LGI Homes sees 2023 home closings 6,000-7,000

Subject to the caveats in the Forward-Looking Statements section of this press release, the Company is providing the following guidance for the full year 2023. The Company expects: Home closings between 6,000 and 7,000; Active selling communities at the end of 2023 between 115 and 125; Average sales price per home closed between $335,000 and $350,000; Gross margin as a percentage of home sales revenues between 21.0% and 23.0%; Adjusted gross margin as a percentage of home sales revenues between 22.5% and 24.5% with capitalized interest accounting for substantially all the difference between gross margin and adjusted gross margin; SG&A as a percentage of home sales revenues between 11.5% and 12.5%; Effective tax rate between 23.5% and 24.5%.