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Jun 30, 2020
Century Communities Q2 2020 Earnings Report
Century Communities achieved record results driven by robust homebuilding environment.
Key Takeaways
Century Communities reported record second quarter 2020 results, with home deliveries growing 26% to a company record of 2,480 homes and net new home contracts increasing 22% to a company record of 2,664 homes. Net homebuilding debt to net capital improved 910 basis points to 37.5%.
Adjusted net income increased 71% to a record $40.3 million, or $1.21 per diluted share and net income increased 148% to a record $38.5 million, or $1.15 per diluted share.
Home sales revenues increased 23% to a record $747.4 million.
Home deliveries grew to a Company record 2,480 homes or 26%.
Net new home contracts increased 22% to a Company record 2,664 homes.
Century Communities
Century Communities
Century Communities Revenue by Segment
Century Communities Revenue by Geographic Location
Revenue by Segment
Home Sales Revenue
CapyFin.comLand Sales Revenue
CapyFin.comFinancial Services Revenue
CapyFin.comRevenue by Geographic Location
West Revenue
CapyFin.comMountain Revenue
CapyFin.comTexas Revenue
CapyFin.comSoutheast Revenue
CapyFin.comCentury Complete Revenue
CapyFin.com Forward Guidance
Century Communities provides full year guidance of deliveries in the range of 8,800 to 9,500 homes and home sales revenues in the range of $2.7 billion to $3.0 billion.
Positive Outlook
- Strength of second quarter results
- Continued sales momentum
- Deliveries in the range of 8,800 to 9,500 homes
- Home sales revenues in the range of $2.7 billion to $3.0 billion
- Positive industry and company specific tailwinds will continue to fuel sales growth across our diverse, geographic footprint.
Challenges Ahead
- Near-term economic conditions
- National unemployment
- Potential, future waves of the Coronavirus
- Adverse changes in general economic conditions
- The potential impact of COVID-19 on the Company’s business, industry and broader economy
Revenue & Expenses
Visualization of income flow from segment revenue to net income