Century Communities Reports Fourth Quarter and Full Year 2025 Results



- Fourth Quarter Residential Units Delivered of 3,435 -

- Fourth Quarter New Home Deliveries of 3,030 -

- Fourth Quarter Net New Home Contracts of 2,702 -

- Fourth Quarter Total Revenues of $1.2 Billion -

- Fourth Quarter Net Income of $36.0 Million, or $1.21 Per Diluted Share -

- Fourth Quarter Adjusted Net Income of $47.1 Million, or $1.59 Per Diluted Share -

- Book Value per Share of $89.21, a Company Record -



Greenwood Village, Colorado (January 28, 2026) – Century Communities, Inc. (NYSE: CCS), one of the nation’s largest homebuilders, today announced financial results for its fourth quarter and full year ended December 31, 2025.



Fourth Quarter 2025 Highlights



Full Year 2025 Highlights





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“We performed well in a challenging environment during the fourth quarter, with our net orders and new home deliveries exceeding our expectations and increasing by 13% and 22%, respectively, on a sequential basis,” said Dale Francescon, Executive Chairman. “While homebuyers remain cautious given the current level of economic uncertainty, we think this quarter’s strength in orders and deliveries demonstrates the pent up demand that continues to exist for affordable new homes.”

Rob Francescon, Chief Executive Officer and President, said, “We achieved our 23rd consecutive year of profitability and generated solid operational results in 2025, reducing our direct construction costs, cycle times, and fixed general and administrative expenses on a year-over-year basis. Based on this performance, we increased our book value per share to a Company record $89.21, repurchased 7% of our shares outstanding at the beginning of the year, grew our liquidity to $1.1 billion, and reduced our net homebuilding debt to net capital to 25.9% at year end, all while continuing to position Century for future growth.”

Fourth Quarter 2025 Results

Net income for the fourth quarter 2025 was $36.0 million, or $1.21 per diluted share. Adjusted net income was $47.1 million, or $1.59 per diluted share.

Total revenues were $1.2 billion, with fourth quarter home sales revenues totaling $1.1 billion. Total residential deliveries were 3,435 including 3,030 new homes, and the average sales price of new home deliveries for the fourth quarter 2025 was $366,700.

Net new home contracts in the fourth quarter 2025 were 2,702 and at the end of the fourth quarter 2025, the Company had 789 homes in backlog, representing $283.7 million of backlog dollar value.

Adjusted homebuilding gross margin percentage, excluding interest, inventory impairment and purchase price accounting, was 18.3% in the fourth quarter of 2025. Homebuilding gross margin percentage excluding inventory impairment in the fourth quarter 2025 was 16.4%, and homebuilding gross margin was 15.4%. Selling, general, and administrative expenses as a percent of home sales revenues was 12.2% in the quarter. Adjusted EBITDA and EBITDA for the fourth quarter 2025 were $97.4 million and $75.9 million, respectively.

Financial services revenues and pre-tax income were $24.5 million and $7.6 million, respectively, in the fourth quarter 2025.

Full Year 2025 Results

Net income for the full year 2025 was $147.6 million, or $4.86 per diluted share. Adjusted net income was $181.7 million, or $5.99 per diluted share.

Total revenues were $4.1 billion, with full year 2025 home sales revenues totaling $3.9 billion. Total residential deliveries were 10,792 including 10,387 new homes, and the average sales price of new home deliveries for the full year 2025 was $378,000.

Net new home contracts in the full year 2025 were 10,326.

Adjusted homebuilding gross margin percentage, excluding interest, inventory impairment and purchase price accounting, was 19.9% in 2025. Homebuilding gross margin percentage excluding inventory impairment was 18.1%, and homebuilding gross margin was 17.6% in 2025. Selling, general, and administrative expenses as a percent of home sales revenues was 12.9% in 2025. Adjusted EBITDA and EBITDA for the full year 2025 were $349.7 million and $284.6 million, respectively.

