LGI Homes Q2 Profit Rises; Lifts Full-year Outlook - Quick Facts

(RTTNews) - LGI Homes Inc. (LGIH) Tuesday reported second-quarter net income attributable to owners of $9.04 million, higher than $5.16 million in the prior year. Earnings per share for the recent quarter were $0.43.

On average, five analysts polled by Thomson Reuters expected the company to earn $0.33 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter surged to $106.41 million from $37.34 million a year ago. Analysts estimated revenues of $90.81 million for the quarter.

Home sales revenues increased 76.7% to $106.4 million, and average home sales price rose 9.7% to $160.74.

The company also increased its earnings per share guidance range for 2014 to $1.30 - $1.38 per share, up from the prior guidance of $1.22 - $1.30 per share. Street analysts expect earnings of $1.32 per share for the year.