Century Communities (CCS) Q4 2025 earnings summary

Executive summary

• Delivered 10,792 residential units in 2025, including 10,387 new homes, exceeding guidance and reflecting strong operational results and pent-up demand for affordable homes.

• Achieved record net orders of 2,702 homes in Q4 2025, up 13% sequentially and 10% year-over-year.

• Reduced direct construction costs by $13,000 per home and cycle times by 13 days to a record 114 days.

• Repurchased over 7% of shares outstanding in 2025 and ended the year with record book value per share of $89.21.

• Operates as a national homebuilder in 16 states and over 45 markets, focusing on affordable new homes through two brands and integrated mortgage, title, and insurance services.

Financial highlights

• Fiscal year 2025 revenues totaled $4.12 billion, with net income of $147.6 million ($4.86 per diluted share); Q4 net income was $36 million ($1.21 per diluted share).

• Q4 2025 home sales revenue was $1.1 billion, up 16% sequentially; average sales price decreased 5% quarter-over-quarter to $367,000 due to higher incentives.

• Full year 2025 homebuilding gross margin 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.

• Generated $153 million in cash flow from operations in 2025 and maintained quarterly cash dividend of $0.29 per share.

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, likely the low point for the year.

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

• Guidance does not include potential upside from government support or improved market conditions.

• Targeting 10% delivery growth in both 2026 and 2027, assuming improved market conditions.