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Century Communities, Inc. (CCS) is a Delaware corporation engaged in the development, design, construction, marketing, and sale of single-family attached and detached homes across the United States. Operating under the Century Communities and Century Complete brands, CCS focuses on providing affordable housing solutions tailored to entry-level, move-up, and lifestyle homebuyers. The company also offers financial services and multi-family rental property development.
- Mountain - Develops and sells single-family homes in Arizona, Colorado, Nevada, and Utah, catering to various homebuyer profiles.
- Century Complete - Targets entry-level homebuyers across multiple states, emphasizing affordability and streamlined purchasing through retail studios and online platforms.
- West - Builds and markets homes in California and Washington, focusing on diverse buyer needs.
- Southeast - Operates in Florida, Georgia, North Carolina, South Carolina, and Tennessee, offering homes for entry-level and move-up buyers.
- Texas - Constructs and sells homes in Texas, addressing the needs of entry-level and lifestyle buyers.
- Financial Services - Provides mortgage, title, insurance brokerage, and escrow services to homebuyers through subsidiaries.
- Century Living - Develops, constructs, and manages multi-family rental properties, currently located in Colorado.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Dale Francescon ExecutiveBoard | Executive Chairman | Dale Francescon has served as the Executive Chairman of CCS since January 2025. He co-founded CCS in August 2002 and held roles as Co-Chief Executive Officer until January 2025, as well as Chairman of the Board from April 2013 to January 2025. | ||
Robert J. Francescon ExecutiveBoard | Chief Executive Officer | Robert J. Francescon has been the Chief Executive Officer of Century Communities, Inc. since January 1, 2025. Previously, he served as Co-Chief Executive Officer from August 2002 to January 2025 and has held the roles of President and Board Member since April 2013. | View Report → | |
J. Scott Dixon Executive | Chief Financial Officer | J. Scott Dixon serves as the Chief Financial Officer of Century Communities, Inc. since July 22, 2024. He previously held roles as Interim Chief Financial Officer from March 2024, Assistant Chief Financial Officer from May 2022 to March 2024, Chief Accounting Officer from November 2016 to May 2022, and Vice President of Accounting from November 2013 to November 2016. |
- Given the expected Q1 2025 delivery decline due to seasonality while absorption remains flat compared to 2024, how will management mitigate potential margin compression and ensure profitability isn’t adversely affected?
- With incentives in the fourth quarter reaching around 900 basis points, what specific steps will management take to balance these elevated incentives against the risk of sustained margin erosion while maintaining sales pace?
- As full-year ASPs are projected to remain flat to slightly down for 2025, what measures are being considered to enhance revenue growth without compromising affordability, particularly in critically price-sensitive markets?
- Following the record community count and recent acquisitions, how does management plan to integrate these new entities and allocate capital efficiently to ensure that both organic and acquisitive growth strategies deliver the desired long-term shareholder value?
- With recent volatility in mortgage rates and related incentive adjustments, how confident is management in the current cost control strategies and liquidity position given the new credit facility increase and postponed senior debt maturities?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Anglia Homes | 2024 | Century Communities acquired Anglia Homes on July 31, 2024 for approximately $127.0 million in cash (including customary holdbacks). The deal involved acquiring 26 active communities in Greater Houston, significantly more than doubling their regional presence and aligning with a strategy of land-light expansion and capital-efficient finished lots. |
Landmark Homes of Tennessee | 2024 | Century Communities completed the acquisition of Landmark Homes of Tennessee on January 22, 2024 for about $33.4 million in cash, assuming substantial assets and certain liabilities, with the addition of six active communities in Nashville. This strategic move, which included the allocation of $1.7 million in goodwill, supports disciplined growth, market expansion in high-growth areas, and addresses affordable housing challenges. |
Recent press releases and 8-K filings for CCS.
- Q1 2025 Performance: Delivered 2,284 homes with net income of approximately $39M ($1.26/share) and adjusted net income around $42M.
- Revenue & Margins: Generated between $884M in home sales revenue and $903.2M in total revenues, with homebuilding gross margins ranging from 20% to 21.6%.
- Guidance Update: Expects Q2 2025 home deliveries of 2,300–2,500 homes and revised full‐year guidance of 10,400–11,000 deliveries with home sales revenues between $4.0–$4.2B.
- Operational Growth: Achieved a 26% YoY increase in community count to 318, a 5% growth in lot count to 79,014 lots, and secured 2,692 net new home contracts.
- Financial Performance: Increased book value per share by 11% YoY to $84.41, underpinning continued profitability.
- Capital Actions: Raised the quarterly dividend by 12% to $0.29/share and repurchased approximately 753K shares for ~$56M.
- Strategic Positioning: Operates in 17 states and over 45 markets with a land‐light, low‐risk model, maintaining 22 consecutive years of profitability and an increased senior unsecured credit facility to $1.0 billion.
- Century Communities Inc. declared a quarterly cash dividend of $0.29 per share, which is a 12% increase over the previous $0.26 per share.
- The dividend is scheduled to be paid on March 12, 2025 with stockholders of record as of February 26, 2025.
- Record Performance: Achieved a Q4 record of 3,198 home deliveries and a full-year record of 11,007 homes delivered, with community count rising to 322 (up 28% YoY) [0,1,2,3]
- Robust Financials: Reported Q4 net income of $102.7M (or $3.20 EPS diluted) with adjusted net income of $112.0M, and a record Q4 home sales revenue of $1.2B [0,4,5]
- Full-Year Growth: Generated total revenues of $4.4B, with net new home contracts up 21% YoY to 10,676 and book value per share rising 13% to $84.65 [0,1,2]
- 2025 Outlook & Guidance: Expects home deliveries between 11,700–12,400 and home sales revenues of $4.5–$4.8B, while targeting 10%+ annual delivery growth in 2025/2026, despite a seasonal Q1 decline supported by an absorption ratio of approximately 3.2x [0,1,6,7,8]
- Capital & Liquidity: Maintained a strong balance sheet with $2.6B equity, and saw the credit facility capacity raised to $900M, alongside executing significant share buybacks [0,1]
- Profitability Milestone: Achieved a full-year adjusted gross margin of 23.3% and marked 22 consecutive years of profitability
- Leadership Transition: Effective January 1, Dale Francescon transitioned to Executive Chairman while Rob assumed the role of Sole CEO