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Dec 31, 2020
Century Communities Q4 2020 Earnings Report
Century Communities reported record results for the fourth quarter of 2020, with significant increases in net income, home sales revenues, and EBITDA.
Key Takeaways
Century Communities reported a strong fourth quarter in 2020, achieving record net income, home sales revenues, and EBITDA. The company's performance was driven by strong housing market demand and operational efficiencies.
Net income increased by 72% to a record $91.8 million, or $2.72 per diluted share.
Home sales revenues increased by 22% to a company record of $946.8 million.
Net new home contracts increased by 45% to a fourth-quarter record of 2,566 homes.
EBITDA increased by 87% to a company record of $144.7 million.
Century Communities
Century Communities
Forward Guidance
Century Communities provided full year 2021 guidance, expecting continued growth in home deliveries and home sales revenues.
Positive Outlook
- Expecting deliveries in the range of 10,500 to 11,500 homes.
- Anticipating home sales revenues in the range of $3.3 billion to $3.8 billion.
- Company's recent performance demonstrates the resiliency of our business and proven ability to execute.
- Company remains encouraged by the strength and health of the housing market.
- Well positioned to generate even higher returns to shareholders.
Challenges Ahead
- Adverse changes in general economic conditions.
- Potential impact of COVID-19 on the Company’s business, industry and broader economy
- Ability to identify and acquire desirable land.
- Availability of financing.
- The effect of interest rate and tax changes.