CCS 9.30.24 Earnings Release 8-K Exhibit 99.1 Century Communities Reports Third Quarter 2024 Results - Home Sales Revenues of $1.1 Billion Increased 29% YoY - - Deliveries of 2,834 Homes Increased 25% YoY - - Net New Home Contracts of 2,563 Increased 19% YoY - - Community Count of 305, a Company Record, Increased 21% YoY - Greenwood Village, Colorado (October 23 , 2024 ) – Century Communities, Inc. (NYSE: CCS), one of the nation’s largest homebuilders , today announced financial results for its third quarter ended September 30, 2024. Third Quarter 2024 Highlights · Net income of $83.0 million, or $2.59 per diluted share · Adjusted net income of $87.0 million, or $2.72 per diluted share · Pre-tax income of $109.9 million · Total revenues of $1.1 billion · Community count of 305, a Company record · Deliveries of 2,834 homes, a Company record for the third quarter · Net new home contracts of 2,563 · Homebuilding gross margin of 21.7% · Adjusted homebuilding gross margin of 23.6% · Acquired Anglia Homes, our ninth homebuilder acquisition “We saw strong growth in our net new contracts and deliveries in the third quarter as demand for affordable new homes remains solid,” said Dale Francescon, Chairman and Co-Chief Executive Officer. “Our net new contracts of 2,563 homes increased by 19% on a year-over-year basis while our deliveries of 2,834 homes, a third quarter record for the Company, increased by 25%. We generated an adjusted homebuilding gross margin of 23.6%, which was roughly in line with second quarter 2024 levels of 24.0%, while we drove both a year-over-year and sequential decline in our selling, general, and administrative expenses as a percent of home sales revenues as we continue to leverage our fixed costs. ” Rob Francescon, Co-Chief Executive Officer and President, said, “Our total lot inventory of 80,121 increased by 17% on a year-over-year basis, with our controlled lots accounting for 55% of our total lots at the end of the third quarter. Our community count grew by 21% on a year-over-year basis to 305, a record for the Company. On July 31, we acquired Anglia Homes, our second homebuilder acquisition this year, which is consistent with our strategy of deepening our share in our existing markets in a land-light manner while also increasing our go-forward access to capital-efficient finished lots.” Third Quarter 2024 Results Net income for the third quarter 2024 was $83.0 million, or $2.59 per diluted share. Adjusted net income, which excludes purchase price accounting and inventory impairment, was $ 87.0 million, or $2.72 per diluted share. Total revenues were $1.1 billion, with third quarter home sales revenues totaling $1.1 billion as well. Deliveries totaled 2,834 homes. The average sales price of home deliveries for the third quarter 2024 was $393,800 . Net new home contracts in the third quarter 2024 were 2,563, and at the end of the third quarter 2024 , the Company had 1,580 homes in backlog, representing $671.4 million of backlog dollar value. Adjusted homebuilding gross margin percentage, excluding interest, inventory impairment and purchase price accounting, was 23.6% in the third quarter of 2024. Homebuilding gross margin percentage in the third quarter 2024 was 21.7%. Selling, general, and administrative expenses as a percent of home sales revenues was 11.9% in the quarter . Adjusted EBITDA and EBITDA for the third quarter 2024 were $137.1 million and $132.3 million, respectively. Financial services revenues and pre-tax income were $20.1 million and $3.1 million, respectively, in the third quarter 2024. Our book value per share increased to a record $81.29 as of September 30, 2024. Balance Sheet and Liquidity The Company ended the third quarter 2024 with a strong financial position, including $2.5 billion of stockholders’ equity and $605.9 million of total liquidity, including $219.9 million of cash. During the third quarter, the Company maintained its quarterly cash dividend of $0.26 per share. As of September 30, 2024, homebuilding debt to capital was 35.8% compared to 31.1% at June 30, 2024 and net homebuilding debt to net capital was 32.1% compared to 28.1% at June 30, 2024 . Full Year 2024 Outlook Scott Dixon, Chief Financial Officer of the Company, commented, “ Given our progress through the first three quarters of the year, we have increased our full year 2024 guidance for home deliveries to be in the range of 10,900 to 11,300 homes and our home sales revenues to be in the range of $4.3 to $4.4 billion .” Webcast and Conference Call The Company will host a webcast and conference call on Wednesday, October 23, 2024, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, to review the Company’s third quarter 2024 results, provide commentary, and conduct a question-and-answer session. To participate in the call, please dial 833-816-1103 (domestic) or 412-317-0685 (international). The live webcast will be available at www.centurycommunities.com in the Investors section. A replay of the conference call will be available through October 30, 2024, by dialing 877-344-7529 (domestic) or 412-317-0088 (international) and entering the passcode 7570440. 