Century Communities Reports First Quarter 2026 Results

Rhea-AI Summary

Century Communities (NYSE: CCS) reported Q1 2026 results: net income $24.4M ($0.84 diluted), adjusted net income $25.6M ($0.88), and total revenues $789.7M. Deliveries were 2,013 homes, net new contracts 2,379, and ending community count 316. The company raised its quarterly dividend 10% to $0.32 and repurchased 617,087 shares for $40.0M.

Adjusted homebuilding gross margin was 19.7% (homebuilding gross margin 17.8%), backlog dollar value was $438.5M, book value per share was $88.75, and liquidity was $886.1M. Full‑year 2026 delivery guidance was lowered to 9,500–10,500 homes and home sales revenue guidance to $3.5B–$3.8B.

Positive

• Adjusted homebuilding gross margin of 19.7%
• Repurchased 617,087 shares for $40.0M
• Increased quarterly dividend by 10% to $0.32 per share
• Ending liquidity of $886.1M and book value per share of $88.75

Negative

• Reduced full‑year 2026 delivery guidance to 9,500–10,500 homes
• Lowered home sales revenue guidance to $3.5B–$3.8B
• Order activity weakened meaningfully in March, pressuring near‑term sales
• Homebuilding gross margin of 17.8% (GAAP) below adjusted margin

Key Figures

Total revenues: $789.7 million Net income: $24.4 million Adjusted net income: $25.6 million +5 more

8 metrics

Total revenues $789.7 million Q1 2026 total revenues

Net income $24.4 million Q1 2026 net income

Adjusted net income $25.6 million Q1 2026 adjusted net income

Homebuilding gross margin 17.8% Q1 2026 homebuilding gross margin

Adj. homebuilding gross margin 19.7% Q1 2026 adjusted homebuilding gross margin, up 140 bps sequentially

Deliveries 2,013 homes Q1 2026 home deliveries

Backlog value $438.5 million 1,155 homes in backlog at Q1 2026-end

2026 revenue guidance $3.5–$3.8 billion Reduced full-year 2026 home sales revenue outlook

Market Reality Check

Price: $63.64 Vol: Volume 69,505 is light at...

low vol

$63.64 Last Close

Volume Volume 69,505 is light at 0.33x the 20-day average of 210,149 shares ahead of the earnings release. low

Technical Shares at $63.64 are trading slightly above the 200-day MA of $62.58 and about 16% below the $76 52-week high.

Peers on Argus

CCS was roughly flat at +0.14% while key peers VTMX, HHH, FOR, SDHC, and FPH all...

CCS was roughly flat at +0.14% while key peers VTMX, HHH, FOR, SDHC, and FPH all showed modest declines between about -0.07% and -0.98%, pointing to stock-specific dynamics rather than a sector-wide move ahead of these results.

Previous Earnings Reports

5 past events · Latest: Jan 28 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 28	Q4 & FY 2025 earnings	Positive	-0.0%	Reported Q4 revenue $1.2B and FY 2025 revenue $4.1B with solid profits.
Oct 22	Q3 2025 earnings	Positive	+7.2%	Delivered 2,486 homes and $980.3M revenue plus positive net income and margins.
Jul 23	Q2 2025 earnings	Positive	-5.8%	Posted $1.0B revenue and strong equity/liquidity while revising 2025 guidance lower.
Apr 23	Q1 2025 earnings	Positive	-6.3%	Reported $903.2M revenue and higher guidance uncertainty amid macro headwinds.
Jan 29	Q4 & FY 2024 earnings	Positive	+4.8%	Announced record 2024 deliveries, $4.4B revenue, and strong community growth.

Pattern Detected

Recent earnings releases have generally been positive on fundamentals but produced mixed share reactions, with 3 divergences and 2 alignments and an average move of -0.02% in the past five earnings events.

Recent Company History

Over the past five earnings cycles, Century Communities has reported multi-billion dollar annual revenues, consistent profitability, and a strong capital base around $2.6B of stockholders’ equity. Results have included record community counts, substantial buybacks, and regular dividends. Guidance has been adjusted several times as market conditions evolved. Today’s Q1 2026 earnings and guidance update continue that pattern of balancing growth investments, capital returns, and caution around demand volatility.

