Century Communities Reports Increased First Quarter 2024 Results

Rhea-AI Summary

Century Communities, Inc. reports strong first quarter 2024 results with net income up 93% YoY, adjusted net income up 114% YoY, and total revenues of $948.5 million. Home deliveries increased by 23% to 2,358 homes, with new home contracts up 42% YoY. The company's balance sheet remains robust with $2.4 billion in equity and $1.0 billion in liquidity. The outlook for the full year 2024 is positive, with expected deliveries of 10,000 to 11,000 homes and home sales revenues of $3.8 billion to $4.2 billion.

Positive

• Deliveries of 2,358 homes increased by 23% year-over-year
• Home sales revenues reached $922.4 million, a 25% year-over-year increase
• First quarter net income rose by 93% to $64.3 million, or $2.00 per diluted share
• Adjusted net income increased by 114% year-over-year to $71.4 million, or $2.22 per diluted share
• Total revenues amounted to $948.5 million
• Total lots increased to 75,089, with controlled lots at 58% of total lots
• Community count rose to a record 253
• Company's balance sheet shows $2.4 billion in stockholders' equity and $1.0 billion in liquidity
• Full year 2024 outlook anticipates deliveries of 10,000 to 11,000 homes and home sales revenues of $3.8 billion to $4.2 billion

Negative

• None.

Insights

Financial Analyst

The reported increase in net income by 93% to $64.3 million and an 114% increase in adjusted net income to $71.4 million, is a robust indicator of Century Communities' operational efficiency and market strength. This level of profitability enhancement, especially when outpacing revenue growth, suggests significant improvements in cost control and operational leverage. A homebuilding gross margin of 21.3% is healthy, particularly when considering industry standards and an adjusted homebuilding gross margin of 22.8% indicates a strong pricing strategy and effective cost management. With the acquisition of Landmark Homes of Tennessee, diversification and expansion are evident. The liquidity position, with $1.0 billion in total and a book value per share increase to a record $76.10, gives the company a solid foundation for future growth.

Market Research Analyst

The 23% year-over-year increase in home deliveries aligns with current market trends favoring affordable housing. The record community count and the substantial increase in total lot inventory by 46% suggest Century Communities is well-positioned to capitalize on ongoing demand. The strategic management of their lot inventory, with 58% controlled lots, provides flexibility and a competitive advantage in varying market conditions. Moreover, the 42% year-over-year increase in net new home contracts indicates a resilient demand, even in a potentially rising interest rate environment, hinting at underlying market strength and brand confidence.

Equity Analyst

Despite the impressive earnings performance, investors should consider the increase in net homebuilding debt to net capital from 22.4% to 24.9%, which entails a higher leverage compared to the end of the previous year. This metric will require monitoring, particularly as interest rates fluctuate. However, the proactive approach in shareholder returns, as seen by the 13% dividend increase and share repurchase of $16.1 million, reflects confidence in the company's financial health and a commitment to delivering shareholder value. The projected delivery range for the full year and expected home sales revenues indicate management's positive outlook, which is a key point for investor consideration in their future growth expectations for the company.

- Deliveries of 2,358 Homes Increased 23% YoY -
- Home Sales Revenues of $922.4 Million Increased 25% YoY -
- First Quarter Net Income Increased 93% YoY to $64.3 Million, or $2.00 Per Diluted Share -
- First Quarter Adjusted Net Income Increased 114% YoY to $71.4 Million, or $2.22 Per Diluted Share -
- Total Lots Increased to 75,089, with Controlled Lots at 58% of Total Lots -
- Community Count Increased to a Record 253 -

GREENWOOD VILLAGE, Colo., April 24, 2024 /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS), one of the nation's largest homebuilders, today announced financial results for its first quarter ended March 31, 2024.

