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Century Communities — Apr 22, 2026 release

Fiscal 2026 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001576940-26-000024
Open on SEC.gov ↗
Showing in the filing
Quarterly cash dividend
“$0.32 per share”
Period
No period stated
Measure
Declared action
Source
Prose
All guidance in this release · 3
Quarterly cash dividend
“$0.32 per share”
Home delivery for FY2026
“9,500 to 10,500 homes”
Home sales revenues for FY2026
“$3.5 billion to $3.8 billion”
Exhibit 99.1 · full document
CCS 03.31.26 Earnings Release 8-K Exhibit 99.1  Century Communities Reports First Quarter 2026 Results  - Deliveries of 2,013 Homes Generating $789.7 Million in Total Revenues - - Net New Home Contracts of 2,379 - - Ending Community Count Increased Sequentially to 316 - - Net Income of $24.4 Million, or $0.84 Per Diluted Share - - Adjusted Net Income of $25.6 Million, or $0.88 Per Diluted Share - - Increased Quarterly Cash Dividend 10% to $0.32 Per Share -  Greenwood Village, Colorado (April 22 , 2026 ) – Century Communities, Inc. (NYSE: CCS), one of the nation’s largest homebuilders , today announced financial results for its first quarter ended March 31, 2026.  First Quarter 2026 Highlights · Net income of $24.4 million, or $0.84 per diluted share · Adjusted net income of $25.6 million, or $0.88 per diluted share · Total revenues of $789.7 million · Community count of 316 · Deliveries of 2,013 homes · Net new home contracts of 2,379 · Homebuilding gross margin of 17.8% · Adjusted homebuilding gross margin of 19.7% · Repurchased 617,087 shares of common stock for $40.0 million “We performed well in the first quarter given continued market pressures which intensified even further beginning in early March,” said Dale Francescon, Executive Chairman. “While demand at the start of the quarter was roughly in line with year-ago levels, higher interest rates, gas prices, and increased weakness in consumer sentiment weighed on order activity most meaningfully in March, which typically represents the highest sales month of the quarter. Despite these headwinds, our traffic and net sales increased sequentially throughout the quarter, and our first quarter cancellation rate was below the levels we experienced throughout most of 2025, demonstrating the commitment of buyers once they have made the decision to purchase a home.” Rob Francescon, Chief Executive Officer and President, said, “Our adjusted homebuilding gross margin of 19.7% increased by 140 basis points on a sequential basis, benefitting from lower incentives and direct costs, and we decreased our finished specs at the end of the first quarter by 16% sequentially and 31% versus the prior-year quarter. Our balance sheet remains strong with $2.6 billion of stockholders’ equity and $886 million of liquidity, and we repurchased 617,087 shares of our common stock for $40.0 million and increased our quarterly cash dividend by 10% to $0.32 per share while continuing to position Century for future growth.” First Quarter 2026 Results Net income for the first quarter 2026 was $24.4 million, or $0.84 per diluted share. Adjusted net income was $ 25.6 million, or $0.88 per diluted share. Total revenues were $789.7 million, with first quarter home sales revenues totaling $734.1 million. Deliveries totaled 2,013 homes. The average sales price of home deliveries for the first quarter 2026 was $364,700 . Net new home contracts in the first quarter 2026 were 2,379, and at the end of the first quarter 2026 , the Company had 1,155   homes in backlog, representing $438.5 million of backlog dollar value.   Adjusted homebuilding gross margin percentage, excluding interest, inventory impairment and purchase price accounting, was 19.7% in the first quarter of 2026, and homebuilding gross margin was 17.8%. Selling, general, and administrative expenses as a percent of home sales revenues was 15.8% in the quarter . Adjusted EBITDA and EBITDA for the first quarter 2026 were $55.4 million and $52.0 million, respectively. Financial services revenues and pre-tax income were $22.4 million and $7.6 million, respectively, in the first quarter 2026. Balance Sheet and Liquidity The Company ended the first quarter 2026 with a strong financial position, including $2.6 billion of stockholders’ equity and $886.1 million of total liquidity, including $89.8 million of cash. Book value per share was $88.75 as of March 31, 2026. During the first quarter, consistent with our disciplined capital allocation