Century Communities Reports Fourth Quarter and Full Year 2025 Results

Rhea-AI Impact

(High)

Rhea-AI Sentiment

(Neutral)

Rhea-AI Summary

Century Communities (NYSE: CCS) reported fourth quarter and full year 2025 results, highlighting Q4 revenue $1.2B, Q4 net income $36.0M ($1.21 diluted EPS) and full year 2025 revenue $4.1B with net income $147.6M ($4.86 diluted EPS).

Key operational metrics: 10,792 total residential deliveries in 2025, record book value per share $89.21, repurchases of >7% of shares for $143.6M, and year-end liquidity of $1.1B.

Positive

Record book value per share of $89.21 as of Dec 31, 2025
Repurchased 2,267,723 shares (>7% of shares) for $143.6 million in 2025
Total revenues of $4.1 billion for full year 2025
Total residential deliveries of 10,792 homes in 2025
Year-end total liquidity of $1.1 billion

Negative

Backlog dollar value of $283.7 million at Dec 31, 2025
Homebuilding debt to capital of 29.1% at year end

Key Figures

Q4 2025 total revenues: $1.2 billion Q4 2025 net income: $36.0 million Q4 2025 adjusted net income: $47.1 million +5 more

8 metrics

Q4 2025 total revenues $1.2 billion Fourth quarter 2025 results

Q4 2025 net income $36.0 million Fourth quarter 2025 net income

Q4 2025 adjusted net income $47.1 million Fourth quarter 2025 adjusted net income

FY 2025 total revenues $4.1 billion Full year 2025 results

FY 2025 net income $147.6 million Full year 2025 net income

Book value per share $89.21 Company record as of December 31, 2025

2025 share repurchases $143.6 million Repurchase of 2,267,723 shares in full year 2025

2026 delivery guidance 10,000–11,000 homes Full year 2026 outlook for new home deliveries

Market Reality Check

Price: $63.99 Vol: Volume 264,045 is close t...

normal vol

$63.99 Last Close

Volume Volume 264,045 is close to the 20-day average of 270,309 (relative volume 0.98). normal

Technical Shares at $63.45 are trading above the 200-day MA of $60.32, despite a -2.38% move pre-release.

Peers on Argus

CCS fell 2.38% while peers were mixed: VTMX up 0.76%, FOR up 2.2%, HHH down 0.26...

CCS fell 2.38% while peers were mixed: VTMX up 0.76%, FOR up 2.2%, HHH down 0.26%, SDHC down 4.89%, FPH flat. The pattern points to stock-specific dynamics rather than a uniform sector move.

Previous Earnings Reports

5 past events · Latest: Oct 22 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Oct 22	Q3 2025 earnings	Positive	-0.7%	Reported Q3 2025 results with $980.3M revenue and record book value per share.
Jul 23	Q2 2025 earnings	Neutral	-5.8%	Q2 2025 results with $1.0B revenue and revised 2025 delivery and revenue guidance.
Apr 23	Q1 2025 earnings	Positive	-6.3%	Q1 2025 results highlighting $903.2M revenue and increased dividend with updated guidance.
Jan 29	FY 2024 earnings	Positive	+4.8%	Strong Q4 and full year 2024 results with record deliveries and higher book value.
Oct 23	Q3 2024 earnings	Positive	+2.6%	Q3 2024 showed strong revenue growth, record deliveries, and higher guidance.

Pattern Detected

Earnings have produced an average move of 4.04%, with three aligned and two divergent reactions, indicating mixed but slightly more aligned responses over the past five reports.

Recent Company History

Recent earnings for Century Communities show a progression through Q1–Q3 2025 with revenues of $903.2M, $1.0B, and $980.3M, alongside steady net income in the mid‑$30M to high‑$30M range. The company emphasized record community counts, strong margins, and consistent dividends and buybacks. Full year 2024 delivered record revenues of $4.4B and strong Q4 performance. This new Q4 and full year 2025 report follows that trajectory, updating investors on profitability, margins, and capital returns after multiple guidance revisions and balance sheet actions in 2025.

Historical Comparison

earnings

+4.0 %

Average Historical Move

Historical Analysis

Past five earnings releases moved CCS by an average of 4.04%, with mostly positive fundamentals but mixed price reactions. Today’s Q4/FY 2025 update fits into that established earnings pattern.

Typical Pattern

Across 2024–2025, CCS moved from record 2024 results into 2025 quarters with revenues of $903.2M, $1.0B, and $980.3M, refining home delivery and revenue guidance ahead of this Q4/FY 2025 report.

Market Pulse Summary

This announcement details Century Communities’ Q4 and full year 2025 performance, including $4.1 bil...

