Why LGI Homes (LGIH) Stock Is Advancing Today

NEW YORK (TheStreet) -- Shares of LGI Homes Inc. (LGIH) are higher by 4.87% to $20.25 in late morning trading on Tuesday, after the company reported an increase in net income to $9.04 million, or 43 cents per diluted share for the 2014 second quarter, compared to $5.16 million for the year ago quarter. 

LGI Homes was not publicly traded during the 2013 second quarter, the company began trading on the NASDAQ in November 2013.

The homebuilding company said total revenue grew to $106.4 million, from $37.3 million for the 2013 second quarter. 

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Analysts polled by Thomson Reuters expected earnings of 33 cents per share on revenue of $90.8 million for the quarter.

LGI Homes attributes the rise in profit to “record setting home closings during the second quarter.”

 
LGIH Chart LGIH data by YCharts

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