Century Communities (CCS) Q2 2025 earnings summary

Executive summary

• Delivered 2,587 homes in Q2 2025, up 13% sequentially, generating $1.0 billion in revenue, despite elevated mortgage rates and affordability constraints.

• Net income for Q2 2025 was $34.9 million ($1.14 per diluted share); adjusted net income was $42.1 million ($1.37 per diluted share).

• Community count reached a record 327, up 23% year-over-year, with all net growth in June.

• Maintained 22 consecutive years of profitability and steady dividend growth, recognized as a top workplace.

• Repurchased 883,602 shares (~3% of shares outstanding) for $48 million in Q2, totaling $104 million YTD.

Financial highlights

• Q2 2025 total revenues were $1.0 billion; home sales revenue was $976.5 million.

• Adjusted homebuilding gross margin was 20.0%; homebuilding gross margin was 17.6%.

• Adjusted EBITDA was $75.9 million; EBITDA was $66.5 million.

• SG&A as a percent of home sales revenue was 13.2% in Q2.

• Book value per share reached a record $86.39, up 10% year-over-year.

Outlook and guidance

• Full-year 2025 home delivery guidance revised to 10,000–10,500 homes; home sales revenue guidance set at $3.8–$4.0 billion.

• Q3 2025 deliveries expected to be 2,300–2,500 homes, reflecting seasonal slowdown.

• Homebuilding gross margin expected to decline by up to 100 basis points sequentially in Q3 due to higher incentives.

• SG&A as a percent of home sales revenue expected to be 14% in Q3 and about 13% for the full year.

• Year-end 2025 community count expected to increase mid-single digits, supporting future growth.