Both Grand Opening events will take place on Saturday, October 26 from 12 to 3 p.m., featuring seasonal festivities, model tours, and limited-time savings opportunities."We're thrilled to welcome homebuyers to these anticipated new communities in fast-growing Merced," said Allen Bennett, Central Valley Division President. "Boasting modern open-concept floor plans on large homesites—and at a great value—we look forward to helping local homebuyers find their dream home."Learn more at www.CenturyCommunities.co ...

Financial Data and Key Metrics Changes - In Q3 2024, the company reported a net income of $83 million, or $2.59 per diluted share, with adjusted net income of $87 million, or $2.72 per diluted share [10] - Home sales revenues reached $1.1 billion, reflecting a 29% increase year-over-year and a 10% increase sequentially [10] - The adjusted homebuilding gross margin was 23.6%, slightly down from 24% in the previous quarter, while SG&A as a percentage of home sales revenue decreased to 11.9% from 12.9% year-over-year [11][12] Business Line Data and Key Metrics Changes - The company delivered 2,834 homes in Q3, a record high, representing a 25% increase year-over-year and an 8% increase sequentially [3] - Net new contracts for the quarter totaled 2,563, up 19% year-over-year, with significant growth in all regions, particularly the West (36% increase) and Texas (20% increase) [3][4] - The average sales price for homes was $394,000, remaining competitive among publicly traded homebuilders [4] Market Data and Key Metrics Changes - The company ended Q3 with over 80,000 owned and controlled lots, a 17% year-over-year increase, with Texas, the Southeast, and Century Complete accounting for 73% of the total lot count [6][7] - The community count reached 305, marking a 21% increase year-over-year and a 15% sequential increase [7] - The backlog of sold homes at the end of the quarter was 1,580, valued at $671.4 million, with an average price of $424,900 [10] Company Strategy and Development Direction - The company aims for delivery growth of 10% or more annually starting in 2025, driven by increased market share and improved margins [5] - Recent acquisitions, including Anglia Homes, are part of a strategy to deepen market presence in existing areas while maintaining a land-light approach [5][6] - The focus remains on affordable entry-level homes, positioning the company to benefit from potential declines in mortgage rates [4] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning for growth, citing strong demand for affordable homes and improvements in mortgage affordability due to declining rates [13] - The company anticipates stable order activity in Q4, despite a moderation in orders observed in October due to rising mortgage rates [3][26] - Management highlighted the importance of maintaining cost control and improving cycle times to support future growth [12][13] Other Important Information - The company maintained a quarterly cash dividend of $0.26 per share and reported a record book value per share of $81.29, a 13% year-over-year increase [12] - Century Communities was recognized on Newsweek's list of the World's Most Trustworthy Companies for 2024, reflecting a strong company culture [9] Q&A Session Summary Question: What percentage of the additional option lots are finished lot option contracts? - Management indicated that the additional option lots are a mix of finished lot option contracts and other types, with no predominant category [14][15] Question: Who do you think you can take market share from? - Management believes the primary competition will come from private homebuilders, who are facing challenges compared to public builders [16][17] Question: What was the start number for the quarter? - The company reported starting 3,158 homes in Q3, with nearly 10,000 homes started year-to-date [18][19] Question: What are the incentives on orders for Q3? - Incentives on orders averaged around 800 basis points in Q3, up from 700 basis points in Q2, split approximately 50-50 between price reductions and mortgage buydowns [20][22] Question: Any notable change in your cancellation rate in the quarter? - The cancellation rate remained consistent, benefiting from the spec homebuilding model and buyer understanding of home delivery timing [24] Question: What impact should we expect from purchase accounting in Q4? - Management expects a drag of 30 to 50 basis points from purchase accounting in Q4 and Q1, tapering off in Q2 of the following year [32] Question: How did Anglia contribute to closings in Q3? - Anglia contributed less than 2% to the overall closings for the quarter due to the timing of the acquisition [31] Question: What are the expectations for lot cost increases into next year? - Management anticipates stable lot costs in Q4 and early Q1, with normal cost inflation expected in the latter half of 2025 [35]

Century Communities (CCS) reported $1.14 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 27.8%. EPS of $2.72 for the same period compares to $2.58 a year ago.The reported revenue represents a surprise of +4.08% over the Zacks Consensus Estimate of $1.09 billion. With the consensus EPS estimate being $2.55, the EPS surprise was +6.67%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36491 | --- | --- | --- | --- | |-------|-------------------------------------------------------------------------------------------|------------------------ ...

