Form 8-K

8-K — Century Communities, Inc.

Accession: 0001576940-26-000055

Filed: 2026-07-22

Period: 2026-07-22

CIK: 0001576940

SIC: 1531 (OPERATIVE BUILDERS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ccs-20260722x8k.htm (Primary)

EX-99.1 (ccs-20260722xex99_1.htm)

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8-K

8-K (Primary)

Filename: ccs-20260722x8k.htm · Sequence: 1

ccs-20260722x8k

false000157694000015769402026-07-222026-07-22

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

____________________

FORM 8-K

____________________

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 22, 2026

____________________

CENTURY COMMUNITIES, INC.

(Exact name of registrant as specified in its charter)

____________________

Delaware

001-36491

68-0521411

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification Number)

8390 East Crescent Parkway, Suite 650

‎Greenwood Village, Colorado

80111

(Address of principal executive offices)

(Zip Code)

(303) 770-8300

(Registrant’s telephone number, including area code)

Not Applicable

(Former name of former address, if changed since last report.)

____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

CCS

New York Stock Exchange

__________________________

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933, as amended, or Rule 12b-2 of the Securities Exchange Act of 1934, as amended.

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition

On July 22, 2026, Century Communities, Inc. (the “Company”) issued a press release announcing its results of operations and financial condition as of and for the three and six months ended June 30, 2026. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Current Report on Form 8-K (including Exhibit 99.1) is being “furnished” in accordance with General Instruction B.2 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be incorporated by reference into any registration statement or any other document filed pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such filing.

As discussed therein, the press release furnished as Exhibit 99.1 to this Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act and, as such, may involve known and unknown risks, uncertainties and assumptions. These forward-looking statements relate to the Company’s current expectations and are subject to the limitations and qualifications set forth in the press release as well as in the Company’s other documents filed with the U.S. Securities and Exchange Commission, including, without limitation, that actual events and/or results may differ materially from those projected in such forward-looking statements.

Item 9.01. Financial Statements and Exhibits

(d)Exhibits.

Exhibit Number

Description

99.1

Press release, dated July 22, 2026, announcing Century Communities, Inc.’s results of operations and financial condition as of and for the three and six months ended June 30, 2026.

104

The cover page from this current report on Form 8-K, formatted in Inline XBRL.

‎

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 22, 2026

CENTURY COMMUNITIES, INC.

By:

/s/ J. Scott Dixon

J. Scott Dixon

Chief Financial Officer

EX-99.1

Filename: ccs-20260722xex99_1.htm · Sequence: 2

CCS 06.30.26 Earnings Release 8-K Exhibit 99.1

Century Communities Reports Second Quarter 2026 Results

- Deliveries of 2,506 Homes Generating $927.2 Million in Total Revenues -

- Net New Home Contracts of 2,615 -

- Ending Community Count Increased Sequentially to 330, a Company Record -

- Net Income of $36.1 Million, or $1.26 Per Diluted Share -

- Book Value Per Share of $90.24, a Company Record -

Greenwood Village, Colorado (July 22, 2026) – Century Communities, Inc. (NYSE: CCS), one of the nation’s largest homebuilders, today announced financial results for its second quarter ended June 30, 2026.

Second Quarter 2026 Highlights

Net income of $36.1 million, or $1.26 per diluted share

Adjusted net income of $37.3 million, or $1.30 per diluted share

Total revenues of $927.2 million

Community count of 330, a Company record

Deliveries of 2,506 homes

Net new home contracts of 2,615

Homebuilding gross margin of 18.1%

Adjusted homebuilding gross margin of 20.0%

Repurchased 352,811 shares of common stock for $19.6 million

“We delivered strong second quarter results despite continued headwinds from macro challenges and weak consumer sentiment, with earnings per diluted share of $1.26 increasing by 11% on a year-over-year basis and 50% sequentially,” said Dale Francescon, Executive Chairman. “We continued to invest in our business and ended the quarter with 330 open communities, a Company record. Our balance sheet remains strong with $2.6 billion of stockholders’ equity and $802 million of liquidity, and we repurchased 352,811 shares of our common stock for $19.6 million at a 38% discount to our Company record book value per share of $90.24 while maintaining our quarterly cash dividend of $0.32 per share and continuing to position Century for future growth.”

