LGI Homes, Inc. (NASDAQ:LGIH) Q4 2022 Earnings Conference Call February 21, 2023 12:30 PM ET
Company Participants
Josh Fattor - Vice President, Investor Relations
Eric Lipar - Chief Executive Officer and Chairman
Charles Merdian - Chief Financial Officer and Treasurer
Conference Call Participants
Michael Rehaut - JPMorgan
Truman Patterson - Wolfe Research
Carl Reichardt - BTIG
Jay McCanless - Wedbush Securities
Alex Barron - Housing Research Center
Operator
Hello and welcome to LGI Homes Fourth Quarter 2022 Conference Call. Today’s call is being recorded and a replay will be available on the company’s website at www.lgihomes.com. After managements prepared comments, there will be an opportunity to ask questions. I’ll now turn the call over to Josh Fattor, Vice President of Investor Relations. You may begin.
Josh Fattor
Thanks and good afternoon. I’ll remind listeners that this call will contain forward-looking statements including management’s views on LGI Homes’ business strategy, outlook, plans, objectives and guidance for 2023. Such statements reflect management’s current expectations and involve assumptions and estimates that are subject to risks and uncertainties that could cause management’s expectations to prove to be incorrect.
You should review our filings with the SEC, for a discussion of the risks, uncertainties, and other factors that could cause actual results to differ from those presented today. All forward-looking statements must be considered in-light of those related risks and you should not place undue reliance on such statements, which reflect management’s current viewpoints and are not guarantees of future performance.
On this call, we’ll discuss non-GAAP financial measures that are not intended to be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Reconciliations of non-GAAP financial measures to the most comparable measures prepared in accordance with GAAP can be found in the press release we issued this morning and in our annual report on Form 10-Q for the fiscal year-ended December 31, 2022 that we expect to file with the SEC later today. This filing will be accessible on the SEC’s website and in the Investor Relations section of our website.
I’m joined on today’s call by Eric Lipar, LGI Homes’ Chief Executive Officer and Chairman of the Board; and Charles Merdian, Chief Financial Officer and Treasurer.
I’ll now turn the call over to Eric.
Eric Lipar
Thanks, Josh. Good afternoon, everyone and welcome to our 2022 earnings call. In preparation for today's call, we took a look at last year's commentary and it's remarkable what a difference a year makes. When we spoke last February, we were talking about over 10,000 closings, phones ringing off the hook, waiting lists of people wanting to buy, investors lining up to purchase multiple homes. In fact, demand was so strong, we turned off marketing. And we made it clear at that time, we are taking advantage of the high demand environment because we knew it wouldn't last and it didn't.