approach to enhance the long-term value of the Company and return capital to our shareholders, we increased our quarterly cash dividend by 10% to $0.32 per share and repurchased 617,087 shares of common stock for $40.0 million. As of March 31, 2026, homebuilding debt to capital equaled 32.2% and net homebuilding debt to net capital equaled 30.5% . Full Year 2026 Outlook Scott Dixon, Chief Financial Officer of the Company, commented, “Given the impact of the conflict in the Middle East as well as higher gas prices and interest rates on our order activity, we are reducing our full year 2026 home delivery guidance to be in the range of 9,500 to 10,500 homes and our home sales revenues to be in the range of $3.5 billion to $3.8 billion .” Webcast and Conference Call The Company will host a webcast and conference call on Wednesday, April 22, 2026, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, to review the Company’s first quarter 2026 results, provide commentary, and conduct a question-and-answer session. To participate in the call, please dial 800-549-8228 (domestic) or 646-564-2877 (international) and enter the conference ID 56727. The live webcast will be available at www.centurycommunities.com in the Investors section. A replay of the conference call will be available through April 29, 2026, by dialing 888-660-6264 (domestic) or 646-517-3975 (international) and entering conference ID 56727. A replay of the webcast will be available on the Company’s website for at least one year. About Century Communities Century Communities, Inc. (NYSE: CCS) is one of the nation’s largest homebuilders and a recognized industry leader in online home sales.  Newsweek  has named the Company one of America's Most Trustworthy Companies for three consecutive years, and Century Communities has also been designated as one of  U.S. News & World Report’s  Best Companies to Work For (2025-2026).   Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit  www.centurycommunities.com .   Non-GAAP Financial Measures In addition to the Company’s operating results presented in accordance with United States generally accepted accounting principles (GAAP), this press release includes the following non-GAAP financial measures: adjusted net income, adjusted diluted earnings per share, adjusted homebuilding gross margin, EBITDA, adjusted EBITDA, and ratio of net homebuilding debt to net capital. These non-GAAP financial measures should not be used as a substitute for the Company’s operating results presented in accordance with GAAP, and an analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP. Please refer to the reconciliation of each of the above referenced non-GAAP financial measures following the historical financial information presented in this press release. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “continue,” “will,” “may,” “should,” “potential,” “guidance” and “outlook” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include the Company’s operating and financial guidance for 2026, including anticipated home deliveries and home sales revenues. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. The following important factors could cause actual results to differ materially from those expressed in the forward-looking statements: changes in general economic conditions, including interest rates, inflation, and employment levels; consumer confidence and affordability concerns; the impact of geopolitical conflicts including in the Middle East, tariffs and increased costs, immigration reform and enforcement, global supply chain disruptions, labor, land and raw material or other resource shortages and delays, and municipal and utility delays on the Company’s business, industry and the broader economy; the availability and cost of financing; home incentive levels; the ability to identify and acquire desirable land and dispose of land when appropriate; availability and pricing for land, labor and raw materials and other resources; reliance on contractors and key personnel; the effect of competition; risks associated with the Company’s mortgage lending and multi-family rental businesses; future impairment and restructuring charges; the effect of tax changes; and the other factors included in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Report on Form 10-Q. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law.    Century Communities, Inc. Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share amounts)                     Three Months Ended March 31,    2026   2025 Revenues             Homebuilding Revenues             Home sales revenues   $ 734,106    $ 883,736  Land sales and other revenues     33,171      962  Total homebuilding revenues     767,277      884,698  Financial services revenues     22,396      18,534  Total revenues     789,673      903,232  Homebuilding Cost of Revenues             Cost of home sales revenues     (603,291)     (707,915) Cost of land sales and other revenues     (22,571)     (827) Total homebuilding cost of revenues     (625,862)     (708,742) Financial services costs     (14,751)     (16,174) Selling, general, and administrative expense     (116,082)     (120,760) Other income (expense) , net     353      (5,038) Income before income tax expense     33,331      52,518  Income tax expense     (8,922)     (13,134) Net income   $ 24,409    $ 39,384               Earnings per share:             Basic   $ 0.84    $ 1.28  Diluted   $ 0.84    $ 1.26  Weighted average common shares outstanding:             Basic     29,189,596      30,801,046  Diluted     29,217,503      31,145,867      Century Communities, Inc. C onsolidated Balance Sheet s (Unaudited) (in thousands, except share amounts)                                 March 31,   December 31,    2026   2025 Assets   (unaudited)   (audited) Cash and cash equivalents   $ 78,182    $ 109,443  Cash held in escrow     11,621      48,571  Accounts receivable     55,728      57,242  Inventories     3,525,742      3,361,158  Mortgage loans held for sale     213,947      299,145  Prepaid expenses and other assets     475,283      435,683  Property and equipment, net     70,822      69,368  Deferred tax assets, net     37,351      38,176  Goodwill     41,109      41,109  Total assets   $ 4,509,785    $ 4,459,895  Liabilities and stockholders' equity             Liabilities:             Accounts payable   $ 152,195    $ 114,416  Accrued expenses and other liabilities     276,770      310,602  Notes payable     1,112,751      1,102,376  Revolving line of credit     203,700      51,500  Mortgage repurchase facilities     211,170      289,269  Total liabilities     1,956,586      1,868,163  Stockholders' equity:             Preferred stock, $0.01 par value, 50,000,000 shares authorized, none outstanding      —      — Common stock, $0.01 par value, 100,000,000 shares authorized, 28,769,233 and 29,050,515 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively     288      291  Additional paid-in capital     332,425      385,962  Retained earnings     2,220,486      2,205,479  Total stockholders' equity     2,553,199      2,591,732  Total liabilities and stockholders' equity   $ 4,509,785    $ 4,459,895        Century Communities, Inc. Homebuilding Operational Data (Unaudited)  Net New Home Contracts                       Three Months Ended March 31,    2026     2025     % Change West   336      392      (14.3) % Mountain   426      462      (7.8) % Texas   473      499      (5.2) % Southeast   359      387      (7.2) % Century Complete   785      952      (17.5) % Total   2,379      2,692      (11.6) %  New Home Deliveries    (dollars in thousands)                                     Three Months Ended March 31,                2026   2025   % Change      Homes   Average Sales Price   Homes   Average Sales Price   Homes   Average Sales Price West   277    $ 568.6    303    $ 599.5    (8.6) %   (5.2) % Mountain   344      465.6    429      524.1    (19.8) %   (11.2) % Texas   371      284.7    457      298.9    (18.8) %   (4.8) % Southeast   315      393.9    303      443.5    4.0  %   (11.2) % Century Complete   706      264.5    792      260.4    (10.9) %   1.6  % Total / Weighted Average   2,013    $ 364.7    2,284    $ 386.9    (11.9) %   (5.7) %                                        Century Communities, Inc. Homebuilding Operational Data (Unaudited)   Selling Communities                                               As of March 31,     Increase/Decrease    2026   2025     Amount   % Change West   40    34      6    17.6  % Mountain   55    48      7    14.6  % Texas   82    78      4    5.1  % Southeast   31    42      (11)   (26.2) % Century Complete   108    116      (8)   (6.9) % Total   316    318      (2)   (0.6) %  Backlog  (dollars in thousands)                                                                                                          As of March 31,                      2026   2025   % Change      Homes   Dollar Value   Average Sales Price   Homes   Dollar Value   Average Sales Price   