- 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, Colo., April 22, 2026 /PRNewswire/ -- 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.
Consolidated Balance Sheets
(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)
