LGI Homes, Inc. (NASDAQ:LGIH) Q4 2019 Earnings Conference Call - Final Transcript

Feb 25, 2020 • 12:30 pm ET

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LGI Homes, Inc. (NASDAQ:LGIH) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Welcome to the LGI Homes Fourth Quarter 2019 Conference Call. Today's call is being recorded and a replay will be available on the Company's website later today at www.lgihomes.com. We have allocated an hour for prepared remarks and Q&A

[Operator Instructions]

At this time, I will like to turn the call over to Rachel Eaton, Chief Marketing Officer at LGI Homes. Ms. Eaton, you may begin.

Executive
Rachel Eaton

Thank you. Welcome to the LGI Homes conference call, discussing our results for the fourth quarter and full-year 2019.

Today's conference call will contain forward-looking statements that include, among other things, statements regarding LGI's business strategy, outlook, plans, objectives and guidance for 2020. All such statements reflect current expectations. However, they do involve assumptions, estimates, and other risks and uncertainties, that could cause our expectations to prove to be incorrect.

You should review our filings with the SEC, including our risk factors and cautionary statement about forward-looking statements section for a discussion of the risks, uncertainties and other factors that could cause our actual results to differ materially from those anticipated in these forward-looking statements. These forward-looking statements are not guarantees of future performance. You should consider these forward-looking statements in light of the related risks and you should not place undue reliance on these forward-looking statements, which speak only as of the date of this conference call.

Additionally, certain non-GAAP financial measures will be discussed. The presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. Reconciliations of these non-GAAP financial measures to the most comparable measures, prepared in accordance with GAAP, are included in the earnings press release that we issued this morning, and in our annual report on Form 10-K for the fiscal year ended December 31st, 2019, that we expect to file with the SEC later today.

This filing will be accessible on the SEC's website and in the Investors Section of our website at lgihomes.com.

Joining me today are Eric Lipar, LGI Homes' Chief Executive Officer; and Charles Merdian, the Company's Chief Financial Officer. With that, I'll now turn the call over to Eric.

Executive
Eric Lipar

Thank you, Rachel, and welcome to everyone on this call. We appreciate your continued interests in LGI Homes. During today's call, I will share some highlights about our outstanding performance in 2019, and Charles will follow up to discuss our financial results in more detail. After he is done, we will conclude with comments and what we are seeing this quarter and our expectations for 2020, before we open the call for questions.

Let me start by saying this has been an excellent quarter and year-end for LGI Homes. At the start of 2019, we provided guidance, announcing our expectations to deliver between 6,900 and 7,800 homes for the year. We also forecasted further growth in community count, achieving 105 to 115 active communities by the end of the year, and to deliver basic earnings per share to our investors in