GREENWOOD VILLAGE, Colo., Oct. 22, 2025 /PRNewswire/ -- Century Communities, Inc. (NYSE:CCS), one of the nation's largest homebuilders, today announced financial results for its third quarter ended September 30, 2025.
Third Quarter 2025 Highlights
Net income of $37.4 million, or $1.25 per diluted share
Adjusted net income of $45.7 million, or $1.52 per diluted share
Total revenues of $980.3 million
Community count of 321
Deliveries of 2,486 homes
Net new home contracts of 2,386
Homebuilding gross margin of 17.9%
Adjusted homebuilding gross margin of 20.1%
Repurchased 296,903 shares of common stock for $20.0 million
Closed on private offering of $500 million of 6.625% Senior Notes due 2033 and extinguished $500 million of 6.750% Senior Notes due 2027
"In the third quarter, we performed well in a challenging environment and generated solid financial and operational results, meeting or exceeding our expectations, including the delivery of 2,486 homes to achieve the high end of our guidance," said Dale Francescon, Executive Chairman. "While buyers remain cautious given the current level of economic uncertainty, they still have a desire to own a new home. We expect any interest rate relief and improvement in consumer confidence will start to unlock buyer demand, which Century is well positioned to meet given the growth in our community count."
Rob Francescon, Chief Executive Officer and President, said, "Our adjusted homebuilding gross margin of 20.1% was consistent with second quarter 2025 levels, as we continued to see reductions in our direct costs and were able to limit increases in our incentives even in the seasonally slower third quarter. Our balance sheet remains strong with $2.6 billion of stockholders' equity and $836 million of liquidity, and our book value per share increased to $87.74, a Company record. In the third quarter, we repurchased an additional 296,903 shares of our common stock for $20.0 million, which coupled with our purchases earlier in the year, represents a reduction of 6% from shares outstanding at the beginning of the year."
Third Quarter 2025 Results
Net income for the third quarter 2025 was $37.4 million, or $1.25 per diluted share. Adjusted net income was $45.7 million, or $1.52 per diluted share.
Total revenues were $980.3 million, with third quarter home sales revenues totaling $955.2 million. Deliveries totaled 2,486 homes. The average sales price of home deliveries for the third quarter 2025 was $384,200.
Net new home contracts in the third quarter 2025 were 2,386, and at the end of the third quarter 2025, the Company had 1,117 homes in backlog, representing $416.9 million of backlog dollar value.
Adjusted homebuilding gross margin percentage, excluding interest, inventory impairment and purchase price accounting, was 20.1% in the third quarter of 2025. Homebuilding gross margin percentage excluding inventory impairment in the third quarter 2025 was 18.3%, and homebuilding gross margin was 17.9% compared to 17.6% for the second quarter of 2025. Selling, general, and administrative expenses as a percent of home sales revenues was 12.6% in the quarter. Adjusted EBITDA and EBITDA for the third quarter 2025 were $82.3 million and $69.7 million, respectively.
Financial services revenues and pre-tax income were $19.4 million and $3.0 million, respectively, in the third quarter 2025.
Balance Sheet and Liquidity
The Company ended the third quarter 2025 with a strong financial position, including $2.6 billion of stockholders' equity and $835.8 million of total liquidity, including $174.8 million of cash. During the quarter, we closed on a private offering of $500 million of 6.625% Senior Notes due 2033, with the proceeds being used to redeem our $500 million of 6.750% Senior Notes due 2027.
Our book value per share was a Company record $87.74 as of September 30, 2025.
During the third quarter, consistent with our disciplined capital allocation approach to enhance the long-term value of the Company and return capital to our shareholders, we maintained our quarterly cash dividend of $0.29 per share and repurchased 296,903 shares of common stock for $20.0 million.
As of September 30, 2025, homebuilding debt to capital equaled 34.5% and net homebuilding debt to net capital equaled 31.4%.
Full Year 2025 Outlook
Scott Dixon, Chief Financial Officer of the Company, commented, "We are narrowing our full year 2025 home delivery guidance to be in the range of 10,000 to 10,250 homes and our home sales revenues to be in the range of $3.8 to $3.9 billion."
Webcast and Conference Call
The Company will host a webcast and conference call on Wednesday, October 22, 2025, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, to review the Company's third quarter 2025 results, provide commentary, and conduct a question-and-answer session. To participate in the call, please dial 800-549-8228 (domestic) or 646-564-2877 (international) and enter the conference ID 80774. The live webcast will be available at www.centurycommunities.com in the Investors section. A replay of the conference call will be available through October 29, 2025, by dialing 888-660-6264 (domestic) or 646-517-3975 (international) and entering conference ID 80774. A replay of the webcast will be available on the Company's website for at least one year.
About Century Communities
Century Communities, Inc. (NYSE:CCS) is one of the nation's largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America's Most Trustworthy Companies for three consecutive years, and one of the World's Most Trustworthy Companies (2025). Century Communities has also been designated as one of U.S. News & World Report's Best Companies to Work For (2025-2026). Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding, including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.
