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CCS-News
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Century Communities Reports Q2 Revenue of $927.2M, Net Orders Up 3%
Reports Q2 revenue $927.2M vs. $1.00B last year. "We delivered strong Q2 results despite continued headwinds from macro challenges and weak consumer sentiment, with earnings per diluted share of $1.26 increasing by 11% on a year-over-year basis and 50% sequentially," said Dale Francescon, Executive Chairman. "We continued to invest in our business and ended the quarter with 330 open communities, a company record. Our balance sheet remains strong with $2.6B of stockholders' equity and $802M of liquidity, and we repurchased 352,811 shares of our common stock for $19.6M at a 38% discount to our company record book value per share of $90.24 while maintaining our quarterly cash dividend of $0.32 per share and continuing to position Century for future growth." CEO Rob Francescon said, "Our deliveries of 2,506 homes grew by 25% on a sequential basis and exceeded our guidance on stronger order activity, with our net orders of 2,615 homes increasing by 3% on a year-over-year basis and 10% sequentially. Our net orders were relatively stable throughout the quarter, with our traffic posting a sequential gain of 9% in Q2. Our adjusted homebuilding gross margin of 20.0% increased by 30 basis points on a sequential basis, benefitting from lower incentives and direct costs as we controlled our costs and inventory levels."
Century Communities Raises 2026 Home Delivery Guidance to 9,750-10,500 Homes
Century Communities raised the midpoint and low end of 2026 home delivery guidance to 9,750-10,500 homes, with home sales revenues expected to be $3.5B-$3.8B."
Company Lowers 2026 Home Delivery Guidance to 9,500 to 10,500 Units
Scott Dixon, CFO of the company, commented, "Given the impact of the conflict in the Middle East as well as higher gas prices and interest rates on our order activity, we are reducing our full year 2026 home delivery guidance to be in the range of 9,500 to 10,500 homes and our home sales revenues to be in the range of $3.5 billion to $3.8 billion."
Century Reports Q1 Revenue of $789.7M
Reports Q1 revenue $789.7M vs. $903.23M last year. Rob Francescon, Chief Executive Officer and President, said, "Our adjusted homebuilding gross margin of 19.7% increased by 140 basis points on a sequential basis, benefitting from lower incentives and direct costs, and we decreased our finished specs at the end of the first quarter by 16% sequentially and 31% versus the prior-year quarter. Our balance sheet remains strong with $2.6 billion of stockholders' equity and $886 million of liquidity, and we repurchased 617,087 shares of our common stock for $40.0 million and increased our quarterly cash dividend by 10% to $0.32 per share while continuing to position Century for future growth."
Century Communities Declares Quarterly Cash Dividend of $0.32
Century Communities announced that its Board of Directors has declared a quarterly cash dividend of 32c per share, an increase of 10% over the previous $29c per share. This dividend is payable on March 11 to stockholders of record as of the close of business on February 25.
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