First Quarter 2024 Highlights

• Net income of $64.3 million, or $2.00 per diluted share
• Adjusted net income of $71.4 million, or $2.22 per diluted share
• Pre-tax income of $84.3 million
• Adjusted EBITDA of $109.6 million
• Total revenues of $948.5 million  
• Deliveries of 2,358 homes
• Net new home contracts of 2,866
• Homebuilding gross margin of 21.3%
• Adjusted homebuilding gross margin of 22.8%
• Completed the acquisition of Landmark Homes of Tennessee on January 22, 2024

"Our first quarter deliveries of 2,358 homes increased 23% versus the prior year quarter as we continued to see solid demand for affordable new homes, with our adjusted net income and net income increasing by 114% and 93%, respectively," said Dale Francescon, Chairman and Co-Chief Executive Officer. "Our first quarter net new contracts of 2,866 homes increased by 42% on a year-over-year basis and 22% quarter-over-quarter, with sequential increases in each month of the quarter. We increased our quarterly cash dividend by 13% to $0.26 per share and repurchased 186,887 shares of our common stock."

Rob Francescon, Co-Chief Executive Officer and President, said, "Our total lot inventory of 75,089 increased by 46% over the prior year with the higher lot count driven by gains in our controlled lots, which accounted for 58% of our total lots at the end of the first quarter. Our community count grew by 8% on a year-over-year basis to 253, a record for the Company. Even with the solid demand for new homes, we've had continued success in managing our costs and maintained our cycle times in the four-to-five-month timeframe. Our balance sheet remains strong with $2.4 billion in stockholders' equity, $1.0 billion in liquidity and net homebuilding debt to net capital of 24.9%."

First Quarter 2024 Results

Net income for the first quarter 2024 was $64.3 million, or $2.00 per diluted share. Adjusted net income, which excludes purchase price accounting and an impairment on other investment, was $71.4 million, or $2.22 per diluted share.

Total revenues were $948.5 million, with first quarter home sales revenues totaling $922.4 million. Deliveries totaled 2,358 homes. The average sales price of home deliveries for the first quarter 2024 was $391,200.

Net new home contracts in the first quarter 2024 were 2,866, and at the end of the first quarter 2024, the Company had 1,590 homes in backlog, representing $667.2 million of backlog dollar value.

Adjusted homebuilding gross margin percentage, excluding interest and purchase accounting, was 22.8% in the first quarter of 2024. Homebuilding gross margin percentage in the first quarter 2024 was 21.3%. Selling, general, and administrative expenses as a percent of home sales revenues was 12.4% in the quarter. Adjusted EBITDA and EBITDA for the first quarter 2024 were $109.6 million and $100.3 million, respectively.

Financial services revenues and pre-tax income were $24.9 million and $10.0 million, respectively, in the first quarter 2024.

Our book value per share increased to a record $76.10 as of March 31, 2024.

Balance Sheet and Liquidity

The Company ended the first quarter 2024 with a strong financial position, including $2.4 billion of stockholders' equity and $1.0 billion of total liquidity, including $207.6 million of cash.

During the first quarter, the Company increased its quarterly cash dividend by 13% to $0.26 per share and repurchased 186,887 shares of its common stock for $16.1 million.

As of March 31, 2024, homebuilding debt to capital decreased to 29.4% from 29.9% at December 31, 2023 and net homebuilding debt to net capital increased to 24.9% from 22.4% at December 31, 2023.

Full Year 2024 Outlook

Scott Dixon, Interim Chief Financial Officer of the Company, commented, "We are encouraged with our start to the year as we continue to see solid demand across our national footprint and are successfully managing our costs and cycle times. We will grow both our community count and deliveries on a year-over-year basis this year, and we continue to expect our full year 2024 deliveries to be in the range of 10,000 to 11,000 homes and our home sales revenues to be in the range of $3.8 billion to $4.2 billion."

Webcast and Conference Call

The Company will host a webcast and conference call on Wednesday, April 24, 2024, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, to review the Company's first quarter 2024 results, provide commentary, and conduct a question-and-answer session. To participate in the call, please dial 833-816-1103 (domestic) or 412-317-0685 (international). The live webcast will be available at www.centurycommunities.com in the Investors section. A replay of the conference call will be available through May 1, 2024, by dialing 877-344-7529 (domestic) or 412-317-0088 (international) and entering the passcode 5208502. A replay of the webcast will be available on the Company's website for at least one year.

