnings per share, respectively, as measures of the Company’s performance.

The following table reconciles adjusted net income to net income, which is the GAAP financial measure that management believes to be most directly comparable, and adjusted basic earnings per share and adjusted diluted earnings per share are calculated by dividing adjusted net income by basic or diluted weighted average shares outstanding, respectively (dollars in thousands, except earnings per share, unaudited):

Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

Net income $ 26,984 $ 31,533 $ 29,144 $ 35,527

Basic weighted average number of shares outstanding 23,201,571 23,221,565 23,191,411 23,308,534

Basic earnings per share $ 1.16 $ 1.36 $ 1.26 $ 1.52

Diluted weighted average number of shares outstanding 23,279,553 23,265,062 23,248,046 23,364,957

Diluted earnings per share $ 1.16 $ 1.36 $ 1.25 $ 1.52

Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

Net income $ 26,984 $ 31,533 $ 29,144 $ 35,527

Inventory impairment — — 4,681 —

Tax impact due to above reconciling item — — (1,225) —

Adjusted net income $ 26,984 $ 31,533 $ 32,600 $ 35,527

Basic weighted average number of shares outstanding 23,201,571 23,221,565 23,191,411 23,308,534

Adjusted basic earnings per share $ 1.16 $ 1.36 $ 1.41 $ 1.52

Diluted weighted average number of shares outstanding 23,279,553 23,265,062 23,248,046 23,364,957

Adjusted diluted earnings per share $ 1.16 $ 1.36 $ 1.40 $ 1.52

Homebuilding Gross Margin Excluding Inventory Impairment and Adjusted Homebuilding Gross Margin

Homebuilding gross margin excluding inventory impairment and adjusted homebuilding gross margin are non-GAAP financial measures used by management as supplemental measures in evaluating operating performance. The Company defines homebuilding gross margin excluding inventory impairment as homebuilding gross margin less inventory impairment charges. The Company defines adjusted homebuilding gross margin as homebuilding gross margin excluding inventory impairment, less capitalized interest and adjustments resulting from the application of purchase accounting included in the cost of sales. Management believes homebuilding gross margin excluding inventory impairment and adjusted homebuilding gross margin are useful because they isolate the impact that capitalized interest, purchase accounting adjustments, and inventory impairment (as applicable) have on homebuilding gross margin. However, because homebuilding gross margin excluding inventory impairment and adjusted homebuilding gross margin exclude capitalized interest, purchase accounting adjustments, and inventory impairment (as applicable), which have real economic effects and could impact the Company’s results, the utility of homebuilding gross margin excluding inventory impairment and adjusted homebuilding gross margin as measures of the Company’s operating performance may be limited. In addition, other companies may not calculate homebuilding gross margin excluding inventory impairment and adjusted homebuilding gross margin in the same manner that the Company does. Accordingly, homebuilding gross margin excluding inventory impairment and adjusted homebuilding gross margin should be considered only as supplements to homebuilding gross margin as a measure of the Company’s performance.

The following table reconciles homebuilding gross margin excluding inventory impairment and adjusted homebuilding gross margin to homebuilding gross margin (homebuilding revenues less homebuilding costs), which is the GAAP financial measure that management believes to be most directly comparable (dollars in thousands, unaudited):

Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

Homebuilding revenues $ 501,511 $ 483,485 $ 821,247 $ 834,905

Homebuilding costs 402,117 372,877 661,924 650,584

Homebuilding gross margin $ 99,394 $ 110,608 $ 159,323 $ 184,321

Inventory impairment

— — 4,681 —

Homebuilding gross margin excluding inventory impairment $ 99,394 $ 110,608 $ 164,004 $ 184,321

Capitalized interest amortized to cost of sales 16,472 11,836 26,448 20,103

Purchase accounting adjustments (1)

544 1,042 933 1,851

Adjusted homebuilding gross margin $ 116,410 $ 123,486 $ 191,385 $ 206,275

Homebuilding gross margin % (2)

19.8 % 22.9 % 19.4 % 22.1 %

Homebuilding gross margin % excluding inventory impairment (2)

19.8 % 22.9 % 20.0 % 22.1 %

Adjusted homebuilding gross margin % (2)

23.2 % 25.5 % 23.3 % 24.7 %

(1)Adjustments result from the application of purchase accounting for acquisitions and represent the amount of the fair value step-up adjustments included in cost of sales for real estate inventory sold after the acquisition dates.

