Century Communities (CCS) Q4 2025 earnings summary

Executive summary

• Delivered 10,792 residential units in 2025, exceeding guidance, with 3,030 new homes in Q4 and record net orders, reflecting pent-up demand for affordable homes.

• Achieved 23rd consecutive year of profitability, with a cycle-tested management team and a strategy focused on scalable, spec-home-driven growth.

• Operates in 16 states and over 45 markets, offering integrated mortgage, title, and insurance services.

• Reduced direct construction costs by $13,000 per home and cycle times by 13 days to a record 114 days, while maintaining high customer satisfaction and mortgage capture rates.

• Repurchased over 7% of shares outstanding and increased book value per share to a record $89.21.

Financial highlights

• Fiscal year 2025 revenues totaled $4.12 billion, with net income of $147.6 million ($4.86 per diluted share); adjusted net income was $181.7 million ($5.99 per diluted share).

• Q4 2025 net income was $36 million ($1.21 per diluted share); adjusted net income was $47.1 million ($1.59 per diluted share).

• Delivered 10,387 new homes in 2025 at an average sales price of $378,000, well below the national average.

• Homebuilding gross margin for 2025 was 17.6%; adjusted homebuilding gross margin was 19.9%.

• Financial services segment generated $86 million in revenue and $19 million in pretax income in 2025.

Outlook and guidance

• 2026 guidance: new home deliveries expected between 10,000 and 11,000; home sales revenues between $3.6 billion and $4.1 billion.

• Q1 2026 deliveries expected to be 2,100-2,300 homes, the low point for the year.

• Average community count for 2026 expected to increase low- to mid-single digits year-over-year.

• SG&A as a percent of home sales revenue expected at 14.5% in Q1 2026 and 13% for full year 2026.

• Existing lot supply and community count support a targeted 10% delivery growth in both 2026 and 2027, assuming improved market conditions.