Historical Comparison

-0.0% avg move · Over the last 5 earnings reports, CCS averaged a near-flat move of -0.02%, with mixed reactions desp...

earnings

-0.0%

Average Historical Move earnings

Over the last 5 earnings reports, CCS averaged a near-flat move of -0.02%, with mixed reactions despite generally solid fundamentals and capital returns.

Earnings updates show CCS sustaining multi-billion dollar annual revenues, stable equity around $2.6B, and growing communities while repeatedly recalibrating delivery and revenue guidance in response to shifting housing demand and macro conditions.

Market Pulse Summary

This announcement details Q1 2026 revenue of $789.7M, net income of $24.4M, and adjusted homebuildin...

Analysis

This announcement details Q1 2026 revenue of $789.7M, net income of $24.4M, and adjusted homebuilding gross margin of 19.7%, alongside backlog of 1,155 homes worth $438.5M. Management highlighted strong liquidity of $886.1M, buybacks, and a higher dividend, but also reduced 2026 guidance to 9,500–10,500 deliveries and $3.5–$3.8B in home sales revenues. Investors may watch future orders, margins, and macro-sensitive guidance updates closely.

Key Terms

adjusted net income, homebuilding gross margin, adjusted homebuilding gross margin, adjusted EBITDA, +4 more

8 terms

adjusted net income financial

"Adjusted net income of $25.6 Million, or $0.88 Per Diluted Share"

Adjusted net income is a company's reported profit after removing unusual, one-time, or non-operational items so the number reflects the business’s regular earning power. Investors use it like a cleaned-up scorecard — similar to judging a player’s season performance without a few fluke games — to compare companies or assess trends without being misled by rare gains or losses that won’t affect future cash flow.

homebuilding gross margin financial

"Homebuilding gross margin of 17.8% Adjusted homebuilding gross margin of 19.7%"

Homebuilding gross margin is the percentage of sales a builder keeps after covering the direct costs to build houses—materials, labor and subcontractors—but before paying for overhead like marketing, administration or interest. Think of it as the profit made on each house before the company’s other bills; higher margins mean the builder is more efficient or has stronger pricing power, which helps investors judge profitability and resilience to rising costs.

adjusted homebuilding gross margin financial

"Homebuilding gross margin of 17.8% Adjusted homebuilding gross margin of 19.7%"

A measure of the profit a homebuilder earns on its core house-construction operations after removing or normalizing items that can distort the picture, such as one-time charges, unusual write-downs or accounting treatments for land and lots. Think of it as the builder’s “clean” margin on each house, like a baker calculating cake profit after excluding a one-off oven repair. Investors use it to see true operating performance, compare builders, and judge pricing power and cost control over time.

adjusted EBITDA financial

"Adjusted EBITDA and EBITDA for the first quarter 2026 were $55.4 million and $52.0 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

ebitda financial

"Adjusted EBITDA and EBITDA for the first quarter 2026 were $55.4 million and $52.0 million"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

backlog financial

"the Company had 1,155 homes in backlog, representing $438.5 million of backlog dollar value"

A backlog is the amount of work or orders that a company has received but hasn't completed yet. It’s like a restaurant with many dishes to serve; the backlog shows how many orders are still waiting to be finished. It matters because a large backlog can indicate strong demand or potential delays in delivering products or services.

selling, general, and administrative expenses financial

"Selling, general, and administrative expenses as a percent of home sales revenues was 15.8%"

Selling, general, and administrative expenses (SG&A) are the routine costs a business spends to run day-to-day operations outside of making its product — things like sales staff pay, office rent, marketing, and executive salaries. For investors, SG&A shows how much of revenue is eaten by overhead; like household bills that reduce how much income you can save, rising SG&A can squeeze profit even if sales are steady.

basis points financial

"gross margin of 19.7% increased by 140 basis points on a sequential basis"

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

AI-generated analysis. Not financial advice.

- Deliveries of 2,013 Homes Generating $789.7 Million in Total Revenues -

- Net New Home Contracts of 2,379 -

- Ending Community Count Increased Sequentially to 316 -

- Net Income of $24.4 Million, or $0.84 Per Diluted Share -

- Adjusted Net Income of $25.6 Million, or $0.88 Per Diluted Share -

- Increased Quarterly Cash Dividend 10% to $0.32 Per Share -

GREENWOOD VILLAGE, Colo., April 22, 2026 /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS), one of the nation's largest homebuilders, today announced financial results for its first quarter ended March 31, 2026.