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, an industry leader in online home sales, and the highest-ranked homebuilder on Newsweek's list of America's Most Trustworthy Companies 2024—consecutively awarded for a second year—and Newsweek's list of the World's Most Trustworthy Companies 2024. 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 18 states and over 45 markets across the U.S., and also offers title, insurance and lending services in select markets through its Parkway Title, IHL Home Insurance Agency, and Inspire Home Loans 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 common 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,” “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 2024. 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; the potential impact of 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 or other resources; 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues Homebuilding Revenues Home sales revenues $ 1,116,125 $ 865,065 $ 3,055,941 $ 2,419,025 Land sales and other revenues 650 722 2,242 3,811 Total homebuilding revenues 1,116,775 865,787 3,058,183 2,422,836 Financial services revenues 20,091 23,636 66,676 63,768 Total revenues 1,136,866 889,423 3,124,859 2,486,604 Homebuilding Cost of Revenues Cost of home sales revenues (873,081) (652,411) (2,386,208) (1,910,630) Cost of land sales and other revenues (170) — (207) (375) Total homebuilding cost of revenues (873,251) (652,411) (2,386,415) (1,911,005) Financial services costs (17,021) (11,432) (47,894) (33,983) Selling, general, and administrative (132,972) (111,918) (373,054) (315,351) Inventory impairment (1,373) — (1,942) — Other expense (2,337) (1,663) (10,690) (1,509) Income before income tax expense 109,912 111,999 304,864 224,756 Income tax expense (26,892) (28,849) (73,789) (56,850) Net income $ 83,020 $ 83,150 $ 231,075 $ 167,906 Earnings per share: Basic $ 2.65 $ 2.60 $ 7.31 $ 5.25 Diluted $ 2.59 $ 2.58 $ 7.19 $ 5.21 Weighted average common shares outstanding: Basic 31,336,756 31,962,884 31,596,995 31,967,672 Diluted 32,025,015 32,237,022 32,117,917 32,200,677 Century Communities, Inc. C onsolidated Balance Sheet s (Unaudited) (in thousands, except share amounts) September 30, December 31, 2024 2023 Assets (unaudited) (audited) Cash and cash equivalents $ 149,155 $ 226,150 Cash held in escrow 70,755 101,845 Accounts receivable 73,016 76,213 Inventories 3,581,099 3,016,641 Mortgage loans held for sale 257,187 251,852 Prepaid expenses and other assets 427,961 350,193 Property and equipment, net 165,117 69,075 Deferred tax assets, net 17,241 16,998 Goodwill 39,434 30,395 Total assets $ 4,780,965 $ 4,139,362 Liabilities and stockholders' equity Liabilities: Accounts payable $ 165,369 $ 147,265 Accrued expenses and other liabilities 287,937 303,392 Notes payable 1,118,943 1,062,471 Revolving line of credit 414,000 — Mortgage repurchase facilities 247,214 239,298 Total liabilities 2,233,463 1,752,426 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, 31,337,062 and 31,774,615 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 313 318 Additional paid-in capital 547,724 592,989 Retained earnings 1,999,465 1,793,629 Total stockholders' equity 2,547,502 2,386,936 Total liabilities and stockholders' equity $ 4,780,965 $ 4,139,362 Century Communities, Inc. Homebuilding Operational Data (Unaudited) Net New Home Contracts Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 % Change 2024 2023 % Change West 365 269 35.7 % 1,181 849 39.1 % Mountain 463 395 17.2 % 1,626 1,174 38.5 % Texas 454 377 20.4 % 1,488 1,252 18.8 % Southeast 396 352 12.5 % 1,232 945 30.4 % Century Complete 885 756 17.1 % 2,682 2,268 18.3 % Total 2,563 2,149 19.3 % 8,209 6,488 26.5 % Home Deliveries (dollars in thousands) Three Months Ended September 30, 2024 2023 % Change Homes Average Sales Price Homes Average Sales Price Homes Average Sales Price West 363 $ 662.9 281 $ 596.6 29.2 % 11.1 % Mountain 513 $ 528.4 415 $ 498.5 23.6 % 6.0 % Texas 530 $ 300.9 382 $ 292.3 38.7 % 2.9 % Southeast 427 $ 421.9 378 $ 435.9 13.0 % (3.2) % Century Complete 