Financial services revenues and pre-tax income were $86.2 million and $19.2 million, respectively, for the full year 2025.

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Balance Sheet and Liquidity

The Company ended the fourth quarter 2025 with a strong financial position, including $2.6 billion of stockholders’ equity and $1.1 billion of total liquidity, including $158.0 million of cash.

Our book value per share was a Company record $89.21 as of December 31, 2025.

During the fourth quarter, consistent with our disciplined capital allocation approach to enhance the long-term value of the Company and return capital to our stockholders, we maintained our quarterly cash dividend of $0.29 per share and repurchased 333,881 shares of common stock for $20.0 million. For the full year 2025, the Company paid cash dividends totaling $1.16 per share and repurchased 2,267,723 shares of its common stock, representing over 7% of shares outstanding at the beginning of the year, returning a record $178 million to our stockholders.

As of December 31, 2025, homebuilding debt to capital equaled 29.1% and net homebuilding debt to net capital equaled 25.9%.

Full Year 2026 Outlook

Scott Dixon, Chief Financial Officer of the Company, commented, “Assuming no significant changes to the current economic environment, we currently expect our full year 2026 new home deliveries to be in the range of 10,000 to 11,000 homes and our homes sales revenues to be in the range of $3.6 billion to $4.1 billion. Our current guidance reflects an increase in our average open communities in the mid-single digit percentage range and similar per community absorption levels as the back half of 2025.”

Webcast and Conference Call

The Company will host a webcast and conference call on Wednesday, January 28, 2026, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, to review the Company’s fourth quarter and full year 2025 results, provide commentary, and conduct a question-and-answer session. To participate in the call, please dial 800-549-8228 (domestic) or 646-564-2877 (international) and enter the conference ID 22523. The live webcast will be available at www.centurycommunities.com in the Investors section. A replay of the conference call will be available through February 4, 2026, by dialing 888-660-6264 (domestic) or 646-517-3975 (international) and entering conference ID 22523. A replay of the webcast will be available on the Company’s website for at least one year.

About Century Communities

Century Communities, Inc. (NYSE: CCS) is one of the nation’s largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America's Most Trustworthy Companies for three consecutive years, and Century Communities has also been designated as one of U.S. News & World Report’s Best Companies to Work For (2025-2026). Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.

Non-GAAP Financial Measures

In addition to the Company’s operating results presented in accordance with United States generally accepted accounting principles (GAAP), this press release includes the following non-GAAP financial measures: adjusted net income, adjusted diluted earnings per share, adjusted homebuilding gross margin, EBITDA, adjusted EBITDA, and

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ratio of net homebuilding debt to net capital. These non-GAAP financial measures should not be used as a substitute for the Company’s operating results presented in accordance with GAAP, and an analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP. Please refer to the reconciliation of each of the above referenced non-GAAP financial measures following the historical financial information presented in this press release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “continue,” “will,” “may,” “should,” “potential,” “guidance” and “outlook” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include the Company’s operating and financial guidance for 2026, including without limitation anticipated home deliveries and home sales revenues. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. The following important factors could cause actual results to differ materially from those expressed in the forward-looking statement: adverse changes in general economic conditions, including increased interest rates, inflation, and employment levels; lower consumer confidence; the potential impact of tariffs and increased costs, immigration reform, global supply chain disruptions, labor, land and raw material or other resource shortages and delays, and municipal and utility delays on the Company’s business, industry and the broader economy; the ability to identify and acquire desirable land; availability and cost of financing; the effect of tax changes; reliance on contractors and key personnel; availability and pricing for land, labor and raw materials and other resources; home incentive levels; future impairment and restructuring charges; the ability to pay dividends in the future; and the other factors included in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law.









































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Century Communities, Inc.

Consolidated Statements of Operations

(Unaudited)

(in thousands, except share and per share amounts)





 































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Century Communities, Inc.

Consolidated Balance Sheets

(Unaudited)

(in thousands, except share amounts)











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Century Communities, Inc.

