Century Communities reports Q3 adjusted EPS $2.72, consensus $2.56

Reports Q3 revenue $1.1B, consensus $1.1B. “We saw strong growth in our net new contracts and deliveries in the third quarter as demand for affordable new homes remains solid,” said co-CEO Dale Francescon. “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 Q3 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.” Co-CEO Rob Francescon 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.”