Century Communities — Jan 29, 2025 release

Direct cost controls and improved fixed cost leverage enabled us to increase our full year 2024 adjusted gross margin by 80 basis points to 23.3% and reduce our SG&A as a percentage of home sales revenues by 40 basis points. 2025 should represent another solid year of growth for Century, and we expect our deliveries to be in the range of 11,700 to 12,400 homes and home sales revenues to be in the range of $4.5 to $4.8 billion.” Rob Francescon, Chief Executive Officer and President, said, “Our total lot inventory of 80,632 increased by 9% on a year-over-year basis, with our controlled lots accounting for 56% of our total lots at the end of the fourth quarter. Our community count grew by 28% on a year-over-year basis to 322, a record for the Company. Our balance sheet   remains strong with $2.6 billion of stockholders’ equity and $918 million of liquidity. In the fourth quarter, we repurchased 375,835 shares of our common stock for $30.7 million while reducing our net homebuilding leverage to 27.4%. For the full year 2024, we repurchased 1,027,702 shares of our common stock, or over 3% of shares outstanding at the beginning of the year, for $83.8 million.” Fourth Quarter 2024 Results Net income for the fourth quarter 2024 was $102.7 million, or $3.20 per diluted share. Adjusted net income, which excludes purchase price accounting and impairments on inventory and other investment, was $ 112.0 million, or $3.49 per diluted share. Total revenues were $1.3 billion, with fourth quarter home sales revenues totaling $1.2 billion. Deliveries totaled 3,198 homes. The average sales pr