Homebuilding Operational Data

(Unaudited)



Net New Home Contracts


		Three Months Ended December 31,										Year Ended December 31,
		2025			2024			% Change				2025			2024			% Change
West		327			309			5.8	%			1,379			1,490			(7.4)	%
Mountain		473			379			24.8	%			1,689			2,005			(15.8)	%
Texas		509			499			2.0	%			1,945			1,987			(2.1)	%
Southeast		451			387			16.5	%			1,610			1,619			(0.6)	%
Century Complete		942			893			5.5	%			3,703			3,575			3.6	%
Total		2,702			2,467			9.5	%			10,326			10,676			(3.3)	%



New Home Deliveries 



(dollars in thousands)


		Three Months Ended December 31,
		2025					2024					% Change
		Homes		Average Sales Price			Homes		Average Sales Price			Homes			Average Sales Price
West		412		$	565.3		465		$	612.3		(11.4)	%		(7.7)	%
Mountain		504			485.8		525			557.9		(4.0)	%		(12.9)	%
Texas		568			284.0		638			298.2		(11.0)	%		(4.8)	%
Southeast		490			408.2		499			411.6		(1.8)	%		(0.8)	%
Century Complete		1,056			257.6		1,071			255.4		(1.4)	%		0.9	%
Total / Weighted Average		3,030		$	366.7		3,198		$	389.8		(5.3)	%		(5.9)	%

		Year Ended December 31,
		2025					2024					% Change
		Homes		Average Sales Price			Homes		Average Sales Price			Homes			Average Sales Price
West		1,419		$	588.1		1,437		$	627.2		(1.3)	%		(6.2)	%
Mountain		1,730			508.0		2,019			533.4		(14.3)	%		(4.8)	%
Texas		1,986			292.3		2,077			301.8		(4.4)	%		(3.1)	%
Southeast		1,617			421.7		1,654			423.8		(2.2)	%		(0.5)	%
Century Complete		3,635			261.6		3,820			260.9		(4.8)	%		0.3	%
Total / Weighted Average		10,387		$	378.0		11,007		$	390.9		(5.6)	%		(3.3)	%



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Century Communities, Inc.

Homebuilding Operational Data

(Unaudited)





Selling Communities





		As of December 31,					Increase/Decrease
		2025		2024			Amount		% Change
West		36		30			6		20.0	%
Mountain		51		49			2		4.1	%
Texas		71		78			(7)		(9.0)	%
Southeast		37		42			(5)		(11.9)	%
Century Complete		110		123			(13)		(10.6)	%
Total		305		322			(17)		(5.3)	%



Backlog



(dollars in thousands)



		As of December 31,
		2025								2024								% Change
		Homes		Dollar Value			Average Sales Price			Homes		Dollar Value			Average Sales Price			Homes			Dollar Value			Average Sales Price
West		119		$	69,226		$	581.7		159		$	100,306		$	630.9		(25.2)	%		(31.0)	%		(7.8)	%
Mountain		108			56,086			519.3		149			83,915			563.2		(27.5)	%		(33.2)	%		(7.8)	%
Texas		136			38,964			286.5		177			54,314			306.9		(23.2)	%		(28.3)	%		(6.6)	%
Southeast		100			42,542			425.4		107			49,778			465.2		(6.5)	%		(14.5)	%		(8.6)	%
Century Complete		326			76,907			235.9		258			62,849			243.6		26.4	%		22.4	%		(3.2)	%
Total / Weighted Average		789		$	283,725		$	359.6		850		$	351,162		$	413.1		(7.2)	%		(19.2)	%		(13.0)	%



Lot Inventory





		As of December 31,
		2025									2024									% Change

		Owned			Controlled			Total			Owned			Controlled			Total			Owned			Controlled			Total

