09:02 AM EDT, 07/30/2024 (MT Newswires) -- LGI Homes ( LGIH ) reported Q2 earnings Tuesday of $2.48 per diluted share, up from $2.25 a year earlier.

Four analysts polled by Capital IQ expected $2.12.

Home sales revenue for the quarter ended June 30 was $602.5 million, down from $645.3 million a year earlier.

Analysts surveyed by Capital IQ expected $617.4 million.

The company said it now anticipates 2024 home closings of between 6,400 and 7,200 at an average price of $360,000 to $370,000 per home, compared with its prior guidance for home closings of between 7,000 and 8,000 at an average price of $350,000 to $360,000 per home.

LGI Homes ( LGIH ) shares fell 3% in recent Tuesday premarket activity.

Price: 101.76, Change: -3.19, Percent Change: -3.04