Non-GAAP Financial Measures
In addition to the Company's operating results presented in accordance with United States generally accepted accounting principles (GAAP), this press release includes the following non-GAAP financial measures: adjusted net income, adjusted diluted earnings per share, adjusted homebuilding gross margin, EBITDA, adjusted EBITDA, and ratio of net homebuilding debt to net capital. These non-GAAP financial measures should not be used as a substitute for the Company's operating results presented in accordance with GAAP, and an analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP. Please refer to the reconciliation of each of the above referenced non-GAAP financial measures following the historical financial information presented in this press release.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "intend," "estimate," "plan," "continue," "will," "may," "should," "potential," "guidance" and "outlook" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include the Company's operating and financial guidance for 2025, including without limitation anticipated home deliveries and revenues, and the Company's expectation that expect any interest rate relief and improvement in consumer confidence will start to unlock buyer demand. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. The following important factors could cause actual results to differ materially from those expressed in the forward-looking statement: adverse changes in general economic conditions, including increased interest rates, inflation, and employment levels; lower consumer confidence; the potential impact of tariffs and increased costs, immigration reform, global supply chain disruptions, labor, land and raw material or other resource shortages and delays, and municipal and utility delays on the Company's business, industry and the broader economy; the ability to identify and acquire desirable land; availability and cost of financing; the effect of tax changes; reliance on contractors and key personnel; availability and pricing for land, labor and raw materials and other resources; home incentive levels; future impairment and restructuring charges; the ability to pay dividends in the future; and the other factors included in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law.
Century Communities, Inc.
Consolidated Statements of Operations
(Unaudited)
(in thousands, except share and per share amounts)
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
Revenues
Homebuilding Revenues
Home sales revenues
$
955,162
$
1,116,125
$
2,815,365
$
3,055,941
Land sales and other revenues
5,764
650
7,209
2,242
Total homebuilding revenues
960,926
1,116,775
2,822,574
3,058,183
Financial services revenues
19,358
20,091
61,666
66,676
Total revenues
980,284
1,136,866
2,884,240
3,124,859
Homebuilding Cost of Revenues
Cost of home sales revenues
(780,566)
(873,081)
(2,285,233)
(2,386,208)
Cost of land sales and other revenues
(6,303)
(170)
(7,199)
(207)
Total homebuilding cost of revenues
(786,869)
(873,251)
(2,292,432)
(2,386,415)
Financial services costs
(16,371)
(17,021)
(50,095)
(47,894)
Selling, general, and administrative
(119,895)
(132,972)
(369,491)
(373,054)
Inventory impairment
(3,180)
(1,373)
(10,951)
(1,942)
Other (expense) income, net
(6,131)
(2,337)
(13,832)
(10,690)
Income before income tax expense
47,838
109,912
147,439
304,864
Income tax expense
(10,435)
(26,892)
(35,798)
(73,789)
Net income
$
37,403
$
83,020
$
111,641
$
231,075
Earnings per share:
Basic
$
1.26
$
2.65
$
3.69
$
7.31
Diluted
$
1.25
$
2.59
$
3.65
$
7.19
Weighted average common shares outstanding:
Basic
29,645,795
31,336,756
30,266,752
31,596,995
Diluted
30,019,153
32,025,015
30,611,011
32,117,917
Century Communities, Inc.
Consolidated Balance Sheets
(Unaudited)
(in thousands, except share amounts)
September 30,
December 31,
2025
2024
Assets
(unaudited)
(audited)
Cash and cash equivalents
$
130,075
$
149,998
Cash held in escrow
44,717
3,004
Accounts receivable
70,454
50,318
Inventories
3,584,246
3,454,337
Mortgage loans held for sale
183,527
236,926
Prepaid expenses and other assets
525,345
419,384
Property and equipment, net
91,800
155,176
Deferred tax assets, net
22,702
22,220
Goodwill
41,109
41,109
Total assets
$
4,693,975
$
4,532,472
Liabilities and stockholders' equity
Liabilities:
Accounts payable
$
168,989
$
133,086
Accrued expenses and other liabilities
283,990
302,317
Notes payable
1,147,370
1,107,909
Revolving line of credit
339,000
135,500
Mortgage repurchase facilities
176,604
232,804
Total liabilities
2,115,953
1,911,616
Stockholders' equity:
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none outstanding
—
—
Common stock, $0.01 par value, 100,000,000 shares authorized, 29,383,819 and 30,961,227 shares issued
\and outstanding at September 30, 2025 and December 31, 2024, respectively
294
310
Additional paid-in capital
399,491
526,959
Retained earnings
2,178,237
2,093,587
Total stockholders' equity
2,578,022
2,620,856
Total liabilities and stockholders' equity
$
4,693,975
$
4,532,472
Century Communities, Inc.
Homebuilding Operational Data
(Unaudited)
Net New Home Contracts
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
% Change
2025
2024
% Change
West
337
365
(7.7)
%
1,052
1,181
(10.9)
%
Mountain
418
463
(9.7)
%
1,216
1,626
(25.2)
%
Texas
433
454
(4.6)
%
1,436
1,488
(3.5)
%
Southeast
388
396
(2.0)
%
1,159
1,232
(5.9)
%
Century Complete
810
885
(8.5)
%
2,761
2,682
2.9
%
Total
2,386
2,563
(6.9)
%
7,624
8,209
(7.1)
%
Home Deliveries
(dollars in thousands)