West		3,432			2,354			5,786			4,211			4,286			8,497			(18.5)	%		(45.1)	%		(31.9)	%
Mountain		7,972			2,169			10,141			9,037			4,052			13,089			(11.8)	%		(46.5)	%		(22.5)	%
Texas		14,298			3,348			17,646			12,632			8,935			21,567			13.2	%		(62.5)	%		(18.2)	%
Southeast		5,240			6,293			11,533			5,173			12,270			17,443			1.3	%		(48.7)	%		(33.9)	%
Century Complete		3,858			11,952			15,810			4,703			15,333			20,036			(18.0)	%		(22.1)	%		(21.1)	%
Total		34,800			26,116			60,916			35,756			44,876			80,632			(2.7)	%		(41.8)	%		(24.5)	%
% of Total		57.1%			42.9%			100.0%			44.3%			55.7%			100.0%













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Century Communities, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)





Adjusted net income and adjusted diluted earnings per share (“Adjusted EPS”) are non-GAAP financial measures that the Company believes are useful to management, investors and other users of its financial information in evaluating its operating results and understanding its operating trends without the effect of certain non-recurring items. The Company believes excluding certain non-recurring items provides more comparable assessment of its financial results from period to period. The Company defines adjusted net income as consolidated net income before (i) income tax expense; (ii) inventory impairment; (iii) abandonment of lot option contracts; (iv) restructuring costs; (v) loss on debt extinguishment; (vi) impairment on other investment; and (vii) purchase price accounting for acquired work in process inventory; in each case, as applicable during a period, less adjusted income tax expense, calculated using the Company’s estimated annual effective tax rate after discrete items for the applicable period. Adjusted EPS is calculated by dividing adjusted net income by weighted average common shares – diluted.



Adjusted Net Income and Adjusted Diluted Earnings Per Share

(in thousands, except share and per share amounts)






		Three Months Ended December 31,						Year Ended December 31,
		2025			2024			2025			2024
Numerator
Net income		$	35,956		$	102,741		$	147,597		$	333,816
Denominator
Weighted average common shares outstanding - basic			29,186,481			31,252,028			29,994,465			31,510,282
Dilutive effect of stock-based compensation awards			429,312			839,443			365,523			600,553
Weighted average common shares outstanding - diluted			29,615,793			32,091,471			30,359,988			32,110,835
Earnings per share:
Basic		$	1.23		$	3.29		$	4.92		$	10.59
Diluted		$	1.21		$	3.20		$	4.86		$	10.40

Adjusted earnings per share
Numerator
Net income		$	35,956		$	102,741		$	147,597		$	333,816
Income tax expense			11,017			32,455			46,815			106,244
Income before income tax expense			46,973			135,196			194,412			440,060
Inventory impairment			10,865			6,835			21,816			8,778
Abandonment of lot option contracts (1)			1,851			2,095			11,158			6,036
Restructuring costs			740			—			2,245			—
Loss on debt extinguishment			—			—			1,361			—
Impairment on other investment			—			2,180			—			9,902
Purchase price accounting for acquired work in process inventory			1,612			3,444			8,375			9,443
Adjusted income before income tax expense			62,041			149,750			239,367			474,219
Adjusted income tax expense(2)			(14,940)			(36,154)			(57,640)			(114,491)
Adjusted net income		$	47,101		$	113,596		$	181,727		$	359,728

Denominator - Diluted			29,615,793			32,091,471			30,359,988			32,110,835

Adjusted diluted earnings per share		$	1.59		$	3.54		$	5.99		$	11.20





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Century Communities, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)



Adjusted homebuilding gross margin excluding inventory impairment (if applicable), interest in cost of home sales revenues, and purchase price accounting for acquired work in process inventory (if applicable), is not a  measurement of financial performance under GAAP; however, the Company’s management believes that this information is meaningful as it isolates the impact that inventory impairment,  indebtedness, and acquisitions have on homebuilding gross margin and permits the Company’s stockholders to make better comparisons with the Company’s competitors, who adjust gross margins in a similar fashion.  This non-GAAP financial measure should not be used as a substitute for the Company’s GAAP operating results.  An analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP.