Homes   Dollar Value   Average Sales Price West   178    $ 105,463    $ 592.5    248    $ 158,029    $ 637.2    (28.2) %   (33.3) %   (7.0) % Mountain   190      103,890      546.8    182      102,309      562.1    4.4  %   1.5  %   (2.7) % Texas   238      69,227      290.9    219      65,973      301.2    8.7  %   4.9  %   (3.4) % Southeast   144      58,671      407.4    191      87,755      459.5    (24.6) %   (33.1) %   (11.3) % Century Complete   405      101,208      249.9    418      106,984      255.9    (3.1) %   (5.4) %   (2.4) % Total / Weighted Average   1,155    $ 438,459    $ 379.6    1,258    $ 521,050    $ 414.2    (8.2) %   (15.9) %   (8.4) %  Lot Inventory                                                                                                                   As of March 31,                      2026   2025   % Change                       Owned   Controlled   Total   Owned   Controlled   Total     Owned   Controlled   Total                                                        West   3,517      2,524      6,041      3,946      4,258      8,204      (10.9) %   (40.7) %   (26.4) % Mountain   7,813      2,018      9,831      9,180      3,168      12,348      (14.9) %   (36.3) %   (20.4) % Texas   14,148      2,943      17,091      12,942      9,539      22,481      9.3  %   (69.1) %   (24.0) % Southeast   4,850      5,526      10,376      5,174      11,435      16,609      (6.3) %   (51.7) %   (37.5) % Century Complete   4,025      11,173      15,198      4,655      14,717      19,372      (13.5) %   (24.1) %   (21.5) % Total   34,353      24,184      58,537      35,897      43,117      79,014      (4.3) %   (43.9) %   (25.9) % % of Total   58.7%      41.3%      100.0%      45.4%      54.6%      100.0%                            Century Communities, Inc. Reconciliation of Non-GAAP Financial Measures (Unaudited)   Adjusted net income and adjusted diluted earnings per share (“Adjusted EPS”) are non-GAAP financial measures that the Company 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 March 31,    2026   2025 Numerator             Net income   $ 24,409    $ 39,384  Denominator             Weighted average common shares outstanding - basic     29,189,596      30,801,046  Dilutive effect of stock-based compensation awards     27,907      344,821  Weighted average common shares outstanding - diluted     29,217,503      31,145,867  Earnings per share:             Basic   $ 0.84    $ 1.28  Diluted   $ 0.84    $ 1.26               Adjusted earnings per share             Numerator             Net income   $ 24,409    $ 39,384  Income tax expense     8,922      13,134  Income before income tax expense     33,331      52,518  Inventory impairment      —     411  Abandonment of lot option contracts (1)     954      1,506  Restructuring costs      —     1,505  Purchase price accounting for acquired work in process inventory     688      1,892  Adjusted income before income tax expense     34,973      57,832  Adjusted income tax expense (2)     (9,362)     (14,463) Adjusted net income   $ 25,611    $ 43,369               Denominator - Diluted     29,217,503      31,145,867               Adjusted diluted earnings per share   $ 0.88    $ 1.39   (1) Beginning in the third quarter of 2025, the Company added “Abandonment of lot option contracts” as an adjustment in its non-GAAP adjusted net income calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.  (2) The tax rates used in calculating adjusted net income for the three months ended March 31, 202 6 and 202 5 were 2 6.8 % and 2 5 . 0 %, respectively, which reflect our 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) , is not a   measurement of financial performance under GAAP ; however, the Company’s management believes that this information is meaningful as it isolates the impact that inventory impairment ,   indebtedness , and acquisitions have on homebuilding gross margin and permits the Company’s stockholders to make better comparisons with the Company’s competitors, who adjust gross margins in a similar fashion.  This non-GAAP financial measure should not be used as a substitute for the Company’s GAAP operating results.  An analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP .  