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Sep 30, 2024
Century Communities Q3 2024 Earnings Report
Reported strong third quarter with increased home sales revenues and deliveries.
Key Takeaways
Century Communities reported a strong third quarter in 2024, with home sales revenues reaching $1.1 billion, a 29% increase year-over-year. Deliveries of 2,834 homes marked a company record for the third quarter, up 25% year-over-year. Net new home contracts also saw growth, increasing by 19% to 2,563. The company's community count reached a record 305, reflecting a 21% increase year-over-year.
Net income was $83.0 million, or $2.59 per diluted share.
Total revenues reached $1.1 billion.
Deliveries totaled 2,834 homes, setting a new company record for the third quarter.
Net new home contracts increased to 2,563.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Century Communities increased its full year 2024 guidance for home deliveries to be in the range of 10,900 to 11,300 homes and home sales revenues to be in the range of $4.3 to $4.4 billion.
Positive Outlook
- Increased full year 2024 guidance for home deliveries.
- Increased full year 2024 guidance for home sales revenues.
- Strong growth in net new contracts.
- Solid demand for affordable new homes.
- Deepening share in existing markets.
Challenges Ahead
- Adverse changes in general economic conditions.
- Increased interest rates.
- Inflation.
- Employment levels.
- Global supply chain disruptions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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