CCS 93025 Earnings Release 8-K Exhibit 991 Century Communities Reports Third Quarter 2025 Results - Deliveries of 2,486 Homes Generating $980.3 Million in Total Revenues - - Net New Home Contracts of 2,386 - - Net Income of $37.4 Million, or $1.25 Per Diluted Share - - Adjusted Net Income of $45.7 Million, or $1.52 Per Diluted Share - - Book Value per Share of $87.74, a Company Record - Greenwood Village, Colorado (October 22 , 2025 ) – Century Communities, Inc. (NYSE: CCS), one of the nation’s largest homebuilders , today announced financial results for its third quarter ended September 30, 2025. Third Quarter 2025 Highlights · Net income of $37.4 million, or $1.25 per diluted share · Adjusted net income of $45.7 million, or $1.52 per diluted share · Total revenues of $980.3 million · Community count of 321 · Deliveries of 2,486 homes · Net new home contracts of 2,386 · Homebuilding gross margin of 17.9% · Adjusted homebuilding gross margin of 20.1% · Repurchased 296,903 shares of common stock for $20.0 million · Closed on private offering of $500 million of 6.625% Senior Notes due 2033 and extinguished $500 million of 6.750% Senior Notes due 2027 “In the third quarter, we performed well in a challenging environment and generated solid financial and operational results, meeting or exceeding our expectations, including the delivery of 2,486 homes to achieve the high end of our guidance,” said Dale Francescon, Executive Chairman. “While buyers remain cautious given the current level of economic uncertainty, they still have a desire to own a new home. We expect any interest rate relief and improvement in consumer confidence will start to unlock buyer demand, which Century is well positioned to meet given the growth in our community count.” Rob Francescon, Chief Executive Officer and President, said, “Our adjusted homebuilding gross margin of 20.1% was consistent with second quarter 2025 levels, as we continued to see reductions in our direct costs and were able to limit increases in our incentives even in the seasonally slower third quarter. Our balance sheet remains strong with $2.6 billion of stockholders’ equity and $836 million of liquidity, and our book value per share increased to $87.74, a Company record. In the third quarter, we repurchased an additional 296,903 shares of our common stock for $20.0 million, which coupled with our purchases earlier in the year, represents a reduction of 6% from shares outstanding at the beginning of the year.” Third Quarter 2025 Results Net income for the third quarter 2025 was $37.4 million, or $1.25 per diluted share. Adjusted net income was $ 45.7 million, or $1.52 per diluted share. Total revenues were $980.3 million, with third quarter home sales revenues totaling $955.2 million. Deliveries totaled 2,486 homes. The average sales price of home deliveries for the third quarter 2025 was $384,200 . Net new home contracts in the third quarter 2025 were 2,386, and at the end of the third quarter 2025 , the Company had 1,117 homes in backlog, representing $416.9 million of backlog dollar value. Adjusted homebuilding gross margin percentage, excluding interest, inventory impairment and purchase price accounting, was 20.1% in the third quarter of 2025. Homebuilding gross margin percentage excluding inventory impairment in the third quarter 2025 was 18.3%, and homebuilding gross margin was 17.9% compared to 17.6% for the second quarter of 2025. Selling, general, and administrative expenses as a percent of home sales revenues was 12.6% in the quarter . Adjusted EBITDA and EBITDA for the third quarter 2025 were $82.3 million and $69.7 million, respectively. Financial services revenues and pre-tax income were $19.4 million and $3.0 million, respectively, in the third quarter 2025. Balance Sheet and Liquidity The Company ended the third quarter 2025 with a strong financial position, including $2.6 billion of stockholders’ equity and $835.8 million of total liquidity, including $174.8 million of cash. During the quarter, we closed on a private offering of $500 million of 6.625% Senior Notes due 2033, with the proceeds being used to redeem our $500 million of 6.750% Senior Notes due 2027. Our book value per share was a Company record $87.74 as of September 30, 2025. During the third quarter, consistent with our disciplined capital allocation approach to enhance the long-term value of the Company and return capital to our shareholders, we maintained our quarterly cash dividend of $0.29 per share and