(2)Calculated as a percentage of homebuilding revenues.

Net Debt to Capital Ratio

Net debt to capital ratio is a non-GAAP financial measure used by management as a supplemental measure in understanding the leverage employed in the Company’s operations and as an indicator of its ability to obtain financing. The Company defines net debt to capital ratio as net debt (which is total debt minus cash and cash equivalents) divided by net debt plus total equity. Management believes that the presentation of net debt to capital ratio provides useful information to investors regarding the Company’s financial leverage and its ability to meet long-term obligations. By excluding cash and cash equivalents from total debt, the ratio offers a clearer view of the Company’s capital structure and financial flexibility. Management uses this metric to monitor the Company’s capital efficiency and to evaluate the effectiveness of its capital management strategies over time. Other companies may define this measure differently and, as a result, the Company’s measure of net debt to capital ratio may not be directly comparable to the measures of other companies.

The following table reconciles net debt to capital ratio (a non-GAAP financial measure) to debt to capital ratio, which is the GAAP financial measure that management believes to be most directly comparable (dollars in thousands, unaudited):

June 30, 2026 December 31, 2025

Total debt (Notes payable)

$ 1,580,907 $ 1,656,803

Total equity

2,132,656 2,096,289

Total capital

$ 3,713,563 $ 3,753,092

Debt to capital ratio

42.6 % 44.1 %

Total debt (Notes payable)

$ 1,580,907 $ 1,656,803

Less: Cash and cash equivalents

61,081 61,247

Net debt

$ 1,519,826 $ 1,595,556

Total equity

2,132,656 2,096,289

Total net capital

$ 3,652,482 $ 3,691,845

Net debt to capital ratio (1)

41.6 % 43.2 %

(1) Net debt to capital ratio is calculated as net debt (which is total debt minus cash and cash equivalents) divided by net debt plus total equity.

CONTACT: Joshua D. Fattor

Executive Vice President of Finance and Capital Markets

(281) 210-2586

investorrelations@lgihomes.com

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Cover Page Cover Page

Aug. 04, 2026

Cover [Abstract]

Document Type

8-K

Document Period End Date

Aug. 04, 2026

Entity Registrant Name

LGI HOMES, INC.

Entity Central Index Key

0001580670

Amendment Flag

false

Entity Incorporation, State or Country Code

Entity File Number

001-36126

Entity Tax Identification Number

46-3088013

Entity Address, Address Line One

1450 Lake Robbins Drive,

Entity Address, Address Line Two

Suite 430,

Entity Address, City or Town

The Woodlands,

Entity Address, State or Province

Entity Address, Postal Zip Code

77380

City Area Code

281

Local Phone Number

362-8998

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Entity Emerging Growth Company

false

Title of 12(b) Security

Common Stock, par value $0.01 per share

Trading Symbol

LGIH

NASDAQ/NGS (GLOBAL SELECT MARKET)

Cover [Abstract]

Security Exchange Name

NASDAQ

Entity Listings [Line Items]

Security Exchange Name

NASDAQ

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Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

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Area code of city

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Cover page.

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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

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The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

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No definition available.

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- Definition

Address Line 1 such as Attn, Building Name, Street Name

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Address Line 2 such as Street or Suite number

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Name of the City or Town

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Code for the postal or zip code

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Name of the state or province.

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

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- Definition

Indicate if registrant meets the emerging growth company criteria.

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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Two-character EDGAR code representing the state or country of incorporation.

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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-Publisher SEC

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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Local phone number for entity.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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Title of a 12(b) registered security.

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Name of the Exchange on which a security is registered.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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Trading symbol of an instrument as listed on an exchange.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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