Century munities(US:CCS) Prnewswireยท2025-01-29 21:05Core 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]