Analysis

This announcement details Century Communities’ Q4 and full year 2025 performance, including $4.1 billion in total revenues, net income of $147.6 million, and record book value per share of $89.21. The company returned $143.6 million via share repurchases in 2025 and outlined 2026 expectations of 10,000–11,000 deliveries and home sales revenues of $3.6–$4.1 billion. Investors may watch execution versus this guidance and any changes to demand or margins across 2026.

Key Terms

adjusted EBITDA, EBITDA, backlog

3 terms

adjusted EBITDA financial

"Adjusted EBITDA and EBITDA for the fourth quarter 2025 were $97.4 million and $75.9 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 full year 2025 were $349.7 million and $284.6 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 789 homes in backlog, representing $283.7 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.

AI-generated analysis. Not financial advice.

01/28/2026 - 04:05 PM

- 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, Colo., Jan. 28, 2026 /PRNewswire/ -- 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

Net income of $36.0 million, or $1.21 per diluted share
Adjusted net income of $47.1 million, or $1.59 per diluted share
Total revenues of $1.2 billion
Total residential units delivered of 3,435
Deliveries of 3,030 new homes
Delivered Century Living multi-family community with 300 units for $97.2 million, and 105 previously leased rental homes
Net new home contracts of 2,702
Homebuilding gross margin of 15.4%
Adjusted homebuilding gross margin of 18.3%
Repurchased 333,881 shares of common stock for $20.0 million
Homebuilding debt to capital of 29.1%
Net homebuilding debt to net capital of 25.9%

Full Year 2025 Highlights

Net income of $147.6 million, or $4.86 per diluted share
Adjusted net income of $181.7 million, or $5.99 per diluted share
Total revenues of $4.1 billion
Total residential units delivered of 10,792
Deliveries of 10,387 new homes
Delivered Century Living multi-family community with 300 units for $97.2 million, and 105 previously leased rental homes
Net new home contracts of 10,326
Homebuilding gross margin of 17.6%
Adjusted homebuilding gross margin of 19.9%
Repurchased 2,267,723 shares of common stock, over 7% of shares outstanding at the beginning of the year, for $143.6 million

"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 23^rd 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.

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 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.

Century Communities, Inc. Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share amounts)

	Three Months Ended December 31,				Year Ended December 31,
	2025		2024		2025		2024
Revenues
Homebuilding Revenues
Home sales revenues	$	1,111,045	$	1,246,697	$	3,926,411	$	4,302,638
Land sales and other revenues		803		511		8,012		2,753
Total homebuilding revenues		1,111,848		1,247,208		3,934,423		4,305,391
Multi-family sales revenues		97,200		—		97,200		—
Financial services revenues		24,527		26,221		86,193		92,897
Total revenues		1,233,575		1,273,429		4,117,816		4,398,288
Homebuilding Cost of Revenues
Cost of home sales revenues		(939,495)		(989,758)		(3,235,679)		(3,377,909)
Cost of land sales and other revenues		(388)		—		(7,587)		(207)
Total homebuilding cost of revenues		(939,883)		(989,758)		(3,243,266)		(3,378,116)
Cost of multi-family sales revenues		(91,849)		—		(91,849)		—
Financial services costs		(16,911)		(18,291)		(67,006)		(66,185)
Selling, general and administrative expense		(135,402)		(143,436)		(504,893)		(516,489)
Other (expense) income, net		(2,557)		13,252		(16,390)		2,562
Income before income tax expense		46,973		135,196		194,412		440,060
Income tax expense		(11,017)		(32,455)		(46,815)		(106,244)
Net income	$	35,956	$	102,741	$	147,597	$	333,816

Earnings per share:
Basic	$	1.23	$	3.29	$	4.92	$	10.59
Diluted	$	1.21	$	3.20	$	4.86	$	10.40
Weighted average common shares outstanding:
Basic		29,186,481		31,252,028		29,994,465		31,510,282
Diluted		29,615,793		32,091,471		30,359,988		32,110,835

Century Communities, Inc. Consolidated Balance Sheets (Unaudited) (in thousands, except share amounts)

	December 31,		December 31,
	2025		2024
Assets	(unaudited)		(audited)
Cash and cash equivalents	$	109,443	$	149,998
Cash held in escrow		48,571		3,004
Accounts receivable		57,242		50,318
Inventories		3,361,158		3,454,337
Mortgage loans held for sale		299,145		236,926
Prepaid expenses and other assets		435,683		419,384
Property and equipment, net		69,368		155,176
Deferred tax assets, net		38,176		22,220
Goodwill		41,109		41,109
Total assets	$	4,459,895	$	4,532,472
Liabilities and stockholders' equity
Liabilities:
Accounts payable	$	114,416	$	133,086
Accrued expenses and other liabilities		310,602		302,317
Notes payable		1,102,376		1,107,909
Revolving line of credit		51,500		135,500
Mortgage repurchase facilities		289,269		232,804
Total liabilities		1,868,163		1,911,616
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, 29,050,515 and 30,961,227 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively		291		310
Additional paid-in capital		385,962		526,959
Retained earnings		2,205,479		2,093,587
Total stockholders' equity		2,591,732		2,620,856
Total liabilities and stockholders' equity	$	4,459,895	$	4,532,472