About Century Communities

Century Communities, Inc. (NYSE: CCS) is one of the nation's largest homebuilders, an industry leader in online home sales, and the highest-ranked homebuilder on Newsweek's list of America's Most Trustworthy Companies 2024. Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 18 states and over 45 markets across the U.S., and also offers title, insurance and lending services in select markets through its Parkway Title, IHL Home Insurance Agency, and Inspire Home Loans subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.

Non-GAAP Financial Measures

In addition to the Company's operating results presented in accordance with United States generally accepted accounting principles (GAAP), this press release includes the following non-GAAP financial measures: adjusted net income, adjusted diluted earnings per common share, adjusted homebuilding gross margin, EBITDA, adjusted EBITDA, and ratio of net homebuilding debt to net capital. These non-GAAP financial measures should not be used as a substitute for the Company's operating results presented in accordance with GAAP, and an analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP. Please refer to the reconciliation of each of the above referenced non-GAAP financial measures following the historical financial information presented in this press release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "intend," "estimate," "plan," "continue," "will," "may," "potential," "guidance" and "outlook" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include the Company's operating and financial guidance for 2024 and its expectations for growth in its community count and deliveries during 2024. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. The following important factors could cause actual results to differ materially from those expressed in the forward-looking statement: adverse changes in general economic conditions, including increased interest rates, inflation, and employment levels; the potential impact of global supply chain disruptions, labor, land and raw material or other resource shortages and delays, and municipal and utility delays on the Company's business, industry and the broader economy; the ability to identify and acquire desirable land; availability and cost of financing; the effect of tax changes; reliance on contractors and key personnel; availability and pricing for land, labor and raw materials or other resources; the ability to pay dividends in the future; and the other factors included in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law.

 

Century Communities, Inc. Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share amounts)
		Three Months Ended March 31,
		2024			2023
Revenues
Homebuilding Revenues
Home sales revenues		$	922,402		$	735,600
Land sales and other revenues			1,216			1,535
Total homebuilding revenues			923,618			737,135
Financial services revenues			24,925			15,855
Total revenues			948,543			752,990
Homebuilding Cost of Revenues
Cost of home sales revenues			(725,570)			(601,385)
Cost of land sales and other revenues			(37)			—
Total homebuilding cost of revenues			(725,607)			(601,385)
Financial services costs			(14,877)			(10,781)
Selling, general, and administrative			(114,109)			(98,313)
Other income (expense)			(9,630)			1,498
Income before income tax expense			84,320			44,009
Income tax expense			(19,988)			(10,698)
Net income		$	64,332		$	33,311
Earnings per share:
Basic		$	2.02		$	1.04
Diluted		$	2.00		$	1.04
Weighted average common shares outstanding:
Basic			31,808,959			31,914,414
Diluted			32,238,808			32,117,082

 

Century Communities, Inc. Consolidated Balance Sheets (Unaudited) (in thousands, except share amounts)
		March 31,			December 31,
		2024			2023
Assets		(unaudited)			(audited)
Cash and cash equivalents		$	122,840		$	226,150
Cash held in escrow			84,776			101,845
Accounts receivable			65,995			76,213
Inventories			3,107,133			3,016,641
Mortgage loans held for sale			217,702			251,852
Prepaid expenses and other assets			388,801			350,193
Property and equipment, net			74,647			69,075
Deferred tax assets, net			17,601			16,998
Goodwill			32,082			30,395
Total assets		$	4,111,577		$	4,139,362
Liabilities and stockholders' equity
Liabilities:
Accounts payable		$	135,784		$	147,265
Accrued expenses and other liabilities			274,308			303,392
Notes payable			1,069,762			1,062,471
Revolving line of credit			—			—
Mortgage repurchase facilities			212,447			239,298
Total liabilities			1,692,301			1,752,426
Stockholders' equity:
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none outstanding			—			—
Common stock, $0.01 par value, 100,000,000 shares authorized, 31,790,585 and 31,774,615 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively			318			318
Additional paid-in capital			569,581			592,989
Retained earnings			1,849,377			1,793,629
Total stockholders' equity			2,419,276			2,386,936
Total liabilities and stockholders' equity		$	4,111,577		$	4,139,362

