LGIH August sales numbers

https://finance.yahoo.com/news/lgi-homes-inc-reports-august-…

THE WOODLANDS, Texas, Sept. 06, 2017 (GLOBE NEWSWIRE) – LGI Homes, Inc. (Nasdaq:LGIH) today announced 596 homes closed in August 2017, up from 383 home closings in August 2016, representing year-over-year growth of 55.6%. The Company ended the first eight months of 2017 with 3,459 home closings, a 30.0% increase over 2,661 home closings during the first eight months of 2016.

As of the end of August 2017, the Company had 76 active selling communities.

In addition, LGI announced that damage to its communities from Hurricane Harvey has been minimal and, most importantly, all of its employees are safe.

LGI’s operations span across 14 locations throughout the Greater Houston Area comprised of over 500 homes completed or under construction. “Approximately twenty-five homes were impacted from weather related to Hurricane Harvey,” said Eric Lipar, the Company’s Chief Executive Officer and Chairman of the Board. "We expect damages related to these homes to total less than $100,000. All of the Company’s active selling communities are fully operational and we do not anticipate further interruptions in our business as a result of this storm."

Looks very good. Thanks, KC, for getting the info on LGIH IR last week. I was able to rebut all the shares (for ~$41) that I had sold the prior week for ~$45.

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Fwiw, Citi is saying Houston builders are going to lose only about a week’s worth of sales.

Any trepidation about hurricane Irma and the relevant LGIH communities there?

2 Ft Myers
4 Tampa
1 Lakeland
6 Orlando
3

Any trepidation about hurricane Irma and the 16 relevant LGIH communities there?

2 Ft Myers
4 Tampa
1 Lakeland
6 Orlando
3 Jacksonville

I heard a story on NPR this morning about how poor the drainage is in Tampa and if they have flooding there it could take a very long time to clear out.

“We expect damages related to these homes to total less than $100,000. All of the Company’s active selling communities are fully operational and we do not anticipate further interruptions in our business as a result of this storm.”

This is good, though they didn’t directly address labor availability. Must be confident they are still able to hire crews.

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Hi GDPerks,
I saw that quote as well and made me feel better about Harvey when it was made, but I believe it was made before Irma started to look like a problem.

I don’t think that it was inclusive of any concern or threat of Irma’s potential hit to operations. And truthtfully, nobody yet knows what the effect of Irma will be…

Randy
Long LGIH

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