LGI Homes

#5637

Rank

$1.24B

Marketcap

United States

Country

Leadership team

Mr. Eric Thomas Lipar (Chairman & CEO)

Mr. Michael Larry Snider (Pres & COO)

Mr. Charles Michael Merdian (CFO & Treasurer)

Products/ Services

Building Maintenance, Home Decor, Smart Building

Number of Employees

500 - 1000

Headquarters

The Woodlands, Texas, United States

Established

2003

Company Registration

SEC CIK number: 0001580670

Net Income

100M - 500M

Revenue

Above - 1B

Traded as

LGIH

Social Media

URL

https://www.lgihomes.com

Overview

Location

Recognition and Award

References

Summary

LGI Homes, Inc. designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to companies looking to acquire single-family rental properties. As of December 31, 2021, it owned 101 communities. The company serves customers in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, Nevada, West Virginia, Virginia, and Pennsylvania. LGI Homes, Inc. was founded in 2003 and is headquartered in The Woodlands, Texas.

History

LGI Homes was founded in 2003 in The Woodlands, Texas by Thomas Lipar and began building in the Houston area. LGI Homes focuses on entry-level housing in the vicinity of major metropolitan areas. Its primary customer is the first-time homebuyer. The company saw sales trend upward from 2006 to 2008, when it was the only builder in the Builder Magazine Top-200 builders to generate unit sales and see revenue growth across that period. The company's growth slowed in 2009, when LGI Homes experienced a 9% drop in home sales, year-over-year.In 2013, the company announced that they would be expanding to the southeast, and that plans to develop new home communities in Florida and Georgia were in place. LGI Homes began publicly trading shares of their company on 7 November 2013. The share price of the initial 9 million shares rose from $11 per share to $12.26 by market closing, an increase of 11%. The company planned to use the $90 million they raised to grow their company particularly in Texas.In October 2014, the company purchased Oakmont Home Builders and expanded into North Carolina, South Carolina.

In 2015, they expanded into Colorado, and in 2018 LGI Homes acquired the assets of Wynn Homes. This acquisition earned the homebuilder over 200 under-construction homes and approximately 4,000 lots.

As of 25 February 2020, LGI Homes has operations in 31 markets in 18 states.

Mission

LGI Homes has built its success by constructing quality homes in the places people want to live.

Vision

Our spacious new home communities are rich in amenities like playgrounds, trails, community sporting areas,

Key Team

Ms. Rachel Lyons Eaton (Chief Marketing Officer)

Joshua D. Fattor (VP of Investor Relations & Capital Markets)

Mr. Scott J. Garber (Gen. Counsel & Corp. Sec.)

Mr. Chris Kelly (Southwest Division Pres)

Recognition and Awards

LGI Homes has been the recipient of numerous awards from leading publications and organizations such as the Dallas Business Journal, Builder Magazine and Inc. 5000. Most recently, in 2020, LGI Homes was listed on the Forbes Best Employers list.