 

Century Communities, Inc. Homebuilding Operational Data (Unaudited)
Net New Home Contracts
		Three Months Ended March 31,
		2024			2023			% Change
West		440			343			28.3	%
Mountain		611			333			83.5	%
Texas		514			475			8.2	%
Southeast		450			242			86.0	%
Century Complete		851			629			35.3	%
Total		2,866			2,022			41.7	%

 

Home Deliveries
(dollars in thousands)
		Three Months Ended March 31,
		2024					2023					% Change
		Homes		Average Sales Price			Homes		Average Sales Price			Homes			Average Sales Price
West		284		$	606.5		203		$	634.9		39.9	%		(4.5)	%
Mountain		495		$	513.4		455		$	539.8		8.8	%		(4.9)	%
Texas		424		$	309.4		327		$	273.5		29.7	%		13.1	%
Southeast		379		$	426.1		198		$	439.0		91.4	%		(2.9)	%
Century Complete		776		$	262.0		729		$	253.4		6.4	%		3.4	%
Total / Weighted Average		2,358		$	391.2		1,912		$	384.7		23.3	%		1.7	%

 

Century Communities, Inc. Homebuilding Operational Data (Unaudited)
Selling Communities
		As of March 31,					Increase/(Decrease)
		2024		2023			Amount		% Change
West		28		26			2		7.7	%
Mountain		46		40			6		15.0	%
Texas		41		35			6		17.1	%
Southeast		30		28			2		7.1	%
Century Complete		108		105			3		2.9	%
Total		253		234			19		8.1	%

 

Backlog
(dollars in thousands)
		As of March 31,
		2024								2023								% Change
		Homes		Dollar Value			Average Sales Price			Homes		Dollar Value			Average Sales Price			Homes			Dollar Value			Average Sales Price
West		262		$	176,732		$	674.5		220		$	133,249		$	605.7		19.1	%		32.6	%		11.4	%
Mountain		279			161,477		$	578.8		319			152,521		$	478.1		(12.5)	%		5.9	%		21.1	%
Texas		258			78,396		$	303.9		303			95,464		$	315.1		(14.9)	%		(17.9)	%		(3.6)	%
Southeast		214			99,448		$	464.7		249			110,864		$	445.2		(14.1)	%		(10.3)	%		4.4	%
Century Complete		577			151,154		$	262.0		829			221,514		$	267.2		(30.4)	%		(31.8)	%		(1.9)	%
Total / Weighted Average		1,590		$	667,207		$	419.6		1,920		$	713,612		$	371.7		(17.2)	%		(6.5)	%		12.9	%

 

Lot Inventory
		As of March 31,
		2024									2023									% Change
		Owned			Controlled			Total			Owned			Controlled			Total			Owned			Controlled			Total
West		4,397			3,230			7,627			4,279			763			5,042			2.8	%		323.3	%		51.3	%
Mountain		8,475			5,602			14,077			10,314			2,325			12,639			(17.8)	%		140.9	%		11.4	%
Texas		9,422			11,183			20,605			7,578			3,217			10,795			24.3	%		247.6	%		90.9	%
Southeast		5,461			10,370			15,831			5,610			3,658			9,268			(2.7)	%		183.5	%		70.8	%
Century Complete		3,955			12,994			16,949			3,585			10,285			13,870			10.3	%		26.3	%		22.2	%
Total		31,710			43,379			75,089			31,366			20,248			51,614			1.1	%		114.2	%		45.5	%
% of Total		42.2 %			57.8 %			100.0 %			60.8 %			39.2 %			100.0 %

