THE WOODLANDS, Texas (AP) — LGI Homes Inc. (LGIH) on Tuesday reported fourth-quarter earnings of $136.4 million.
The The Woodlands, Texas-based company said it had profit of $5.34 per share. Earnings, adjusted for pretax gains, were $5.18 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $3.93 per share.
The entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets posted revenue of $897.4 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $830.7 million.
For the year, the company reported profit of $323.9 million, or $12.76 per share. Revenue was reported as $2.37 billion.
LGI Homes shares have climbed almost 9% since the beginning of the year. The stock has risen 21% in the last 12 months.