Rob Francescon, Chief Executive Officer and President, said, “Our deliveries of 2,506 homes grew by 25% on a sequential basis and exceeded our guidance on stronger order activity, with our net orders of 2,615 homes increasing by 3% on a year-over-year basis and 10% sequentially. Our net orders were relatively stable throughout the quarter, with our traffic posting a sequential gain of 9% in the second quarter. Our adjusted homebuilding gross margin of 20.0% increased by 30 basis points on a sequential basis, benefitting from lower incentives and direct costs as we controlled our costs and inventory levels.”

Second Quarter 2026 Results

Net income for the second quarter 2026 was $36.1 million, or $1.26 per diluted share. Adjusted net income was $37.3 million, or $1.30 per diluted share.

Total revenues were $927.2 million, with second quarter home sales revenues totaling $897.5 million. Deliveries totaled 2,506 homes. The average sales price of home deliveries for the second quarter 2026 was $358,200.

Net new home contracts in the second quarter 2026 were 2,615, and at the end of the second quarter 2026, the Company had 1,264 homes in backlog, representing $469.3 million of backlog dollar value.

Adjusted homebuilding gross margin percentage, excluding interest and purchase price accounting, was 20.0% in the second quarter of 2026, and homebuilding gross margin was 18.1%. Selling, general, and administrative expenses as a percent of home sales revenues was 14.2% in the quarter. Adjusted EBITDA and EBITDA for the second quarter 2026 were $78.2 million and $71.0 million, respectively.

Financial services revenues and pre-tax income were $25.4 million and $9.9 million, respectively, in the second quarter 2026.

Balance Sheet and Liquidity

The Company ended the second quarter 2026 with a strong financial position, including $2.6 billion of stockholders’ equity and $802.4 million of total liquidity, including $132.0 million of cash, including cash equivalents and cash held in escrow.

Book value per share was $90.24, a Company record, as of June 30, 2026.

During the second quarter, consistent with Century’s disciplined capital allocation approach to enhance the long-term value of the Company and return capital to our stockholders, Century maintained its quarterly cash dividend of $0.32 per share and repurchased 352,811 shares of common stock for $19.6 million.

As of June 30, 2026, homebuilding debt to capital equaled 34.2% and net homebuilding debt to net capital equaled 31.9%.

Full Year 2026 Outlook

Scott Dixon, Chief Financial Officer of the Company, commented, “We are raising the midpoint and low end of our full year 2026 home delivery guidance to be in the range of 9,750 to 10,500 homes, with our home sales revenues expected to be in the range of $3.5 billion to $3.8 billion.”

Webcast and Conference Call

The Company will host a webcast and conference call on Wednesday, July 22, 2026, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, to review the Company’s second quarter 2026 results, provide commentary, and conduct a question-and-answer session. To participate in the call, please dial 833-461-5787 (domestic) or 585-542-9983 (international) and enter the conference ID 338 306 020. The live webcast will be available at www.centurycommunities.com in the Investors section. A replay of the webcast will be available on the Company’s website for at least one year.

About Century Communities

Century Communities, Inc. (NYSE: CCS) is one of the nation’s largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America's Most Trustworthy Companies for three consecutive years, and Century Communities has also been designated as one of U.S. News & World Report’s Best Companies to Work For (2025-2026). Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.

Non-GAAP Financial Measures

In addition to the Company’s operating results presented in accordance with United States generally accepted accounting principles (GAAP), this press release includes the following non-GAAP financial measures: adjusted net income, adjusted diluted earnings per share, adjusted homebuilding gross margin, EBITDA, adjusted EBITDA, and ratio of net homebuilding debt to net capital. These non-GAAP financial measures should not be used as a substitute for the Company’s operating results presented in accordance with GAAP, and an analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP. Please refer to the reconciliation of each of the above referenced non-GAAP financial measures following the historical financial information presented in this press release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “continue,” “will,” “may,” “should,” “potential,” “guidance” and “outlook” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include the Company’s operating and financial guidance for 2026, including anticipated home deliveries and home sales revenues. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. The following important factors could cause actual results to differ materially from those expressed in the forward-looking statements: changes in general economic conditions, including interest rates, inflation, and employment levels; consumer confidence and affordability concerns; the impact of geopolitical conflicts including in the Middle East, tariffs and increased costs, immigration reform and enforcement, global supply chain disruptions, labor, land and raw material or other resource shortages and delays, and municipal and utility delays on the Company’s business, industry and the broader economy; the availability and cost of financing; home incentive levels; the ability to identify and acquire desirable land and dispose of land when appropriate; availability and pricing for land, labor and raw materials and other resources; reliance on contractors and key personnel; the effect of competition; risks associated with the Company’s mortgage lending business and increased use of adjustable-rate mortgages; risks associated with the Company’s multi-family rental businesses; future impairment and restructuring charges; the effect of tax changes; the effect of recent federal housing legislation; and the other factors included in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law.