First Quarter 2026 Highlights

• Net income of $24.4 million, or $0.84 per diluted share
• Adjusted net income of $25.6 million, or $0.88 per diluted share
• Total revenues of $789.7 million
• Community count of 316
• Deliveries of 2,013 homes
• Net new home contracts of 2,379
• Homebuilding gross margin of 17.8%
• Adjusted homebuilding gross margin of 19.7%
• Repurchased 617,087 shares of common stock for $40.0 million

"We performed well in the first quarter given continued market pressures which intensified even further beginning in early March," said Dale Francescon, Executive Chairman. "While demand at the start of the quarter was roughly in line with year-ago levels, higher interest rates, gas prices, and increased weakness in consumer sentiment weighed on order activity most meaningfully in March, which typically represents the highest sales month of the quarter. Despite these headwinds, our traffic and net sales increased sequentially throughout the quarter, and our first quarter cancellation rate was below the levels we experienced throughout most of 2025, demonstrating the commitment of buyers once they have made the decision to purchase a home."

Rob Francescon, Chief Executive Officer and President, said, "Our adjusted homebuilding gross margin of 19.7% increased by 140 basis points on a sequential basis, benefitting from lower incentives and direct costs, and we decreased our finished specs at the end of the first quarter by 16% sequentially and 31% versus the prior-year quarter. Our balance sheet remains strong with $2.6 billion of stockholders' equity and $886 million of liquidity, and we repurchased 617,087 shares of our common stock for $40.0 million and increased our quarterly cash dividend by 10% to $0.32 per share while continuing to position Century for future growth."

First Quarter 2026 Results

Net income for the first quarter 2026 was $24.4 million, or $0.84 per diluted share. Adjusted net income was $25.6 million, or $0.88 per diluted share.

Total revenues were $789.7 million, with first quarter home sales revenues totaling $734.1 million. Deliveries totaled 2,013 homes. The average sales price of home deliveries for the first quarter 2026 was $364,700.

Net new home contracts in the first quarter 2026 were 2,379, and at the end of the first quarter 2026, the Company had 1,155 homes in backlog, representing $438.5 million of backlog dollar value.

Adjusted homebuilding gross margin percentage, excluding interest, inventory impairment and purchase price accounting, was 19.7% in the first quarter of 2026, and homebuilding gross margin was 17.8%. Selling, general, and administrative expenses as a percent of home sales revenues was 15.8% in the quarter. Adjusted EBITDA and EBITDA for the first quarter 2026 were $55.4 million and $52.0 million, respectively.

Financial services revenues and pre-tax income were $22.4 million and $7.6 million, respectively, in the first quarter 2026.

Balance Sheet and Liquidity

The Company ended the first quarter 2026 with a strong financial position, including $2.6 billion of stockholders' equity and $886.1 million of total liquidity, including $89.8 million of cash.

Book value per share was $88.75 as of March 31, 2026.

During the first quarter, consistent with our disciplined capital allocation approach to enhance the long-term value of the Company and return capital to our shareholders, we increased our quarterly cash dividend by 10% to $0.32 per share and repurchased 617,087 shares of common stock for $40.0 million.

As of March 31, 2026, homebuilding debt to capital equaled 32.2% and net homebuilding debt to net capital equaled 30.5%.

Full Year 2026 Outlook

Scott Dixon, Chief Financial Officer of the Company, commented, "Given the impact of the conflict in the Middle East as well as higher gas prices and interest rates on our order activity, we are reducing our full year 2026 home delivery guidance to be in the range of 9,500 to 10,500 homes and our home sales revenues to be in the range of $3.5 billion to $3.8 billion."