Adjusted Homebuilding Gross Margin (in thousands)                                                       Three Months Ended March 31,    2026   %     2025   %   Home sales revenues   $ 734,106    100.0  %   $ 883,736    100.0  % Cost of home sales revenues   (1)     (603,291)   (82.2) %     (707,915)   (80.1) % Homebuilding gross margin     130,815    17.8  %     175,821    19.9  % Add: Inventory impairment      —   0.0  %     411    0.0  % Adjusted homebuilding gross margin excluding inventory impairment     130,815    17.8  %     176,232    19.9  % Add: Interest in cost of home sales revenues     13,170    1.8  %     12,785    1.4  % Add: Purchase price accounting for acquired work in process inventory     688    0.1  %     1,892    0.2  % Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory   $ 144,673    19.7  %   $ 190,909    21.6  %  (1) Beginning in the fourth quarter of 2025, inventory impairment was reclassified to be included in cost of home sales revenues in the Company’s consolidated statements of operations rather than presented as a separate line item and prior year amounts have been reclassified to conform to this presentation.    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 ,   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 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. 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 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 March 31,    2026   2025   % Change Net income   $ 24,409    $ 39,384      (38.0) % Income tax expense     8,922      13,134      (32.1) % Interest in cost of home sales revenues     13,170      12,785      3.0  % Interest expense (income)     169      798      (78.8) % Depreciation and amortization expense     5,352      6,428      (16.7) % EBITDA   $ 52,022    $ 72,529      (28.3) % Inventory impairment      —     411      (100.0) % Abandonment of lot option contracts (1)     954      1,506      (36.7) % Stock-based compensation expense (2)     1,780      292      509.6  % Restructuring costs      —     1,505      (100.0) % Purchase price accounting for acquired work in process inventory     688      1,892      (63.6) % Adjusted EBITDA   $ 55,444    $ 78,135      (29.0) %  (1) Beginning in the third quarter of 2025, the Company added “Abandonment of lot option contracts” as an adjustment in its non-GAAP adjusted EBITDA calculation. Accordingly,   the corresponding prior period information has been recast to conform to the current presentation and calculation.  (2) Beginning in the fourth quarter of 2025, the Company added “ Stock-based compensation expense ” as an adjustment in its non-GAAP adjusted EBITDA calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.     Century Communities, Inc. Reconciliation of Non-GAAP Financial Measures (Unaudited)  Ratio of Net Homebuilding Debt to Net Capital The following table presents the Company’s ratio of net homebuilding debt to net capital, which is a non-GAAP financial measure.  The Company calculates this by dividing net homebuilding debt ( homebuilding debt less   cash and cash equivalents , and cash held in escrow ) by net capital (net homebuilding debt plus total stockholders’ equity). Homebuilding debt is total debt minus outstanding borrowings under construction loan agreement and   mortgage repurchase facilities. The most directly comparable GAAP measure is the ratio of homebuilding debt to capital. The Company believes the ratio of net homebuilding debt to net capital is a relevant and useful financial measure to investors in understanding the leverage employed in its operations and as an indicator of the Company’s ability to obtain external financing .   (in thousands)                   March 31,   December 31,    2026   2025 Notes payable   $ 1,112,751    $ 1,102,376  Revolving line of credit     203,700      51,500  Construction loan agreements     (104,838)     (90,269) Total homebuilding debt     1,211,613      1,063,607  Total stockholders' equity     2,553,199      2,591,732  Total capital   $ 3,764,812    $ 3,655,339  Homebuilding debt to capital     32.2%      29.1%               Total homebuilding debt   $ 1,211,613    $ 1,063,607  Cash and cash equivalents     (78,182)     (109,443) Cash held in escrow     (11,621)     (48,571) Net homebuilding debt     1,121,810      905,593  Total stockholders' equity     2,553,199      2,591,732  Net capital   $ 3,675,009    $ 3,497,325               Net homebuilding debt to net capital     30.5%      25.9%    Contact Information: Tyler Langton, Senior Vice President of Investor Relations and Finance 303-268-8345 Investor R elations @CenturyCommunities.com  Category:   Earnings  
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other guidance in this release
Text is the filed exhibit, verbatim.