Limited homesites now available from the $260s in Chatsworth, GACHATSWORTH, Ga., Jan. 30, 2025 /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS)—a top national homebuilder, industry leader in online home sales, and featured on America's Most Trustworthy Companies and World's Most Trustworthy Companies by Newsweek—announced that its Century Complete brand is now selling at Liberty Heights, a limited-opportunity community offering new homes in scenic Chatsworth, GA, known as the Gateway to the Appalachian ...

Century Communities, Inc. (CCS) reported mixed results in fourth-quarter 2024, wherein earnings topped the Zacks Consensus Estimate but revenues missed the same. Nonetheless, both metrics registered improvements on a year-over-year basis.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The company's fourth-quarter performance marked a record in home deliveries. For the year, the company achieved a notable rise in home deliveries compared with the prior year. Additionally, net new home ...

For the quarter ended December 2024, Century Communities (CCS) reported revenue of $1.27 billion, up 5.6% over the same period last year. EPS came in at $3.49, compared to $2.93 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.3 billion, representing a surprise of -1.68%. The company delivered an EPS surprise of +8.72%, with the consensus EPS estimate being $3.21.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________ FORM 10-K _______________________________ x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024 OR Registrant's Telephone Number, Including Area Code: (303) 770-8300 Securities registered pursuant to Section 12(b) of the Act: | | Trading | | | --- | --- | --- | | Title of each class | Symbol(s) | Name of each exchange on whi ...

Century Communities (CCS) came out with quarterly earnings of $3.49 per share, beating the Zacks Consensus Estimate of $3.21 per share. This compares to earnings of $2.93 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.72%. A quarter ago, it was expected that this single-family homebuilder would post earnings of $2.55 per share when it actually produced earnings of $2.72, delivering a surprise of 6.67%.Over the last four qua ...

Financial Data and Key Metrics Changes - Full year 2024 deliveries increased by 15% year over year to a record 11,007 homes, with Q4 deliveries of 3,198 homes and home sales revenues of $1,200,000,000, both quarterly records [5][17] - Adjusted net income for the full year increased by 36% year over year, with Q4 adjusted net income up 18% [6] - Adjusted gross margin for the full year increased by 80 basis points to 23.3% [5] - SG&A as a percentage of home sales revenues decreased by 40 basis points [6][22] - Book value per share grew to a record $84.65, a 13% year over year increase [24] Business Line Data and Key Metrics Changes - The company built nearly 100% of its homes on a spec basis in Q4 and for the full year [8] - Net new contracts for Q4 increased by 5% year over year to 2,467 homes, while full year net new contracts increased by 21% to 10,676 homes [6][19] - Average sales price for Q4 and full year was approximately $390,000, remaining among the lowest of publicly traded homebuilders [7] Market Data and Key Metrics Changes - Deliveries in the West, Texas, and Southeast regions all posted growth rates of over 20% for the full year [18] - The company ended Q4 with a community count of 322, the highest level in its history, up 28% year over year [12] - The average price of the Q4 backlog was $413,100, above the average sales price for Q4 deliveries [19] Company Strategy and Development Direction - The company aims to grow deliveries annually by 10% or more over the next couple of years, supported by increases in lot count and community count [12][25] - The company is focused on maintaining an appropriate sales pace despite elevated mortgage rates and is leveraging its captive mortgage subsidiary to provide financing options [8][25] - The company plans to continue its M&A strategy, having completed two acquisitions in 2024 to deepen its presence in existing markets [40] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about underlying demand for new homes, citing solid demographic trends despite recent mortgage rate volatility [7][25] - The company expects to manage costs effectively, with direct construction costs declining by 2% year over year [13] - Management anticipates that the first quarter of 2025 will see a decline in