Webcast and Conference Call

The Company will host a webcast and conference call on Wednesday, April 22, 2026, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, to review the Company's first quarter 2026 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 56727. The live webcast will be available at www.centurycommunities.com in the Investors section. A replay of the conference call will be available through April 29, 2026, by dialing 888-660-6264 (domestic) or 646-517-3975 (international) and entering conference ID 56727. 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 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 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 statements: changes in general economic conditions, including interest rates, inflation, and employment levels; consumer confidence and affordability concerns; the impact of geopolitical conflicts including in the Middle East, tariffs and increased costs, immigration reform and enforcement, 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 availability and cost of financing; home incentive levels; the ability to identify and acquire desirable land and dispose of land when appropriate; availability and pricing for land, labor and raw materials and other resources; reliance on contractors and key personnel; the effect of competition; risks associated with the Company's mortgage lending and multi-family rental businesses; future impairment and restructuring charges; the effect of tax changes; and the other factors included in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Report 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.

Century Communities, Inc. Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share amounts)
		Three Months Ended March 31,
		2026			2025
Revenues
Homebuilding Revenues
Home sales revenues		$	734,106		$	883,736
Land sales and other revenues			33,171			962
Total homebuilding revenues			767,277			884,698
Financial services revenues			22,396			18,534
Total revenues			789,673			903,232
Homebuilding Cost of Revenues
Cost of home sales revenues			(603,291)			(707,915)
Cost of land sales and other revenues			(22,571)			(827)
Total homebuilding cost of revenues			(625,862)			(708,742)
Financial services costs			(14,751)			(16,174)
Selling, general, and administrative expense			(116,082)			(120,760)
Other income (expense), net			353			(5,038)
Income before income tax expense			33,331			52,518
Income tax expense			(8,922)			(13,134)
Net income		$	24,409		$	39,384
Earnings per share:
Basic		$	0.84		$	1.28
Diluted		$	0.84		$	1.26
Weighted average common shares outstanding:
Basic			29,189,596			30,801,046
Diluted			29,217,503			31,145,867

 

Century Communities, Inc. Consolidated Balance Sheets (Unaudited) (in thousands, except share amounts)
		March 31,			December 31,
		2026			2025
Assets		(unaudited)			(audited)
Cash and cash equivalents		$	78,182		$	109,443
Cash held in escrow			11,621			48,571
Accounts receivable			55,728			57,242
Inventories			3,525,742			3,361,158
Mortgage loans held for sale			213,947			299,145
Prepaid expenses and other assets			475,283			435,683
Property and equipment, net			70,822			69,368
Deferred tax assets, net			37,351			38,176
Goodwill			41,109			41,109
Total assets		$	4,509,785		$	4,459,895
Liabilities and stockholders' equity
Liabilities:
Accounts payable		$	152,195		$	114,416
Accrued expenses and other liabilities			276,770			310,602
Notes payable			1,112,751			1,102,376
Revolving line of credit			203,700			51,500
Mortgage repurchase facilities			211,170			289,269
Total liabilities			1,956,586			1,868,163
Stockholders' equity:
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none outstanding			—			—
Common stock, $0.01 par value, 100,000,000 shares authorized, 28,769,233 and 29,050,515 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively			288			291
Additional paid-in capital			332,425			385,962
Retained earnings			2,220,486			2,205,479
Total stockholders' equity			2,553,199			2,591,732
Total liabilities and stockholders' equity		$	4,509,785		$	4,459,895

 

Century Communities, Inc. Homebuilding Operational Data (Unaudited)
Net New Home Contracts
		Three Months Ended March 31,
		2026			2025			% Change
West		336			392			(14.3)	%
Mountain		426			462			(7.8)	%
Texas		473			499			(5.2)	%
Southeast		359			387			(7.2)	%
Century Complete		785			952			(17.5)	%
Total		2,379			2,692			(11.6)	%

 

New Home Deliveries (dollars in thousands)
		Three Months Ended March 31,
		2026					2025					% Change
		Homes		Average Sales Price			Homes		Average Sales Price			Homes			Average Sales Price
West		277		$	568.6		303		$	599.5		(8.6)	%		(5.2)	%
Mountain		344			465.6		429			524.1		(19.8)	%		(11.2)	%
Texas		371			284.7		457			298.9		(18.8)	%		(4.8)	%
Southeast		315			393.9		303			443.5		4.0	%		(11.2)	%
Century Complete		706			264.5		792			260.4		(10.9)	%		1.6	%
Total / Weighted Average		2,013		$	364.7		2,284		$	386.9		(11.9)	%		(5.7)	%

 

