Online homebuying pioneer offering attractive single-family homes from the mid $300s DETROIT, May 14, 2024 /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS)—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—revealed that its Century Complete brand is now selling new homes in Newport, MI at Newport Creek. Dupont Floor Plan Exterior Rendering | New Homes in Newport, MI | Newp ...

Top homebuilder set to begin selling new phase of single-family homes near Provo MAPLETON, Utah, May 13, 2024 /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS)—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—revealed a new model home, featuring the company's popular Summit floor plan, at Mapleton Heights in Mapleton, UT. The unveiling comes ahead of a grand opening event, ...

Trusted homebuilder bringing over 80 new single-family homes to Cleburne, TexasCLEBURNE, Texas, May 9, 2024 /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS)—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—announced that it's now selling at Courtland Place, the company's anticipated new community in Cleburne, Texas. Bringing attractive, affordable housing to the area, Cou ...

New Sales Studio offers in-person support and resources from the national leader in online homebuyingCAPE CORAL, Fla., April 29, 2024 /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS)—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—announced the grand opening of its Century Complete brand's new Sales Studio in Cape Coral—the sixth studio opening in Florida this year. C ...

Aspiring homeowners did not have a great 2023. While mortgage rates and residential prices steadily went up, average monthly mortgage payments hit levels that were unheard of. People on the lookout to buy homes and existing homeowners with a flexible mortgage plan felt the heat.The restrictive monetary policy employed by the Fed to tackle the four-decade-high inflation in the United States was almost singularly responsible for home prices shooting through the roof. However, with the first rate cut expected ...

Financial Data and Key Metrics Changes - Deliveries of 2,358 homes increased by 23% year-over-year, marking the second highest level of first quarter deliveries in the company's history [9] - Revenues for the first quarter reached $949 million, a 26% increase compared to the prior-year period [9][35] - Adjusted diluted earnings per share rose to $2.22, reflecting a 114% year-over-year increase [9][51] - Average sales price was $391,200, up 4% sequentially [35] - SG&A as a percentage of home sales revenue decreased to 12.4% from 13.4% year-over-year [37] - Home building debt to capital ratio decreased to 29.4% from 29.9% at the end of the previous quarter [38] Business Line Data and Key Metrics Changes - Century Complete accounted for 33% of first quarter deliveries, down from 39% in the fourth quarter of 2023 [35][81] - The average sales price for Century Complete homes is in the range of $260,000 to $275,000, with a 35% quarter-over-quarter increase in sales [87] - The company opened 42 new communities and closed 40 during the quarter, with a community count of 253, the highest in its history [15][16] Market Data and Key Metrics Changes - The Southeast region experienced the highest growth rate in deliveries at 91% year-over-year [18] - Monthly absorption rates averaged 3.8 in the first quarter, up from 2.9 in the prior-year period [28] - The backlog of sold homes at the end of the first quarter was 1,590 units valued at $667 million, with an average price of $420,000 [52] Company Strategy and Development Direction - The company focuses on affordability, with over 90% of deliveries priced below FHA limits, positioning itself for future growth [10] - The strategy includes a land-light approach, acquiring finished lots where possible, with approximately 75,000 owned and controlled lots, a 46% year-over-year increase [31][60] - The company anticipates community count growth throughout 2024, with increases more heavily weighted towards the second half of the year [78] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about strong demand for affordable homes and the ability to manage costs effectively [20] - The company is maintaining its guidance for full-year 2024 deliveries in the range of 10,000 to 11,000 homes, citing uncertainty around interest rates [39] - Management noted that while there is positive momentum, they are cautious about potential interest rate fluctuations impacting the business [58] Other Important Information - The company was recognized as the highest ranked homebuilder on Newsweek's list of America's Most Trustworthy Companies for the second consecutive year [29] - The company increased its quarterly cash dividend by 13% to $0.26 per share and repurchased 186,887 shares for $16.1 million [38] Q&A Session Summary Question: What is the expected timeline for lots being ready to build? - Management indicated that lots range from finished lots ready for immediate use to full development deals with third-party developers [42] Question: What percentage of optioned lots are with third-party developers? - Management stated that Century Complete relies entirely on third-party developers for finished lots, while the Communities brand develops with both third-party and in-house efforts [43] Question: Will incentives decline sequentially in the second quarter? - Management acknowledged a potential drag from purchase accounting related to a recent acquisition, which may affect margins in the upcoming quarters [45] Question: What percentage of closings in the first quarter used a mortgage rate buydown? - Over 75% of buyers utilized some form of mortgage incentive [73] Question: What are the capital allocation priorities regarding share buybacks? - The company has over one million shares authorized for buyback and will consider market dislocations compared to book price for future buybacks [89]

Century Communities (CCS) reported $948.54 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 26%. EPS of $2.22 for the same period compares to $1.04 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $791.67 million, representing a surprise of +19.82%. The company delivered an EPS surprise of +43.23%, with the consensus EPS estimate being $1.55.While investors scrutinize revenue and earnings changes year-over-year and how they compare wit ...

Century Communities (CCS) came out with quarterly earnings of $2.22 per share, beating the Zacks Consensus Estimate of $1.55 per share. This compares to earnings of $1.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 43.23%. A quarter ago, it was expected that this single-family homebuilder would post earnings of $2.27 per share when it actually produced earnings of $2.93, delivering a surprise of 29.07%.Over the last four q ...

Market risk is the risk of loss arising from adverse changes in market rates and prices, such as interest rates, foreign currency exchange rates and commodity prices. Our primary exposure to market risk is interest rate risk associated with our Second A&R Credit Agreement and construction loan agreements. There have been no material changes in our market risk since December 31, 2023. For additional information regarding our market risk, refer to the "Quantitative and Qualitative Disclosures About Market Ris ...

- 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, Colorado (April 24, 2024) – Century Communities, Inc. (NYSE: CCS), ...