Adjusted Homebuilding Gross Margin

(in thousands)





		Three Months Ended December 31,
		2025			%			2024			%
Home sales revenues		$	1,111,045		100.0	%		$	1,246,697		100.0	%
Cost of home sales revenues (1)			(939,495)		(84.6)	%			(989,758)		(79.4)	%
Homebuilding gross margin			171,550		15.4	%			256,939		20.6	%
Add: Inventory impairment			10,865		1.0	%			6,835		0.5	%
Adjusted homebuilding gross margin excluding inventory impairment			182,415		16.4	%			263,774		21.2	%
Add: Interest in cost of home sales revenues			18,744		1.7	%			18,169		1.5	%
Add: Purchase price accounting for acquired work in process inventory			1,612		0.1	%			3,444		0.3	%
Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory		$	202,771		18.3	%		$	285,387		22.9	%




		Year Ended December 31,
		2025			%			2024			%
Home sales revenues		$	3,926,411		100.0	%		$	4,302,638		100.0	%
Cost of home sales revenues (1)			(3,235,679)		(82.4)	%			(3,377,909)		(78.5)	%
Homebuilding gross margin			690,732		17.6	%			924,729		21.5	%
Add: Inventory impairment			21,816		0.6	%			8,778		0.2	%
Adjusted homebuilding gross margin excluding inventory impairment			712,548		18.1	%			933,507		21.7	%
Add: Interest in cost of home sales revenues			60,738		1.5	%			60,286		1.4	%
Add: Purchase price accounting for acquired work in process inventory			8,375		0.2	%			9,443		0.2	%
Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory		$	781,661		19.9	%		$	1,003,236		23.3	%





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Century Communities, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)



EBITDA and Adjusted EBITDA



EBITDA and adjusted EBITDA are non-GAAP financial measures the Company uses as supplemental measures in evaluating operating performance. The Company defines EBITDA as net income before (i) income tax expense, (ii) interest in cost of home sales revenues, (iii) other interest expense (income), and (iv) depreciation and amortization expense. The Company defines adjusted EBITDA as EBITDA before inventory impairment, abandonment of lot option contracts,  stock-based compensation expense, restructuring costs, loss on debt extinguishment,  impairment on other investment, and purchase price accounting for acquired work in process inventory, in each case as applicable during a period. The Company believes EBITDA and adjusted EBITDA provide an indicator of general economic performance that is not affected by fluctuations in interest rates or effective tax rates, levels of depreciation or amortization, and items considered to be non-recurring. Accordingly, the Company’s management believes that these measurements are useful for comparing general operating performance from period to period. EBITDA and adjusted EBITDA should be considered in addition to, and not as a substitute for, consolidated net income in accordance with GAAP as a measure of performance. The presentation of adjusted EBITDA should not be construed as an indication that the Company’s future results will be unaffected by unusual or non-recurring items. Each of EBITDA and adjusted EBITDA is limited as an analytical tool, and should not be considered in isolation or as a substitute for analysis of the Company’s results of operations as reported under GAAP.



(in thousands)















NM – Not Meaningful

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Century Communities, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)



Ratio of Net Homebuilding Debt to Net Capital

The following table presents the Company’s ratio of net homebuilding debt to net capital, which is a non-GAAP financial measure.  The Company calculates this by dividing net homebuilding debt (homebuilding debt less cash and cash equivalents, and cash held in escrow) by net capital (net homebuilding debt plus total stockholders’ equity). Homebuilding debt is total debt minus outstanding borrowings under construction loan agreement and mortgage repurchase facilities. The most directly comparable GAAP measure is the ratio of homebuilding debt to capital. The Company believes the ratio of net homebuilding debt to net capital is a relevant and useful financial measure to investors in understanding the leverage employed in its operations and as an indicator of the Company’s ability to obtain external financing. 

(in thousands)









Contact Information:

Tyler Langton, Senior Vice President of Investor Relations and Finance

303-268-8345

InvestorRelations@CenturyCommunities.com



Category: 
Earnings





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