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Jun 30, 2024
Century Communities Q2 2024 Earnings Report
Century Communities reported increased results in the second quarter of 2024, with increased guidance for home sales revenues and deliveries.
Key Takeaways
Century Communities reported a strong second quarter in 2024, marked by a 63% year-over-year increase in net income to $83.7 million and a 24% increase in home sales revenues to $1.0 billion. The company also increased its full year 2024 guidance for home deliveries and home sales revenues.
Net income increased 63% year-over-year to $83.7 million, or $2.61 per diluted share.
Home sales revenues increased 24% year-over-year to $1.0 billion.
Deliveries increased 17% year-over-year to 2,617 homes.
Net new home contracts increased 20% year-over-year to 2,780.
Century Communities
Century Communities
Forward Guidance
Century Communities increased its full year 2024 guidance for home deliveries to be in the range of 10,700 to 11,300 homes and home sales revenues to be in the range of $4.2 to $4.4 billion.
Positive Outlook
- Increased full year 2024 guidance for home deliveries.
- Increased full year 2024 guidance for home sales revenues.
- Strong orders
- Increased deliveries
- Increased community count
Challenges Ahead
- Adverse changes in general economic conditions, including increased interest rates, inflation, and employment levels
- Potential impact of global supply chain disruptions
- Labor, land and raw material or other resource shortages and delays
- Municipal and utility delays on the Company’s business, industry and the broader economy
- The ability to identify and acquire desirable land