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)	%

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 %

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


(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 years ended December 31, 2025 and 2024 were 24.1% and 24.1%, 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 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	%


(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 December 31,							Year Ended December 31,
	2025		2024		% Change			2025		2024		% Change
Net income	$	35,956	$	102,741		(65.0)	%	$	147,597	$	333,816		(55.8)	%
Income tax expense		11,017		32,455		(66.1)	%		46,815		106,244		(55.9)	%
Interest in cost of home sales revenues		18,744		18,169		3.2	%		60,738		60,286		0.7	%
Interest expense (income)		4,212		(40)		NM	%		4,657		(2,733)		(270.4)	%
Depreciation and amortization expense		5,955		6,849		(13.1)	%		24,823		24,286		2.2	%
EBITDA	$	75,884	$	160,174		(52.6)	%	$	284,630	$	521,899		(45.5)	%
Inventory impairment		10,865		6,835		59.0	%		21,816		8,778		148.5	%
Abandonment of lot option contracts ⁽¹⁾		1,851		2,095		(11.6)	%		11,158		6,036		84.9	%
Stock-based compensation expense ⁽²⁾		6,400		9,774		(34.5)	%		20,120		27,868		(27.8)	%
Restructuring costs		740		—		NM			2,245		—		NM
Loss on debt extinguishment		—		—		NM			1,361		—		NM
Impairment on other investment		—		2,180		NM			—		9,902		NM
Purchase price accounting for acquired work in process inventory		1,612		3,444		(53.2)	%		8,375		9,443		(11.3)	%
Adjusted EBITDA	$	97,352	$	184,502		(47.2)	%	$	349,705	$	583,926		(40.1)	%


(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.

NM – Not Meaningful

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)

	December 31,		December 31,
	2025		2024
Notes payable	$	1,102,376	$	1,107,909
Revolving line of credit		51,500		135,500
Construction loan agreements		(90,269)		(102,436)
Total homebuilding debt		1,063,607		1,140,973
Total stockholders' equity		2,591,732		2,620,856
Total capital	$	3,655,339	$	3,761,829
Homebuilding debt to capital		29.1 %		30.3 %

Total homebuilding debt	$	1,063,607	$	1,140,973
Cash and cash equivalents		(109,443)		(149,998)
Cash held in escrow		(48,571)		(3,004)
Net homebuilding debt		905,593		987,971
Total stockholders' equity		2,591,732		2,620,856
Net capital	$	3,497,325	$	3,608,827

Net homebuilding debt to net capital		25.9 %		27.4 %

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

Category:
Earnings

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SOURCE Century Communities, Inc.

FAQ

What were Century Communities (CCS) fourth quarter 2025 earnings per share?

Q4 2025 diluted EPS was $1.21 reported and $1.59 adjusted per diluted share. According to the company, Q4 net income was $36.0 million and adjusted net income was $47.1 million.

How many homes did CCS deliver in full year 2025 and what was average price?

Century delivered 10,792 total residential units in 2025, including 10,387 new homes. According to the company, the average sales price of new home deliveries for 2025 was $378,000.

How much stock did Century Communities repurchase in 2025 and what percent outstanding?

Century repurchased 2,267,723 shares for $143.6 million, representing over 7% of shares outstanding at the start of 2025. According to the company, total capital returned was a record $178 million.

What is Century Communities' 2026 guidance for home deliveries and sales revenue?

For full year 2026, the company expects 10,000–11,000 new home deliveries and homes sales revenues of $3.6B–$4.1B. According to the company, guidance assumes no significant change in the current economic environment.

What dividends did CCS pay in 2025 and what is the quarterly rate?

Century paid total cash dividends of $1.16 per share in 2025 and maintained a quarterly dividend of $0.29 per share in Q4. According to the company, the dividend policy was part of disciplined capital allocation.

What were Century's homebuilding gross margins for 2025 and Q4 2025?

Full year 2025 homebuilding gross margin was 17.6%, with adjusted homebuilding gross margin 19.9%. According to the company, Q4 2025 homebuilding gross margin was 15.4% and adjusted margin was 18.3%.

Century Communities Reports Fourth Quarter and Full Year 2025 Results