1,001 $ 264.6 808 $ 265.0 23.9 % (0.2) % Total / Weighted Average 2,834 $ 393.8 2,264 $ 382.1 25.2 % 3.1 % Nine Months Ended September 30, 2024 2023 % Change Homes Average Sales Price Homes Average Sales Price Homes Average Sales Price West 972 $ 634.3 738 $ 590.5 31.7 % 7.4 % Mountain 1,494 $ 524.8 1,325 $ 514.4 12.8 % 2.0 % Texas 1,439 $ 303.4 1,159 $ 282.7 24.2 % 7.3 % Southeast 1,155 $ 429.1 851 $ 433.6 35.7 % (1.0) % Century Complete 2,749 $ 263.0 2,338 $ 258.8 17.6 % 1.6 % Total / Weighted Average 7,809 $ 391.3 6,411 $ 377.3 21.8 % 3.7 % Century Communities, Inc. Homebuilding Operational Data (Unaudited) Selling Communities As of September 30, Increase/Decrease 2024 2023 Amount % Change West 27 28 (1) (3.6) % Mountain 49 49 — — % Texas 74 42 32 76.2 % Southeast 38 29 9 31.0 % Century Complete 117 104 13 12.5 % Total 305 252 53 21.0 % Backlog (dollars in thousands) As of September 30, 2024 2023 % Change Homes Dollar Value Average Sales Price Homes Dollar Value Average Sales Price Homes Dollar Value Average Sales Price West 315 $ 196,385 $ 623.4 191 $ 116,721 $ 611.1 64.9 % 68.3 % 2.0 % Mountain 295 171,990 $ 583.0 290 146,137 $ 503.9 1.7 % 17.7 % 15.7 % Texas 315 99,066 $ 314.5 248 76,224 $ 307.4 27.0 % 30.0 % 2.3 % Southeast 219 94,202 $ 430.1 299 136,921 $ 457.9 (26.8) % (31.2) % (6.1) % Century Complete 436 109,761 $ 251.7 859 231,166 $ 269.1 (49.2) % (52.5) % (6.5) % Total / Weighted Average 1,580 $ 671,404 $ 424.9 1,887 $ 707,169 $ 374.8 (16.3) % (5.1) % 13.4 % Lot Inventory As of September 30, 2024 2023 % Change Owned Controlled Total Owned Controlled Total Owned Controlled Total West 4,445 3,703 8,148 4,160 3,991 8,151 6.9 % (7.2) % (0.0) % Mountain 8,681 4,808 13,489 8,751 4,745 13,496 (0.8) % 1.3 % (0.1) % Texas 12,413 9,693 22,106 8,105 9,691 17,796 53.2 % 0.0 % 24.2 % Southeast 5,563 12,127 17,690 5,583 8,602 14,185 (0.4) % 41.0 % 24.7 % Century Complete 4,584 14,104 18,688 3,638 11,304 14,942 26.0 % 24.8 % 25.1 % Total 35,686 44,435 80,121 30,237 38,333 68,570 18.0 % 15.9 % 16.8 % % of Total 44.5% 55.5% 100.0% 44.1% 55.9% 100.0% Century Communities, Inc. Reconciliation of Non-GAAP Financial Measures (Unaudited) Adjusted net income and adjusted diluted earnings per share (which we refer to as “Adjusted EPS”) are non-GAAP financial measures that we believe are useful to management, investors and other users of our financial information in evaluating our operating results and understanding our operating trends without the effect of certain non-recurring items. We believe excluding certain non-recurring items provides more comparable assessment of our financial results from period to period. We define adjusted net income as consolidated net income before (i) income tax expense, (ii) inventory impairment, if applicable (iii) restructuring costs, if applicable, (iv) loss on debt extinguishment, if applicable, (v) purchase price accounting for acquired work in process inventory, if applicable, and (vi) impairment on other investments, if applicable, less adjusted income tax expense, calculated using our 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 Common Share (in thousands, exce pt share and per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator Net income $ 83,020 $ 83,150 $ 231,075 $ 167,906 Denominator Weighted average common shares outstanding - basic 31,336,756 31,962,884 31,596,995 31,967,672 Dilutive effect of stock-based compensation awards 688,259 274,138 520,922 233,005 Weighted average common shares outstanding - diluted 32,025,015 32,237,022 32,117,917 32,200,677 Earnings per share: Basic $ 2.65 $ 2.60 $ 7.31 $ 5.25 Diluted $ 2.59 $ 2.58 $ 7.19 $ 5.21 Adjusted earnings per share Numerator Net income $ 83,020 $ 83,150 $ 231,075 $ 167,906 Income tax expense 26,892 28,849 73,789 56,850 Income before income tax expense 109,912 111,999 304,864 224,756 Inventory impairment 1,373 — 1,942 — Impairment on other investment — — 7,722 — Purchase price accounting for acquired work in process inventory 3,446 — 5,999 — Adjusted income before income tax expense 114,731 111,999 320,527 224,756 Adjusted income tax expense (1) (27,769) (28,849) (77,580) (56,850) Adjusted net income $ 86,962 $ 83,150 $ 242,947 $ 167,906 Denominator - Diluted 32,025,015 32,237,022 32,117,917 32,200,677 Adjusted diluted earnings per share $ 2.72 $ 2.58 $ 7.56 $ 5.21 (1) The tax rates used in calculating adjusted net income for the three and nine months ended September 3 0 , 202 4 were 2 4 . 2 %, respectively, which are reflective of the Company’s GAAP tax rate for the nine months ended September 30, 2024. The tax rates used in calculating adjusted net income for the three and nine months ended September 30, 2023 were 25. 