deliveries due to typical seasonality, but expects growth to resume in subsequent quarters [18] Other Important Information - The company repurchased over 1,000,000 shares, returning over $115,000,000 to shareholders in 2024 [23][24] - The company entered into a new credit agreement, increasing the capacity of its senior unsecured credit facility to $900,000,000 [24] Q&A Session Summary Question: Differences in traffic levels or incentives between Communities and Complete - Management noted no significant differences in incentives, with slightly more on the mortgage financing side for Century Complete [30] Question: Percentage of homes sold and closed in Q4 - Approximately 60% of homes were sold and closed within the quarter, consistent with the company's spec model [32][33] Question: Current incentive levels on orders - Incentive levels are consistent with Q4, around 900 basis points [36] Question: M&A potential for 2025 - Management is always looking at deals and has stringent underwriting criteria, with no immediate plans for additional acquisitions beyond those already made [40][41] Question: Impact of recent labor issues on construction - Management has not seen any impacts to date but is monitoring the situation closely [50][51] Question: Relative strength across different markets - The West and Mountain regions are performing well, with Southern California and Atlanta noted as strong markets [55][57] Question: ASP expectations for 2025 - The guidance implies flat to slightly down ASP, focusing on affordability [59] Question: Other income contribution details - The primary driver of other income was the disposal of a community, contributing around $20,000,000 [60] Question: Share repurchase strategy - The strategy is to prevent share count creep while opportunistically buying back shares [63]

[Financial and Operational Highlights](index=1&type=section&id=Financial_and_Operational_Highlights) [Q4 2024 Highlights](index=1&type=section&id=Q4_2024_Highlights) Record Q4 2024 deliveries and $1.3 billion revenues drove net income to $102.7 million (+13%) and adjusted net income to $112.0 million (+18%) | Metric | Q4 2024 | YoY Change | | :--- | :--- | :--- | | Net Income | $102.7 million | +13% | | Adjusted Net Income | $112.0 million | +18% | | Diluted EPS | $3.20 | +13% | | Adjusted Diluted EPS | $3.49 | +19% | | Total Revenues | $1.3 billion (Record) | +5.6% | | Home Deliveries | 3,198 homes (Record) | +1.3% | - The company achieved a record community count of **322**[3](index=3&type=chunk) [Full Year 2024 Highlights](index=1&type=section&id=Full_Year_2024_Highlights) Full year 2024 achieved record 11,007 home deliveries (+15%) and 21% growth in net new contracts, with book value per share rising 13% to a record $84.65 | Metric | Full Year 2024 | YoY Change | | :--- | :--- | :--- | | Home Deliveries | 11,007 homes (Record) | +15% | | Net New Home Contracts | 10,676 | +21% | | Book Value per Share | $84.65 (Record) | +13% | | Community Count | 322 (Record) | +28% | | Net Income | $333.8 million | +28.8% | | Adjusted Net Income | $355.1 million | +36.3% | - The company completed the strategic acquisitions of Landmark Homes of Tennessee and Anglia Homes during the year[3](index=3&type=chunk) [Executive Commentary](index=1&type=section&id=Executive_Commentary) Executives highlighted record-setting deliveries and a 21% increase in net new home contracts for 2024, attributing improved margins to direct cost controls and better fixed cost leverage, while noting a strong balance sheet with $2.6 billion in equity and $918 million in liquidity, supporting growth and share repurchases - Management emphasized that direct cost controls and improved fixed cost leverage led to an **80 basis point increase** in full-year adjusted gross margin to **23.3%**[2](index=2&type=chunk) - The company's total lot inventory increased by **9% YoY to 80,632**, with controlled lots making up **56%** of the total, indicating a strategic approach to land management[2](index=2&type=chunk) - The balance sheet is strong with **$2.6 billion** of stockholders' equity and **$918 million** of liquidity, allowing for the repurchase of over **3%** of outstanding shares in 2024[4](index=4&type=chunk) [Detailed Financial Results](index=2&type=section&id=Detailed_Financial_Results) [Fourth Quarter 2024 Results](index=2&type=section&id=Fourth_Quarter_2024_Results) Q4 2024 total revenues reached a record $1.3 billion from 3,198 deliveries, with net income of $102.7 