THE WOODLANDS, Texas (AP) _ LGI Homes Inc. (LGIH) on Tuesday reported first-quarter profit of $18.3 million.
On a per-share basis, the The Woodlands, Texas-based company said it had profit of 73 cents.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The entry-level homebuilder in the Texas, Arizona, Florida and Georgia markets posted revenue of $287.6 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $289.5 million.
LGI Homes shares have increased 57% since the beginning of the year. The stock has declined 3% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LGIH at https://www.zacks.com/ap/LGIH