Century Communities, Inc. Homebuilding Operational Data (Unaudited)
Selling Communities
		As of March 31,					Increase/Decrease
		2026		2025			Amount		% Change
West		40		34			6		17.6	%
Mountain		55		48			7		14.6	%
Texas		82		78			4		5.1	%
Southeast		31		42			(11)		(26.2)	%
Century Complete		108		116			(8)		(6.9)	%
Total		316		318			(2)		(0.6)	%

 

Backlog (dollars in thousands)
		As of March 31,
		2026								2025								% Change
		Homes		Dollar Value			Average Sales Price			Homes		Dollar Value			Average Sales Price			Homes			Dollar Value			Average Sales Price
West		178		$	105,463		$	592.5		248		$	158,029		$	637.2		(28.2)	%		(33.3)	%		(7.0)	%
Mountain		190			103,890			546.8		182			102,309			562.1		4.4	%		1.5	%		(2.7)	%
Texas		238			69,227			290.9		219			65,973			301.2		8.7	%		4.9	%		(3.4)	%
Southeast		144			58,671			407.4		191			87,755			459.5		(24.6)	%		(33.1)	%		(11.3)	%
Century Complete		405			101,208			249.9		418			106,984			255.9		(3.1)	%		(5.4)	%		(2.4)	%
Total / Weighted Average		1,155		$	438,459		$	379.6		1,258		$	521,050		$	414.2		(8.2)	%		(15.9)	%		(8.4)	%

 

Lot Inventory
		As of March 31,
		2026									2025									% Change
		Owned			Controlled			Total			Owned			Controlled			Total			Owned			Controlled			Total
West		3,517			2,524			6,041			3,946			4,258			8,204			(10.9)	%		(40.7)	%		(26.4)	%
Mountain		7,813			2,018			9,831			9,180			3,168			12,348			(14.9)	%		(36.3)	%		(20.4)	%
Texas		14,148			2,943			17,091			12,942			9,539			22,481			9.3	%		(69.1)	%		(24.0)	%
Southeast		4,850			5,526			10,376			5,174			11,435			16,609			(6.3)	%		(51.7)	%		(37.5)	%
Century Complete		4,025			11,173			15,198			4,655			14,717			19,372			(13.5)	%		(24.1)	%		(21.5)	%
Total		34,353			24,184			58,537			35,897			43,117			79,014			(4.3)	%		(43.9)	%		(25.9)	%
% of Total		58.7 %			41.3 %			100.0 %			45.4 %			54.6 %			100.0 %

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 March 31,
		2026			2025
Numerator
Net income		$	24,409		$	39,384
Denominator
Weighted average common shares outstanding - basic			29,189,596			30,801,046
Dilutive effect of stock-based compensation awards			27,907			344,821
Weighted average common shares outstanding - diluted			29,217,503			31,145,867
Earnings per share:
Basic		$	0.84		$	1.28
Diluted		$	0.84		$	1.26
Adjusted earnings per share
Numerator
Net income		$	24,409		$	39,384
Income tax expense			8,922			13,134
Income before income tax expense			33,331			52,518
Inventory impairment			—			411
Abandonment of lot option contracts (1)			954			1,506
Restructuring costs			—			1,505
Purchase price accounting for acquired work in process inventory			688			1,892
Adjusted income before income tax expense			34,973			57,832
Adjusted income tax expense (2)			(9,362)			(14,463)
Adjusted net income		$	25,611		$	43,369
Denominator - Diluted			29,217,503			31,145,867
Adjusted diluted earnings per share		$	0.88		$	1.39

(1)	Beginning in the third quarter of 2025, the Company added "Abandonment of lot option contracts" as an adjustment in its non-GAAP adjusted net income calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.
(2)	The tax rates used in calculating adjusted net income for the three months ended March 31, 2026 and 2025 were 26.8% and 25.0%, respectively, which reflect our GAAP tax rates for the applicable periods.