repurchased 296,903 shares of common stock for $20.0 million. As of September 30, 2025, homebuilding debt to capital equaled 34.5% and net homebuilding debt to net capital equaled 31.4% . Full Year 2025 Outlook Scott Dixon, Chief Financial Officer of the Company, commented, “We are narrowing our full year 2025 home delivery guidance to be in the range of 10,000 to 10,250 homes and our home sales revenues to be in the range of $3.8 to $3.9 billion .” Webcast and Conference Call The Company will host a webcast and conference call on Wednesday, October 22, 2025, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, to review the Company’s third quarter 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 80774. 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 29 , 2025, by dialing 888-660-6264 (domestic) or 646-517-3975 (international) and entering conference ID 80774. 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 one of the World's Most Trustworthy Companies (2025). 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 2025, including without limitation anticipated home deliveries and revenues, and the Company’s expectation that expect any interest rate relief and improvement in consumer confidence will start to unlock buyer demand. 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 September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Revenues Homebuilding Revenues Home sales revenues $ 955,162 $ 1,116,125 $ 2,815,365 $ 3,055,941 Land sales and other revenues 5,764 650 7,209 2,242 Total homebuilding revenues 960,926 1,116,775 2,822,574 3,058,183 Financial services revenues 19,358 20,091 61,666 66,676 Total revenues 980,284 1,136,866 2,884,240 3,124,859 Homebuilding Cost of Revenues Cost of home sales revenues (780,566) (873,081) (2,285,233) (2,386,208) Cost of land sales and other revenues (6,303) (170) (7,199) (207) Total homebuilding cost of revenues (786,869) (873,251) (2,292,432) (2,386,415) Financial services costs (16,371) (17,021) (50,095) (47,894) Selling, general, and administrative (119,895) (132,972) (369,491) (373,054) Inventory impairment (3,180) (1,373) (10,951) (1,942) Other ( expense ) income, net (6,131) (2,337) (13,832) (10,690) Income before income tax expense 47,838 109,912 147,439 304,864 Income tax expense (10,435) (26,892) (35,798) (73,789) Net income $ 37,403 $ 83,020 $ 111,641 $ 231,075 Earnings per share: Basic $ 1.26 $ 2.65 $ 3.69 $ 7.31 Diluted $ 1.25 $ 2.59 $ 3.65 $ 7.19 Weighted average common shares outstanding: Basic 29,645,795 31,336,756 30,266,752 31,596,995 Diluted 30,019,153 32,025,015 30,611,011 32,117,917 Century Communities, Inc. C onsolidated Balance Sheet s (Unaudited) (in thousands, except share amounts) September 30, December 31, 2025 2024 Assets (unaudited) (audited) Cash and cash equivalents $ 130,075 $ 149,998 Cash held in escrow 44,717 3,004 Accounts receivable 70,454 50,318 Inventories 3,584,246 3,454,337 Mortgage loans held for sale 183,527 236,926 Prepaid expenses and other assets 525,345 419,384 Property and equipment, net 91,800 155,176 Deferred tax assets, net 22,702 22,220 Goodwill 41,109 41,109 Total assets $ 4,693,975 $ 4,532,472 Liabilities and stockholders' equity Liabilities: Accounts payable $ 168,989 $ 133,086 Accrued expenses and other liabilities 283,990 302,317 Notes payable 1,147,370 1,107,909 Revolving line of credit 339,000 135,500 Mortgage repurchase facilities 176,604 232,804 Total liabilities 2,115,953 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, 29,383,819 and 30,961,227 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 294 310 Additional paid-in capital 399,491 526,959 Retained earnings 2,178,237 2,093,587 Total stockholders' equity 2,578,022 2,620,856 Total liabilities and stockholders' equity $ 4,693,975 $ 4,532,472 Century Communities, Inc. Homebuilding Operational Data (Unaudited) Net New Home Contracts Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 % Change 2025 2024 % Change West 337 365 (7.7) % 1,052 1,181 (10.9) % Mountain 418 463 (9.7) % 1,216 1,626 (25.2) % Texas 433 454 (4.6) % 1,436 1,488 (3.5) % Southeast 388 396 (2.0) % 1,159 1,232 (5.9) % Century Complete 810 885 (8.5) % 2,761 2,682 2.9 % Total 2,386 2,563 (6.9) % 7,624 8,209 (7.1) % Home Deliveries (dollars in thousands) Three Months Ended September 30, 2025 2024 % Change Homes Average Sales Price Homes Average Sales Price Homes Average Sales Price West 369 $ 591.0 363 $ 662.9 1.7 % (10.8) % Mountain 401 506.0 513 528.4 (21.8) % (4.2) % Texas 