Century Communities (CCS) came out with quarterly earnings of $2.72 per share, beating the Zacks Consensus Estimate of $2.55 per share. This compares to earnings of $2.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.67%. A quarter ago, it was expected that this single-family homebuilder would post earnings of $2.46 per share when it actually produced earnings of $2.65, delivering a surprise of 7.72%.Over the last four qua ...

Century Communities Reports Third Quarter 2024 Results - Home Sales Revenues of $1.1 Billion Increased 29% YoY - - Deliveries of 2,834 Homes Increased 25% YoY - - Net New Home Contracts of 2,563 Increased 19% YoY - - Community Count of 305, a Company Record, Increased 21% YoY - Greenwood Village, Colorado (October 23, 2024) – Century Communities, Inc. (NYSE: CCS), one of the nation's largest homebuilders, today announced financial results for its third quarter ended September 30, 2024. Third Quarter 2024 Hi ...

- Home Sales Revenues of $1.1 Billion Increased 29% YoY -- Deliveries of 2,834 Homes Increased 25% YoY -- Net New Home Contracts of 2,563 Increased 19% YoY -- Community Count of 305, a Company Record, Increased 21% YoY - GREENWOOD VILLAGE, Colo., Oct. 23, 2024 /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS), one of the nation's largest homebuilders, today announced financial results for its third quarter ended September 30, 2024.Third Quarter 2024 HighlightsNet income of $83.0 million, or $2.59 per di ...

U.S. homebuilders are a lot more confident than they were earlier in the year as inflationary pressures continue to ease. With the Federal Reserve finally beginning its easing cycle last month with a jumbo rate cut, homebuilders are confident that mortgage rates will ease in the near term and will boost sales.Given this situation, investing in homebuilding stocks like KB Home (KBH) , Toll Brothers Inc. (TOL) , Century Communities, Inc. (CCS) and Tri Pointe Homes, Inc. (TPH) would be an ideal choice.Homebuil ...

Core Insights - Century Communities, Inc. is expanding its new home offerings in the Greater Nashville area with several new communities to meet the demand for quality homes in fast-growing locations [1][2] - The company is recognized as a leader in online home sales and has been featured on Newsweek's lists of America's and the World's Most Trustworthy Companies [1][8] New Communities Overview - **Slatewood in Murfreesboro**: Opening in November, offering single-family homes starting from the $700s, with floor plans featuring 4 to 5 bedrooms and up to 3,864 square feet [3] - **Averitt Landing in Lebanon**: Currently under construction and pre-selling from the low $500s, featuring homes with 4 to 5 bedrooms and up to 3,271 square feet [4] - **Canebrake at Hickory Hills in Old Hickory**: Under construction and pre-selling from the high $400s, offering homes with 3 to 5 bedrooms and up to 3,271 square feet [4] - **Morgan's Place in Ashland City**: Now selling from the high $300s, featuring single-family homes with 3 to 4 bedrooms and up to 2,570 square feet [5] - **Highland Reserves in Pleasant View**: Now selling from the high $400s, offering homes with 4 to 5 bedrooms and up to 3,271 square feet [5] Online Homebuying Experience - Century Communities offers an industry-first online homebuying experience, allowing customers to shop and purchase homes electronically [6][7] - The process includes selecting a home, filling out a form, submitting a deposit, and signing a contract electronically [7] Company Background - Century Communities is one of the largest homebuilders in the U.S., operating in 18 states and over 45 markets, and also provides title, insurance, and lending services through its subsidiaries [8]

Century Communities, Inc. (CCS) is set to report its third-quarter 2024 results on Oct. 23 after market close.In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate by 7.7% and increased 65.6% year over year. Net sales missed the consensus mark by 0.4% but increased 23.1% from the prior-year quarter’s level.Find the latest earnings estimates and surprises on Zacks Earnings Calendar.CCS’ bottom line topped the consensus mark in each of the trailing four quarters, with an avera ...