Century Communities, Inc.

Consolidated Statements of Operations

(Unaudited)

(in thousands, except share and per share amounts)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Revenues

Homebuilding Revenues

Home sales revenues

897,528

976,467

1,631,634

1,860,204

Land sales and other revenues

4,255

483

37,426

1,445

Total homebuilding revenues

901,783

976,950

1,669,060

1,861,649

Financial services revenues

25,444

23,774

47,840

42,308

Total revenues

927,227

1,000,724

1,716,900

1,903,957

Homebuilding Cost of Revenues

Cost of home sales revenues

(735,368)

(804,522)

(1,338,659)

(1,512,437)

Cost of land sales and other revenues

(1,678)

(69)

(24,249)

(897)

Total homebuilding cost of revenues

(737,046)

(804,591)

(1,362,908)

(1,513,334)

Financial services costs

(15,548)

(17,550)

(30,299)

(33,724)

Selling, general, and administrative expense

(127,416)

(128,837)

(243,498)

(249,596)

Other income (expense), net

1,851

(2,663)

2,204

(7,702)

Income before income tax expense

49,068

47,083

82,399

99,601

Income tax expense

(12,920)

(12,229)

(21,842)

(25,363)

Net income

36,148

34,854

60,557

74,238

Earnings per share:

Basic

1.26

1.15

2.09

2.43

Diluted

1.26

1.14

2.09

2.40

Weighted average common shares outstanding:

Basic

28,637,901

30,366,109

28,912,225

30,582,376

Diluted

28,653,398

30,680,708

28,933,927

30,912,086

Century Communities, Inc.

Consolidated Balance Sheets

(in thousands, except share amounts)

June 30,

December 31,

2026

2025

Assets

(unaudited)

(audited)

Cash and cash equivalents

92,334

109,443

Cash held in escrow

39,709

48,571

Accounts receivable

64,824

57,242

Inventories

3,598,982

3,361,158

Mortgage loans held for sale

233,347

299,145

Prepaid expenses and other assets

511,559

435,683

Property and equipment, net

73,090

69,368

Deferred tax assets, net

36,317

38,176

Goodwill

41,109

Total assets

4,691,271

4,459,895

Liabilities and stockholders' equity

Liabilities:

Accounts payable

151,298

114,416

Accrued expenses and other liabilities

290,348

310,602

Notes payable

1,121,745

1,102,376

Revolving line of credit

329,600

51,500

Mortgage repurchase facilities

232,529

289,269

Total liabilities

2,125,520

1,868,163

Stockholders' equity:

Preferred stock, $0.01 par value, 50,000,000 shares authorized, none outstanding

—

Common stock, $0.01 par value, 100,000,000 shares authorized, 28,432,620 and 29,050,515 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively

284

291

Additional paid-in capital

318,276

385,962

Retained earnings

2,247,191

2,205,479

Total stockholders' equity

2,565,751

2,591,732

Total liabilities and stockholders' equity

4,691,271

4,459,895

Century Communities, Inc.