460 293.8 530 300.9 (13.2) % (2.4) % Southeast 423 413.8 427 421.9 (0.9) % (1.9) % Century Complete 833 268.9 1,001 264.6 (16.8) % 1.6 % Total / Weighted Average 2,486 $ 384.2 2,834 $ 393.8 (12.3) % (2.4) % Nine Months Ended September 30, 2025 2024 % Change Homes Average Sales Price Homes Average Sales Price Homes Average Sales Price West 1,007 $ 597.4 972 $ 634.3 3.6 % (5.8) % Mountain 1,226 517.2 1,494 524.8 (17.9) % (1.4) % Texas 1,418 295.6 1,439 303.4 (1.5) % (2.6) % Southeast 1,127 427.5 1,155 429.1 (2.4) % (0.4) % Century Complete 2,579 263.2 2,749 263.0 (6.2) % 0.1 % Total / Weighted Average 7,357 $ 382.7 7,809 $ 391.3 (5.8) % (2.2) % Century Communities, Inc. Homebuilding Operational Data (Unaudited) Selling Communities As of September 30, Increase/Decrease 2025 2024 Amount % Change West 38 27 11 40.7 % Mountain 53 49 4 8.2 % Texas 73 74 (1) (1.4) % Southeast 45 38 7 18.4 % Century Complete 112 117 (5) (4.3) % Total 321 305 16 5.2 % Backlog (dollars in thousands) As of September 30, 2025 2024 % Change Homes Dollar Value Average Sales Price Homes Dollar Value Average Sales Price Homes Dollar Value Average Sales Price West 204 $ 115,035 $ 563.9 315 $ 196,385 $ 623.4 (35.2) % (41.4) % (9.5) % Mountain 139 73,330 527.6 295 171,990 583.0 (52.9) % (57.4) % (9.5) % Texas 195 59,212 303.6 315 99,066 314.5 (38.1) % (40.2) % (3.5) % Southeast 139 61,170 440.1 219 94,202 430.1 (36.5) % (35.1) % 2.3 % Century Complete 440 108,177 245.9 436 109,761 251.7 0.9 % (1.4) % (2.3) % Total / Weighted Average 1,117 $ 416,924 $ 373.3 1,580 $ 671,404 $ 424.9 (29.3) % (37.9) % (12.1) % Lot Inventory As of September 30, 2025 2024 % Change Owned Controlled Total Owned Controlled Total Owned Controlled Total West 3,709 2,207 5,916 4,445 3,703 8,148 (16.6) % (40.4) % (27.4) % Mountain 8,522 1,292 9,814 8,681 4,808 13,489 (1.8) % (73.1) % (27.2) % Texas 14,713 3,198 17,911 12,413 9,693 22,106 18.5 % (67.0) % (19.0) % Southeast 5,221 7,857 13,078 5,563 12,127 17,690 (6.1) % (35.2) % (26.1) % Century Complete 4,318 11,202 15,520 4,584 14,104 18,688 (5.8) % (20.6) % (17.0) % Total 36,483 25,756 62,239 35,686 44,435 80,121 2.2 % (42.0) % (22.3) % % of Total 58.6% 41.4% 100.0% 44.5% 55.5% 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 believe s 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 believe s excluding certain non-recurring items provides more comparable assessment of its financial results from period to period. The Company define s 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 (v ii ) 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, exce pt share and per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Numerator Net income $ 37,403 $ 83,020 $ 111,641 $ 231,075 Denominator Weighted average common shares outstanding - basic 29,645,795 31,336,756 30,266,752 31,596,995 Dilutive effect of stock-based compensation awards 373,358 688,259 344,259 520,922 Weighted average common shares outstanding - diluted 30,019,153 32,025,015 30,611,011 32,117,917 Earnings per share: Basic $ 1.26 $ 2.65 $ 3.69 $ 7.31 Diluted $ 1.25 $ 2.59 $ 3.65 $ 7.19 Adjusted earnings per share Numerator Net income $ 37,403 $ 83,020 $ 111,641 $ 231,075 Income tax expense 10,435 26,892 35,798 73,789 Income before income tax expense 47,838 109,912 147,439 304,864 Inventory impairment 3,180 1,373 10,951 1,942 Abandonment of lot option contracts (1) 5,159 2,124 9,306 3,941 Restructuring costs — — 1,505 — Loss on debt extinguishment 1,361 — 1,361 — Impairment on other investment — — — 7,722 Purchase price accounting for acquired work in process inventory 2,830 3,446 6,763 5,999 Adjusted income before income tax expense 60,368 116,855 177,325 324,468 Adjusted income tax expense ( 2) (14,657) (28,283) (43,054) (78,534) Adjusted net income $ 45,711 $ 88,572 $ 134,271 $ 245,934 Denominator - Diluted 30,019,153 32,025,015 30,611,011 32,117,917 Adjusted diluted earnings per share $ 1.52 $ 2.77 $ 4.39 $ 7.66 (1) Beginning in the third quarter of 2025, we added “Abandonment of lot option contracts” as an adjustment in our non-GAAP adjusted net income calculation. Accordingly, we have recast the corresponding prior period information to conform to the current presentation and calculation. (2) The tax rates used in calculating adjusted net income for the three and nine months ended September 3 0 , 2025 were 2 4.3 %, respectively, which are reflective of our GAAP tax rates for the nine months ended September 30, 2025. The tax rates used in calculating adjusted net income for the three and nine months ended September 30, 2024 were 24. 