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Sep 30, 2022
Century Communities Q3 2022 Earnings Report
Reported record earnings and increased revenue driven by home deliveries and price appreciation.
Key Takeaways
Century Communities reported a record third quarter with net income increasing by 27% to $144.5 million, or $4.44 per diluted share. Total revenues also increased by 19% to $1.1 billion. The company delivered 2,630 homes, a 13% increase year over year. Return on equity improved by 270 basis points to 33.2%.
Net income increased 27% to $144.5 million, or $4.44 per diluted share, both third quarter records.
Total revenues increased 19% to a third quarter record $1.1 billion.
Deliveries of 2,630 homes, a 13% increase and third quarter record.
Return on equity improved by 270 basis points to 33.2%.
Century Communities
Century Communities
Century Communities Revenue by Segment
Century Communities Revenue by Geographic Location
Revenue by Segment
Home 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
Given the continued industry-wide slowdown in current activity, we are reducing our full year home delivery guidance to 10,000 to 10,500 homes and home sales revenues to $4.2-4.4 billion. Given our decision to deliberately delay new community openings, we now expect our year end selling communities to be below our previous guidance of 240-250.
Positive Outlook
- Focusing on projects that meet stringent investment criteria
- Continuing to see demand for homes with near-term completions
- Matching starts with sales
- Adjusting product offering towards more affordably priced homes
- Taking steps to reduce costs
Challenges Ahead
- Industry-wide slowdown in current activity
- Reducing full year home delivery guidance to 10,000 to 10,500 homes
- Reducing home sales revenues guidance to $4.2-4.4 billion
- Deliberately delaying new community openings
- Expect year end selling communities to be below previous guidance of 240-250
Revenue & Expenses
Visualization of income flow from segment revenue to net income