Homebuilding Operational Data

(Unaudited)

Net New Home Contracts

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

% Change

2026

2025

% Change

West

309

323

(4.3)

645

715

(9.8)

Mountain

440

336

31.0

866

798

8.5

Texas

568

504

12.7

1,041

1,003

3.8

Southeast

386

384

0.5

745

771

(3.4)

Century Complete

912

999

(8.7)

1,697

1,951

(13.0)

Total

2,615

2,546

2.7

4,994

5,238

(4.7)

New Home Deliveries

(dollars in thousands)

Three Months Ended June 30,

2026

2025

% Change

Homes

Average Sales Price

Homes

Average Sales Price

Homes

Average Sales Price

West

322

568.9

335

602.5

(3.9)

(5.6)

Mountain

416

476.5

396

521.0

5.1

(8.5)

Texas

527

290.8

501

294.2

5.2

(1.2)

Southeast

362

383.2

401

429.9

(9.7)

(10.9)

Century Complete

879

255.1

954

260.5

(7.9)

(2.1)

Total / Weighted Average

2,506

358.2

2,587

377.5

(3.1)

(5.1)

Six Months Ended June 30,

2026

2025

% Change

Homes

Average Sales Price

Homes

Average Sales Price

Homes

Average Sales Price

West

599

568.8

638

601.0

(6.1)

(5.4)

Mountain

760

471.5

825

522.6

(7.9)

(9.8)

Texas

898

288.3

958

296.5

(6.3)

(2.8)

Southeast

677

388.2

704

435.7

(3.8)

(10.9)

Century Complete

1,585

259.3

1,746

260.5

(9.2)

(0.5)

Total / Weighted Average

4,519

361.1

4,871

381.9

(7.2)

(5.4)

Century Communities, Inc.

Homebuilding Operational Data

(Unaudited)

Selling Communities

As of June 30,

Increase/Decrease

2026

2025

Amount

% Change

West

11.1

Mountain

3.9

Texas

18.7

Southeast

(7)

(16.3)

Century Complete

112

122

(10)

(8.2)

Total

330

327

0.9

Backlog

(dollars in thousands)

As of June 30,

2026

2025

% Change

Homes

Dollar Value

Average Sales Price

Homes

Dollar Value

Average Sales Price

Homes

Dollar Value

Average Sales Price

West

165

94,173

570.7

236

142,012

601.7

(30.1)

(33.7)

(5.2)

Mountain

214

110,273

515.3

122

66,572

545.7

75.4

65.6

(5.6)

Texas

279

83,386

298.9

222

67,939

306.0

25.7

22.7

(2.3)

Southeast

168

71,714

426.9

174

75,720

435.2

(3.4)

(5.3)

(1.9)

Century Complete

438

109,726

250.5

463

113,747

245.7

(5.4)

(3.5)

2.0

Total / Weighted Average

1,264

469,272

371.3

1,217

465,990

382.9

3.9

0.7

(3.0)

Lot Inventory

As of June 30,

2026

2025

% Change

Owned

Controlled

Total

Owned

Controlled

Total

Owned

Controlled

Total

West

3,546

2,488

6,034

3,948

3,097

7,045

(10.2)

(19.7)

(14.4)

Mountain

7,491

2,203

9,694

8,905

1,344

10,249

(15.9)

63.9

(5.4)

Texas

13,725

2,981

16,706

14,900

5,493

20,393

(7.9)

(45.7)

(18.1)

Southeast

4,864

6,247

11,111

5,095

8,392

13,487

(4.5)

(25.6)

(17.6)

Century Complete

4,055

12,528

16,583

4,571

12,956

17,527

(11.3)

(3.3)

(5.4)

Total

33,681

26,447

60,128

37,419

31,282

68,701

(10.0)

(15.5)

(12.5)

% of Total

56.0%

44.0%

100.0%

54.5%

45.5%

100.0%

Century Communities, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Adjusted net income and adjusted diluted earnings per share (“Adjusted EPS”) are non-GAAP financial measures that the Company believes are useful to management, investors and other users of its financial information in evaluating its operating results and understanding its operating trends without the effect of specified factors that management believes affect comparability. The Company believes excluding specified factors that management believes affect comparability provides more comparable assessment of its financial results from period to period. The Company defines adjusted net income as consolidated net income before (i) income tax expense; (ii) inventory impairment; (iii) abandonment of lot option contracts; (iv) restructuring costs; (v) loss on debt extinguishment; (vi) impairment on other investment; and (vii) purchase price accounting for acquired work in process inventory; in each case, as applicable during a period, less adjusted income tax expense, calculated using the Company’s estimated annual effective tax rate after discrete items for the applicable period. Adjusted EPS is calculated by dividing adjusted net income by weighted average common shares – diluted.