 

Century Communities, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)

Adjusted net income and adjusted diluted earnings per share (which we refer to as "Adjusted EPS") are non-GAAP financial measures that we believe are useful to management, investors and other users of our financial information in evaluating our operating results and understanding our operating trends without the effect of certain non-recurring items. We believe excluding certain non-recurring items provides more comparable assessment of our financial results from period to period. We define adjusted net income as consolidated net income before (i) income tax expense, (ii) inventory impairment, if applicable (iii) restructuring costs, if applicable, (iv) loss on debt extinguishment, if applicable, (v) purchase price accounting for acquired work in process inventory, if applicable, and (vi) impairment on other investments, if applicable, less adjusted income tax expense, calculated using our estimated annual effective tax rate after discrete items for the applicable period. Adjusted EPS is calculated by dividing adjusted net income by weighted average common shares – diluted.

Adjusted Net Income and Adjusted Diluted Earnings Per Common Share (in thousands, except share and per share amounts)
		Three Months Ended March 31,
		2024			2023
Numerator
Net income		$	64,332		$	33,311
Denominator
Weighted average common shares outstanding - basic			31,808,959			31,914,414
Dilutive effect of stock-based compensation awards			429,849			202,668
Weighted average common shares outstanding - diluted			32,238,808			32,117,082
Earnings per share:
Basic		$	2.02		$	1.04
Diluted		$	2.00		$	1.04
Adjusted earnings per share
Numerator
Net income		$	64,332		$	33,311
Income tax expense			19,988			10,698
Income before income tax expense			84,320			44,009
Inventory impairment			—			—
Impairment on other investment			7,722			—
Purchase price accounting for acquired work in process inventory			1,581			—
Adjusted income before income tax expense			93,623			44,009
Adjusted income tax expense(1)			(22,193)			(10,698)
Adjusted net income		$	71,430		$	33,311
Denominator - Diluted			32,238,808			32,117,082
Adjusted diluted earnings per share		$	2.22		$	1.04

(1)	The tax rates used in calculating adjusted net income for the three months ended March 31, 2024 and 2023 was 23.7% and 24.3%, respectively, which are reflective of the Company's GAAP tax rates for the applicable periods.

 

Century Communities, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)

Adjusted homebuilding gross margin excluding interest, inventory impairment, and purchase price accounting for acquired work in process inventory are not measurements of financial performance under GAAP; however, the Company's management believes that this information is meaningful as it isolates the impact that inventory impairment and indebtedness have on homebuilding gross margin and permits the Company's stockholders to make better comparisons with the Company's competitors, who adjust gross margins in a similar fashion.  This non-GAAP financial measure should not be used as a substitute for the Company's operating results.  An analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP.

Adjusted Homebuilding Gross Margin (in thousands)
		Three Months Ended March 31,
		2024			%			2023			%
Home sales revenues		$	922,402		100.0	%		$	735,600		100.0	%
Cost of home sales revenues			(725,570)		(78.7)	%			(601,385)		(81.8)	%
Inventory impairment			—		—	%			—		—	%
Homebuilding gross margin			196,832		21.3	%			134,215		18.2	%
Add: Inventory impairment			—		—	%			—		—	%
Add: Interest in cost of home sales revenues			12,033		1.3	%			9,807		1.3	%
Adjusted homebuilding gross margin excluding interest and inventory impairment		$	208,865		22.6	%		$	144,022		19.6	%
Add: Purchase price accounting for acquired work in process inventory			1,581		0.2	%			—		—	%
Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory		$	210,446		22.8	%		$	144,022		19.6	%

 

Century Communities, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)