2 %, respectively, which are reflective of our GAAP tax rates for the nine months ended September 30, 2024. 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) , 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 September 30, 2025 % 2024 % Home sales revenues $ 955,162 100.0 % $ 1,116,125 100.0 % Cost of home sales revenues (780,566) (81.7) % (873,081) (78.2) % Inventory impairment (3,180) (0.3) % (1,373) (0.1) % Homebuilding gross margin 171,416 17.9 % 241,671 21.7 % Add: Inventory impairment 3,180 0.3 % 1,373 0.1 % Adjusted homebuilding gross margin excluding inventory impairment 174,596 18.3 % 243,044 21.8 % Add: Interest in cost of home sales revenues 15,005 1.6 % 16,492 1.5 % Add: Purchase price accounting for acquired work in process inventory 2,830 0.3 % 3,446 0.3 % Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory $ 192,431 20.1 % $ 262,982 23.6 % Nine Months Ended September 30, 2025 % 2024 % Home sales revenues $ 2,815,365 100.0 % $ 3,055,941 100.0 % Cost of home sales revenues (2,285,233) (81.2) % (2,386,208) (78.1) % Inventory impairment (10,951) (0.4) % (1,942) (0.1) % Homebuilding gross margin 519,181 18.4 % 667,791 21.9 % Add: Inventory impairment 10,951 0.4 % 1,942 0.1 % Adjusted homebuilding gross margin excluding inventory impairment 530,132 18.8 % 669,733 21.9 % Add: Interest in cost of home sales revenues 41,994 1.5 % 42,117 1.4 % Add: Purchase price accounting for acquired work in process inventory 6,763 0.2 % 5,999 0.2 % Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory $ 578,889 20.6 % $ 717,849 23.5 % C entury Communities, Inc. Reconciliation of Non-GAAP Financial Measures (Unaudited) EBITDA and Adjusted EBITDA EBITDA and adjusted EBITDA are non-GAAP financial measures the Company use s as supplemental measure s in evaluating operating performance. The Company define s 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 define s adjusted EBITDA as EBITDA before inventory impairment, abandonment of lot option contract s , 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 believe s 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. Neither EBITDA n 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. The presentation of a djusted 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 September 30, Nine Months Ended September 30, 2025 2024 % Change 2025 2024 % Change Net income $ 37,403 $ 83,020 (54.9) % $ 111,641 $ 231,075 (51.7) % Income tax expense 10,435 26,892 (61.2) % 35,798 73,789 (51.5) % Interest in cost of home sales revenues 15,005 16,492 (9.0) % 41,994 42,117 (0.3) % Interest expense ( income ) 876 (369) (337.4) % 445 (2,693) (116.5) % Depreciation and amortization expense 6,005 6,272 (4.3) % 18,868 17,437 8.2 % EBITDA $ 69,724 $ 132,307 (47.3) % $ 208,746 $ 361,725 (42.3) % Inventory impairment 3,180 1,373 131.6 % 10,951 1,942 463.9 % Abandonment of lot option contracts (1) 5,159 2,124 142.9 % 9,306 3,941 136.1 % Restructuring costs — — NM 1,505 — NM Loss on debt extinguishment 1,361 — NM 1,361 — NM Impairment on other investment — — NM — 7,722 NM Purchase price accounting for acquired work in process inventory 2,830 3,446 (17.9) % 6,763 5,999 12.7 % Adjusted EBITDA $ 82,254 $ 139,250 (40.9) % $ 238,633 $ 381,329 (37.4) % (1) Beginning in the third quarter of 2025, we added “Abandonment of lot option contracts” as an adjustment in our non-GAAP adjusted EBITDA calculation. Accordingly, we have recast the corresponding prior period information 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) September 30, December 31, 2025 2024 Notes payable $ 1,147,370 $ 1,107,909 Revolving line of credit 339,000 135,500 Construction loan agreements (131,151) (102,436) Total homebuilding debt 1,355,219 1,140,973 Total stockholders' equity 2,578,022 2,620,856 Total capital $ 3,933,241 $ 3,761,829 Homebuilding debt to capital 34.5% 30.3% Total homebuilding debt $ 1,355,219 $ 1,140,973 Cash and cash equivalents (130,075) (149,998) Cash held in escrow (44,717) (3,004) Net homebuilding debt 1,180,427 987,971 Total stockholders' equity 2,578,022 2,620,856 Net capital $ 3,758,449 $ 3,608,827 Net homebuilding debt to net capital 31.4% 27.4% Contact Information: Tyler Langton, Senior Vice President of Investor Relations 303-268-8345 Investor R elations @CenturyCommunities.com Category: Earnings

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other guidance in this release

Text is the filed exhibit, verbatim.