million ($3.20 diluted EPS), adjusted gross margin of 22.9%, and SG&A at 11.5% | Metric | Q4 2024 Value | | :--- | :--- | | Total Revenues | $1.3 billion | | Home Sales Revenues | $1.2 billion | | Home Deliveries | 3,198 | | Average Sales Price (ASP) | $389,800 | | Net Income | $102.7 million | | Diluted EPS | $3.20 | | Adjusted Homebuilding Gross Margin | 22.9% | | SG&A as % of Home Sales Revenues | 11.5% | [Full Year 2024 Results](index=2&type=section&id=Full_Year_2024_Results) Full year 2024 generated $4.4 billion in total revenues and $333.8 million net income ($10.40 diluted EPS), with record 11,007 home deliveries and an adjusted homebuilding gross margin of 23.3% | Metric | Full Year 2024 Value | | :--- | :--- | | Total Revenues | $4.4 billion | | Home Sales Revenues | $4.3 billion | | Home Deliveries | 11,007 | | Average Sales Price (ASP) | $390,900 | | Net Income | $333.8 million | | Diluted EPS | $10.40 | | Adjusted Homebuilding Gross Margin | 23.3% | | SG&A as % of Home Sales Revenues | 12.0% | [Financial Services Performance](index=2&type=section&id=Financial_Services_Performance) The financial services segment contributed $26.2 million in Q4 2024 revenues ($7.9 million pre-tax income) and $92.9 million in full year revenues ($26.7 million pre-tax income) | Period | Revenues | Pre-Tax Income | | :--- | :--- | :--- | | Q4 2024 | $26.2 million | $7.9 million | | Full Year 2024 | $92.9 million | $26.7 million | [Balance Sheet and Liquidity](index=2&type=section&id=Balance_Sheet_and_Liquidity) [Financial Position](index=2&type=section&id=Financial_Position) Q4 2024 ended with a strong balance sheet, including $2.6 billion stockholders' equity and $917.5 million liquidity, supported by an increased $900.0 million credit facility extended to November 2028 - Ended Q4 2024 with **$2.6 billion** of stockholders' equity[11](index=11&type=chunk) - Total liquidity stood at **$917.5 million**, including **$153.0 million** of cash[11](index=11&type=chunk) - Increased the capacity of the senior unsecured credit facility to **$900.0 million** and extended the maturity to **November 2028**[11](index=11&type=chunk) [Capital Return and Leverage](index=3&type=section&id=Capital_Return_and_Leverage) In 2024, the company repurchased 1,027,702 shares for $83.8 million and paid $1.04 per share in dividends, while leverage improved sequentially to 27.4% net homebuilding debt to net capital at year-end - For the full year 2024, the company repurchased **1,027,702 shares** of common stock for **$83.8 million**, representing over **3%** of shares outstanding at the beginning of the year[12](index=12&type=chunk) - Paid a quarterly cash dividend of **$0.26 per share**, totaling **$1.04 per share** for the full year 2024[12](index=12&type=chunk) | Leverage Ratio | Dec 31, 2024 | Sep 30, 2024 | | :--- | :--- | :--- | | Homebuilding debt to capital | 30.3% | 35.8% | | Net homebuilding debt to net capital | 27.4% | 32.1% | [Business Outlook](index=3&type=section&id=Business_Outlook) [Full Year 2025 Outlook](index=3&type=section&id=Full_Year_2025_Outlook) The company projects 2025 home deliveries between 11,700 and 12,400 homes and home sales revenues between $4.5 billion and $4.8 billion, driven by expanded lot and community counts | 2025 Guidance | Range | | :--- | :--- | | Home Deliveries | 11,700 - 12,400 homes | | Home Sales Revenues | $4.5 - $4.8 billion | [Detailed Financial Statements](index=5&type=section&id=Detailed_Financial_Statements) [Consolidated Statements of Operations](index=5&type=section&id=Consolidated_Statements_of_Operations) The income statement shows total revenues increasing from $3.69 billion in 2023 to $4.40 billion in 2024, with net income growing from $259.2 million to $333.8 million and diluted EPS rising from $8.05 to $10.40 | (in thousands) | Year Ended Dec 31, 2024 | Year Ended Dec 31, 2023 | | :--- | :--- | :--- | | Total Revenues | $4,398,288 | $3,692,185 | | Income before income tax | $440,060 | $350,830 | | Net Income | $333,816 | $259,224 | | Diluted EPS | $10.40 | $8.05 | [Consolidated Balance Sheets](index=6&type=section&id=Consolidated_Balance_Sheets) As of December 31, 2024, the balance sheet shows total assets of $4.53 billion (up from $4.14 billion in 2023) and total stockholders' equity of $2.62 billion (up from $2.39 billion), reflecting strong earnings retention | (in thousands) | Dec 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $149,998 | $226,150 | | Inventories | $3,454,337 | $3,016,641 | | Total Assets | $4,532,472 | $4,139,362 | | Total Liabilities | $1,911,616 | $1,752,426 | | Total Stockholders' Equity | $2,620,856 | $2,386,936 | [Homebuilding Operational Data](index=7&type=section&id=Homebuilding_Operational_Data) [Net New Home Contracts](index=7&type=section&id=Net_New_Home_Contracts) Full year 2024 net new home contracts increased 20.9% YoY to 10,676, with strong regional growth, while Q4 2024 contracts rose 5.4% YoY to 2,467, led by a 32.0% increase in Texas | Region | FY 2024 Contracts | YoY Change | | :--- | :--- | :--- | | West | 1,490 | +28.6% | | Mountain | 2,005 | +24.2% | | Texas | 1,987 | +21.9% | | Southeast | 1,619 | +24.9% | | Century Complete | 3,575 | +14.3% | | **Total** | **10,676** | **+20.9%** | [Home Deliveries](index=7&type=section&id=Home_Deliveries) Full year 2024 home deliveries reached a record 11,007 (+15.0%), with the total weighted average sales price increasing 3.8% to $390,900, and the West region showing the largest ASP growth | Region | FY 2024 Deliveries | YoY Change | | :--- | :--- | :--- | | West | 1,437 | +26.8% | | Mountain | 2,019 | +6.7% | | Texas | 2,077 | +28.4% | | Southeast | 1,654 | +20.7% | | Century Complete | 3,820 | +7.4% | | **Total** | **11,007** | **+15.0%** | [Selling Communities](index=8&type=section&id=Selling_Communities) The company expanded its total selling communities by 28.3% YoY to a record 322 as of December 31, 2024, with Texas (+81.4%) and Southeast (+55.6%) showing the largest percentage increases | Region | Communities at 12/31/24 | YoY Change | | :--- | :--- | :--- | | Texas | 78 | +81.4% | | Southeast | 42 | +55.6% | | Century Complete | 123 | +19.4% | | West | 30 | +11.1% | | Mountain | 49 | -3.9% | | **Total** | **322** | **+28.3%** | [Backlog](index=8&type=section&id=Backlog) Year-end 2024 backlog stood at 850 homes ($351.2 million), representing a 20.6% decrease in homes and 12.4% decrease in dollar value YoY, despite a 10.3% increase in average sales price to $413,100 | Metric | As of Dec 31, 2024 | YoY Change | | :--- | :--- | :--- | | Homes in Backlog | 850 | -20.6% | | Backlog Dollar Value | $351.2 million | -12.4% | | Average Sales Price | $413,100 | +10.3% | [Lot Inventory](index=8&type=section&id=Lot_Inventory) Total lot inventory grew 9.4% YoY to 80,632 lots, with controlled lots comprising 55.7% of the total, indicating a continued strategic approach to land acquisition | Lot Type | As of Dec 31, 2024 | YoY Change | | :--- | :--- | :--- | | Owned Lots | 35,756 | +16.8% | | Controlled Lots | 44,876 | +4.1% | | **Total Lots** | **80,632** | **+9.4%** | - The percentage of controlled lots was **55.7%** of the total lot inventory at the end of 2024[28](index=28&type=chunk) [Reconciliation of Non-GAAP Financial Measures](index=9&type=section&id=Reconciliation_of_Non-GAAP_Financial_Measures) [Adjusted Net Income and Adjusted EPS](index=9&type=section&id=Adjusted_Net_Income_and_Adjusted_EPS) The company reconciles GAAP Net Income to Adjusted Net Income, which excludes specific items, showing FY 2024 Adjusted Net Income at $355.1 million ($11.06 diluted EPS) versus GAAP Net Income of $333.8 million ($10.40 diluted EPS) | (in thousands) | Full Year 2024 | Full Year 2023 | | :--- | :--- | :--- | | Net Income (GAAP) | $333,816 | $259,224 | | Adjustments (Impairment, etc.) | $28,123 | $1,877 | | Adjusted Net Income (Non-GAAP) | $355,149 | $260,611 | | Diluted EPS (GAAP) | $10.40 | $8.05 | | Adjusted Diluted EPS (Non-GAAP) | $11.06 | $8.09 | [Adjusted Homebuilding Gross Margin](index=10&type=section&id=Adjusted_Homebuilding_Gross_Margin) This section reconciles GAAP homebuilding gross margin to the adjusted figure, showing FY 2024 adjusted margin at 23.3%, an 80 basis point improvement from 2023, compared to the GAAP margin of 21.5% | (in thousands) | Full Year 2024 | % of Revenue | | :--- | :--- | :--- | | Homebuilding Gross Margin (GAAP) | $924,729 | 21.5% | | Add: Inventory Impairment | $8,778 | 0.2% | | Add: Interest in cost of sales | $60,286 | 1.4% | | Add: Purchase price accounting | $9,443 | 0.2% | | Adjusted Gross Margin (Non-GAAP) | $1,003,236 | 23.3% | [EBITDA and Adjusted EBITDA](index=11&type=section&id=EBITDA_and_Adjusted_EBITDA) This section reconciles Net Income to EBITDA and Adjusted EBITDA, with FY 2024 Adjusted EBITDA reaching $550.0 million, a 35.1% increase YoY after specific adjustments | (in thousands) | Full Year 2024 | Full Year 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Net Income | $333,816 | $259,224 | +28.8% | | EBITDA | $521,899 | $405,309 | +28.8% | | Adjusted EBITDA | $550,022 | $407,186 | +35.1% | [Ratio of Net Homebuilding Debt to Net Capital](index=12&type=section&id=Ratio_of_Net_Homebuilding_Debt_to_Net_Capital) The company's net leverage ratio, net homebuilding debt to net capital, was 27.4% as of December 31, 2024, an increase from 22.4% in 2023, reflecting higher debt to support growth | (in thousands) | Dec 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Total Homebuilding Debt | $1,140,973 | $1,017,576 | | Less: Cash | ($153,002) | ($327,995) | | Net Homebuilding Debt | $987,971 | $689,581 | | Total Stockholders' Equity | $2,620,856 | $2,386,936 | | **Net Debt to Net Capital** | **27.4%** | **22.4%** |

Core Insights - Century Communities, Inc. reported a record fourth quarter with home deliveries of 3,198 homes, a 13% sequential increase, and a full year delivery of 11,007 homes, marking a 15% increase year-over-year [4][10] - The company achieved a net income of $102.7 million for Q4 2024, representing a 13% increase year-over-year, and a full year net income of $333.8 million, up 28.8% from the previous year [5][11] - The outlook for 2025 anticipates home deliveries between 11,700 and 12,400 homes, with expected home sales revenues ranging from $4.5 billion to $4.8 billion [4][17] Fourth Quarter 2024 Highlights - Total revenues for Q4 2024 reached $1.3 billion, with home sales revenues of $1.2 billion [5][10] - Adjusted net income for Q4 was $112.0 million, an 18% increase year-over-year, translating to $3.49 per diluted share [5][10] - The average sales price of home deliveries in Q4 was $389,800 [5][10] Full Year 2024 Highlights - Full year total revenues were $4.4 billion, with home sales revenues of $4.3 billion [11][12] - The adjusted homebuilding gross margin for the year was 23.3%, an increase of 80 basis points from the previous year [4][12] - The company repurchased over 1 million shares of common stock, representing more than 3% of shares outstanding at the beginning of the year [4][15] Financial Position - As of December 31, 2024, the company had $2.6 billion in stockholders' equity and $918 million in liquidity [4][14] - The ratio of net homebuilding debt to net capital improved to 27.4% from 32.1% at the end of Q3 2024 [16][37] - The company maintained a quarterly cash dividend of $0.26 per share [15] Operational Data - The total lot inventory increased by 9% year-over-year to 80,632 lots, with controlled lots making up 56% of the total [4][10] - The community count grew by 28% year-over-year to a record 322 communities [4][10] - Net new home contracts for the full year totaled 10,676, reflecting a 21% increase year-over-year [11][12]

Affordable single-story living just minutes from the coastPENSACOLA, Fla., Jan. 27, 2025 /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS)— a top national homebuilder, industry leader in online home sales, and featured on America's Most Trustworthy Companies and World's Most Trustworthy Companies by Newsweek—revealed that its Century Complete brand is now selling cottage-style homes in Pensacola, FL. Lanier Floor Plan | New Homes in Pensacola, FL by Century Complete Carolina Floor Plan | New Homes ...

Core Insights - Century Communities, Inc. is launching a new community called Uplands in Puyallup, Washington, with a Grand Opening event scheduled for January 25, 2025, featuring the debut of the Asher model home [1][2][3] Company Overview - Century Communities is recognized as one of the largest homebuilders in the U.S. and is a leader in online home sales, having been ranked on Newsweek's lists of America's and the World's Most Trustworthy Companies for 2024 [5][8] - The company operates in 17 states and over 45 markets across the U.S., providing a range of services including title, insurance, and lending through its subsidiaries [8] Product Offering - The Uplands community will feature two-story single-family homes ranging from 3 to 5 bedrooms and 2.25 to 2.75 bathrooms, with sizes up to 2,741 square feet [6] - Homes will include luxury features such as gourmet kitchens with quartz countertops, primary suites with walk-in closets, and landscaped yards [6] Community Amenities - Uplands will offer resort-style amenities including a clubhouse with views of Mt. Rainier, a fitness center, a pool and spa, pickleball courts, parks, and urban trails [6] Pricing Information - Homes in the Uplands community are expected to start from the mid $600,000s [3]