EBITDA and Adjusted EBITDA 

The following table presents EBITDA and Adjusted EBITDA for the three months ended March 31, 2024 and 2023. EBITDA and adjusted EBITDA are non-GAAP financial measures we use as a supplemental measure in evaluating operating performance. We define EBITDA as net income before (i) income tax expense, (ii) interest in cost of home sales revenues, (iii) other interest expense (income), and (iv) depreciation and amortization expense. We define adjusted EBITDA as EBITDA before loss on debt extinguishment (if applicable), inventory impairment (if applicable), purchase price accounting for acquired work in process inventory (if applicable), and impairment on other investments (if applicable). We believe EBITDA and adjusted EBITDA provide an indicator of general economic performance that is not affected by fluctuations in interest rates or effective tax rates, levels of depreciation or amortization, and items considered to be non-recurring. Accordingly, our management believes that these measurements are useful for comparing general operating performance from period to period. Neither EBITDA or adjusted EBITDA should be considered in addition to, and not as a substitute for, consolidated net income in accordance with GAAP as a measure of performance. Our presentation of Adjusted EBITDA should not be construed as an indication that our future results will be unaffected by unusual or non-recurring items. Each of our EBITDA and adjusted EBITDA is limited as an analytical tool, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP.

(in thousands)
		Three Months Ended March 31,
		2024			2023			% Change
Net income		$	64,332		$	33,311			93.1	%
Income tax expense			19,988			10,698			86.8	%
Interest in cost of home sales revenues			12,033			9,807			22.7	%
Interest expense (income)			(1,515)			(2,364)			(35.9)	%
Depreciation and amortization expense			5,475			3,292			66.3	%
EBITDA			100,313			54,744			83.2	%
Inventory impairment			—			—			NM
Impairment on other investment			7,722			—			NM
Purchase price accounting for acquired work in process inventory			1,581			—			NM
Adjusted EBITDA		$	109,616		$	54,744			100.2	%

NM – Not Meaningful

 

Century Communities, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)

Ratio of Net Homebuilding Debt to Net Capital

The following table presents the Company's ratio of net homebuilding debt to net capital, which is a non-GAAP financial measure.  The Company calculates this by dividing net homebuilding debt (homebuilding debt less cash and cash equivalents, and cash held in escrow) by net capital (net homebuilding debt plus total stockholders' equity). Homebuilding debt is our total debt minus outstanding borrowings under our construction loan agreement and mortgage repurchase facilities. The most directly comparable GAAP measure is the ratio of debt to capital. The Company believes the ratio of net homebuilding debt to net capital is a relevant and useful financial measure to investors in understanding the leverage employed in its operations and as an indicator of the Company's ability to obtain external financing.

(in thousands)
		March 31,			December 31,
		2024			2023
Notes payable		$	1,069,762		$	1,062,471
Revolving line of credit			—			—
Construction loan agreements			(60,867)			(44,895)
Total homebuilding debt			1,008,895			1,017,576
Total stockholders' equity			2,419,276			2,386,936
Total capital		$	3,428,171		$	3,404,512
Homebuilding debt to capital			29.4 %			29.9 %
Total homebuilding debt		$	1,008,895		$	1,017,576
Cash and cash equivalents			(122,840)			(226,150)
Cash held in escrow			(84,776)			(101,845)
Net homebuilding debt			801,279			689,581
Total stockholders' equity			2,419,276			2,386,936
Net capital		$	3,220,555		$	3,076,517
Net homebuilding debt to net capital			24.9 %			22.4 %

 

Contact Information: 
Tyler Langton, Senior Vice President of Investor Relations
303-268-8345
Investorrelations@CenturyCommunities.com

Category:
Earnings

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SOURCE Century Communities, Inc.

FAQ

How many homes did Century Communities deliver in the first quarter of 2024?

Century Communities delivered 2,358 homes in the first quarter of 2024.

What was the year-over-year increase in net income for Century Communities in the first quarter of 2024?

Century Communities saw a 93% year-over-year increase in net income for the first quarter of 2024.

What is the ticker symbol for Century Communities?

The ticker symbol for Century Communities is CCS.

What is the full year 2024 outlook for Century Communities in terms of home deliveries and revenues?

Century Communities expects to deliver 10,000 to 11,000 homes and generate home sales revenues of $3.8 billion to $4.2 billion for the full year 2024.