Thu, Jul 25, 10:02 AM (44 days ago)
Century Communities, Inc.'s Q2 2024 10-Q reveals strong financial performance with key metrics showing significant growth. Revenues for the quarter reached $1.04 billion, a 23.1% increase from Q2 2023, driven by higher home sales and increased average sales prices. Net income rose to $83.7 million, a 62.7% increase, translating to $2.61 per diluted share. Home deliveries increased by 17.1% to 2,617 units, with an average sales price of $388.8K. The company’s adjusted EBITDA surged by 63.2% to $130.6 million. Despite an increase in SG&A expenses, the homebuilding gross margin improved to 22.5% from 19.7%. The company remains well-positioned with $106.7 million in cash and a homebuilding debt to capital ratio of 31.1%.