THE WOODLANDS, Texas (AP) — THE WOODLANDS, Texas (AP) — LGI Homes Inc. (LGIH) on Tuesday reported fourth-quarter earnings of $50.9 million.
The The Woodlands, Texas-based company said it had net income of $2.15 per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.31 per share.
The entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets posted revenue of $557.4 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $595.9 million.
For the year, the company reported profit of $196.1 million, or $8.30 per share. Revenue was reported as $2.2 billion.
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