8 % and 2 5.3 %, respectively, which are reflective of the Company’s GAAP tax rates for the applicable periods. C entury 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) are not measurement s 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 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 September 30, 2024 % 2023 % Home sales revenues $ 1,116,125 100.0 % $ 865,065 100.0 % Cost of home sales revenues (873,081) (78.2) % (652,411) (75.4) % Inventory impairment (1,373) (0.1) % — — % Homebuilding gross margin 241,671 21.7 % 212,654 24.6 % Add: Inventory impairment 1,373 0.1 % — — % Add: Interest in cost of home sales revenues 16,492 1.5 % 10,652 1.2 % Adjusted homebuilding gross margin excluding interest and inventory impairment $ 259,536 23.3 % $ 223,306 25.8 % Add: Purchase price accounting for acquired work in process inventory 3,446 0.3 % — — % Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory $ 262,982 23.6 % $ 223,306 25.8 % Nine Months Ended September 30, 2024 % 2023 % Home sales revenues $ 3,055,941 100.0 % $ 2,419,025 100.0 % Cost of home sales revenues (2,386,208) (78.1) % (1,910,630) (79.0) % Inventory impairment (1,942) (0.1) % — — % Homebuilding gross margin 667,791 21.9 % 508,395 21.0 % Add: Inventory impairment 1,942 0.1 % — — % Add: Interest in cost of home sales revenues 42,117 1.4 % 30,729 1.3 % Adjusted homebuilding gross margin excluding interest and inventory impairment $ 711,850 23.3 % $ 539,124 22.3 % Add: Purchase price accounting for acquired work in process inventory 5,999 0.2 % — — % Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory $ 717,849 23.5 % $ 539,124 22.3 % C entury Communities, Inc. Reconciliation of Non-GAAP Financial Measures (Unaudited) EBITDA and Adjusted EBITDA EBITDA and adjusted EBITDA are non-GAAP financial measures we use as a supplemental measure in evaluating operating performance. We define 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. We define adjusted EBITDA as EBITDA before loss on debt extinguishment (if applicable), inventory impairment (if applicable), purchase price accounting for acquired work in process inventory (if applicable), and impairment on other investments (if applicable). We believe 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, our management believes that these measurements are useful for comparing general operating performance from period to period. Neither EBITDA or 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. Our presentation of Adjusted EBITDA should not be construed as an indication that our future results will be unaffected by unusual or non-recurring items. Each of our EBITDA and adjusted EBITDA is limited as an analytical tool, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 % Change 2024 2023 % Change Net income $ 83,020 $ 83,150 (0.2) % $ 231,075 $ 167,906 37.6 % Income tax expense 26,892 28,849 (6.8) % 73,789 56,850 29.8 % Interest in cost of home sales revenues 16,492 10,652 54.8 % 42,117 30,729 37.1 % Interest income (369) (1,489) (75.2) % (2,693) (6,431) (58.1) % Depreciation and amortization expense 6,272 4,106 52.8 % 17,437 11,019 58.2 % EBITDA 132,307 125,268 5.6 % 361,725 260,073 39.1 % Inventory impairment 1,373 — NM 1,942 — NM Impairment on other investment — — NM 7,722 — NM Purchase price accounting for acquired work in process inventory 3,446 — NM 5,999 — NM Adjusted EBITDA $ 137,126 $ 125,268 9.5 % $ 377,388 $ 260,073 45.1 % 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 our total debt minus outstanding borrowings under our construction loan agreement and mortgage repurchase facilities. The most directly comparable GAAP measure is the ratio of 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) September 30, December 31, 2024 2023 Notes payable $ 1,118,943 $ 1,062,471 Revolving line of credit 414,000 — Construction loan agreements (110,337) (44,895) Total homebuilding debt 1,422,606 1,017,576 Total stockholders' equity 2,547,502 2,386,936 Total capital $ 3,970,108 $ 3,404,512 Homebuilding debt to capital 35.8% 29.9% Total homebuilding debt $ 1,422,606 $ 1,017,576 Cash and cash equivalents (149,155) (226,150) Cash held in escrow (70,755) (101,845) Net homebuilding debt 1,202,696 689,581 Total stockholders' equity 2,547,502 2,386,936 Net capital $ 3,750,198 $ 3,076,517 Net homebuilding debt to net capital 32.1% 22.4% Contact Information: Tyler Langton, Senior Vice President of Investor Relations 303-268-8345 Investorrelations @CenturyCommunities.com Category: Earnings

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.