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Sep 30, 2023
Century Communities Q3 2023 Earnings Report
Century Communities reported increased deliveries, gross margins and earnings.
Key Takeaways
Century Communities reported a net income of $83.2 million, or $2.58 per diluted share, and total revenues of $889.4 million. The company's deliveries totaled 2,264 homes, and net new home contracts were 2,149. They have increased their full year 2023 guidance for home deliveries to be in the range of 8,600 to 9,000 homes and their home sales revenues to be in the range of $3.2 billion to $3.4 billion.
Pre-tax income of $112.0 million
Net income of $83.2 million, or $2.58 per diluted share
Total revenues of $889.4 million
Community count increased to a record 252
Century Communities
Century Communities
Forward Guidance
Century Communities increased the midpoints of its full year 2023 guidance for home deliveries to be in the range of 8,600 to 9,000 homes and its home sales revenues to be in the range of $3.2 billion to $3.4 billion.
Positive Outlook
- Home deliveries to be in the range of 8,600 to 9,000 homes
- Home sales revenues to be in the range of $3.2 billion to $3.4 billion
- Continued strength in deliveries
- Benefitted from improved cycle times
- Intends to continue investing in its business and returning capital to shareholders
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
- Ability to identify and acquire desirable land