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 March 31,
		2026			%			2025			%
Home sales revenues		$	734,106		100.0	%		$	883,736		100.0	%
Cost of home sales revenues (1)			(603,291)		(82.2)	%			(707,915)		(80.1)	%
Homebuilding gross margin			130,815		17.8	%			175,821		19.9	%
Add: Inventory impairment			—		0.0	%			411		0.0	%
Adjusted homebuilding gross margin excluding inventory impairment			130,815		17.8	%			176,232		19.9	%
Add: Interest in cost of home sales revenues			13,170		1.8	%			12,785		1.4	%
Add: Purchase price accounting for acquired work in process inventory			688		0.1	%			1,892		0.2	%
Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory		$	144,673		19.7	%		$	190,909		21.6	%

(1)

Beginning in the fourth quarter of 2025, inventory impairment was reclassified to be included in cost of home sales revenues in the Company's consolidated statements of operations rather than presented as a separate line item and prior year amounts have been reclassified to conform to this presentation.

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)
		Three Months Ended March 31,
		2026			2025			% Change
Net income		$	24,409		$	39,384			(38.0)	%
Income tax expense			8,922			13,134			(32.1)	%
Interest in cost of home sales revenues			13,170			12,785			3.0	%
Interest expense (income)			169			798			(78.8)	%
Depreciation and amortization expense			5,352			6,428			(16.7)	%
EBITDA		$	52,022		$	72,529			(28.3)	%
Inventory impairment			—			411			(100.0)	%
Abandonment of lot option contracts (1)			954			1,506			(36.7)	%
Stock-based compensation expense (2)			1,780			292			509.6	%
Restructuring costs			—			1,505			(100.0)	%
Purchase price accounting for acquired work in process inventory			688			1,892			(63.6)	%
Adjusted EBITDA		$	55,444		$	78,135			(29.0)	%

(1)	Beginning in the third quarter of 2025, the Company added "Abandonment of lot option contracts" as an adjustment in its non-GAAP adjusted EBITDA calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.
(2)	Beginning in the fourth quarter of 2025, the Company added "Stock-based compensation expense" as an adjustment in its non-GAAP adjusted EBITDA calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.

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)
		March 31,			December 31,
		2026			2025
Notes payable		$	1,112,751		$	1,102,376
Revolving line of credit			203,700			51,500
Construction loan agreements			(104,838)			(90,269)
Total homebuilding debt			1,211,613			1,063,607
Total stockholders' equity			2,553,199			2,591,732
Total capital		$	3,764,812		$	3,655,339
Homebuilding debt to capital			32.2 %			29.1 %
Total homebuilding debt		$	1,211,613		$	1,063,607
Cash and cash equivalents			(78,182)			(109,443)
Cash held in escrow			(11,621)			(48,571)
Net homebuilding debt			1,121,810			905,593
Total stockholders' equity			2,553,199			2,591,732
Net capital		$	3,675,009		$	3,497,325
Net homebuilding debt to net capital			30.5 %			25.9 %

Contact Information: 
Tyler Langton, Senior Vice President of Investor Relations and Finance
303-268-8345
InvestorRelations@CenturyCommunities.com

Category:
Earnings

View original content to download multimedia:https://www.prnewswire.com/news-releases/century-communities-reports-first-quarter-2026-results-302750717.html

SOURCE Century Communities, Inc.

FAQ

What were Century Communities (CCS) Q1 2026 earnings and EPS on April 22, 2026?

Century Communities reported net income $24.4M, or $0.84 per diluted share. According to the company, adjusted net income was $25.6M, or $0.88 per diluted share for Q1 2026.

How many homes did CCS deliver and what was Q1 2026 home sales revenue?

Century Communities delivered 2,013 homes in Q1 2026 and reported $734.1M of home sales revenues. According to the company, total revenues for the quarter were $789.7M including financial services.

Why did Century Communities lower its full‑year 2026 guidance and what is the new range?

The company cited weaker order activity tied to higher rates, gas prices, and geopolitical impacts. According to the company, full‑year 2026 deliveries are now guided to 9,500–10,500 homes and home sales revenues to $3.5B–$3.8B.

What capital actions did CCS take in Q1 2026 and how much liquidity remains?

Century Communities repurchased 617,087 shares for $40.0M and raised its quarterly dividend 10% to $0.32 per share. According to the company, total liquidity was $886.1M as of March 31, 2026.

What were Century Communities' backlog and book value per share at March 31, 2026?

The company reported 1,155 homes in backlog representing $438.5M of backlog dollar value. According to the company, book value per share was $88.75 at March 31, 2026.