Adjusted Net Income and Adjusted Diluted Earnings Per Share

(in thousands, except share and per share amounts)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Numerator

Net income

36,148

34,854

60,557

74,238

Denominator

Weighted average common shares outstanding - basic

28,637,901

30,366,109

28,912,225

30,582,376

Dilutive effect of stock-based compensation awards

15,497

314,599

21,702

329,710

Weighted average common shares outstanding - diluted

28,653,398

30,680,708

28,933,927

30,912,086

Earnings per share:

Basic

1.26

1.15

2.09

2.43

Diluted

1.26

1.14

2.09

2.40

Adjusted earnings per share

Numerator

Net income

36,148

34,854

60,557

74,238

Income tax expense

12,920

12,229

21,842

25,363

Income before income tax expense

49,068

47,083

82,399

99,601

Inventory impairment

—

7,360

—

7,771

Abandonment of lot option contracts(1)

1,125

2,642

2,079

4,148

Restructuring costs

—

1,505

Purchase price accounting for acquired work in process inventory

613

2,041

1,301

3,933

Adjusted income before income tax expense

50,806

59,126

85,779

116,958

Adjusted income tax expense(2)

(13,467)

(15,056)

(22,738)

(29,783)

Adjusted net income

37,339

44,070

63,041

87,175

Denominator - Diluted

28,653,398

30,680,708

28,933,927

30,912,086

Adjusted diluted earnings per share

1.30

1.44

2.18

2.82

(1)

Beginning in the third quarter of 2025, the Company added “Abandonment of lot option contracts” as an adjustment in its non-GAAP adjusted net income calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.

(2)

The tax rates used in calculating adjusted net income for the three and six months ended June 30, 2026 were each 26.5%, respectively, which are reflective of our GAAP tax rates for the six months ended June 30, 2026. The tax rates used in calculating adjusted net income for the three and six months ended June 30, 2025 were each 25.5%, respectively, which are reflective of our GAAP tax rates for the six months ended June 30, 2025.

Century Communities, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Adjusted homebuilding gross margin excluding inventory impairment (if applicable), interest in cost of home sales revenues, and purchase price accounting for acquired work in process inventory (if applicable), is not a measurement of financial performance under GAAP; however, the Company’s management believes that this information is meaningful as it isolates the impact that inventory impairment, indebtedness, and acquisitions have on homebuilding gross margin and permits the Company’s stockholders to make better comparisons with the Company’s competitors, who adjust gross margins in a similar fashion. This non-GAAP financial measure should not be used as a substitute for the Company’s GAAP operating results. An analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP.

Adjusted Homebuilding Gross Margin (in thousands)

Three Months Ended June 30,

2026

2025

Home sales revenues

897,528

100.0

976,467

100.0

Cost of home sales revenues(1)

(735,368)

(81.9)

(804,522)

(82.4)

Homebuilding gross margin

162,160

18.1

171,945

17.6

Add: Inventory impairment

—

7,360

0.8

Adjusted homebuilding gross margin excluding inventory impairment

162,160

18.1

179,305

18.4

Add: Interest in cost of home sales revenues

16,342

1.8

14,204

1.5

Add: Purchase price accounting for acquired work in process inventory

613

0.1

2,041

0.2

Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory

179,115

20.0

195,550

20.0

Six Months Ended June 30,

2026

2025

Home sales revenues

1,631,634

100.0

1,860,204

100.0

Cost of home sales revenues(1)

(1,338,659)

(82.0)

(1,512,437)

(81.3)

Homebuilding gross margin

292,975

18.0

347,767

18.7

Add: Inventory impairment

—

7,771

0.4

Adjusted homebuilding gross margin excluding inventory impairment

292,975

18.0

355,538

19.1

Add: Interest in cost of home sales revenues

29,512

1.8

26,989

1.5

Add: Purchase price accounting for acquired work in process inventory

1,301

0.1

3,933

0.2

Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory

323,788

19.8

386,460

20.8

(1)

Beginning in the fourth quarter of 2025, inventory impairment was reclassified to be included in cost of home sales revenues in the Company’s consolidated statements of operations rather than presented as a separate line item and prior year amounts have been reclassified to conform to this presentation.

Century Communities, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

EBITDA and Adjusted EBITDA

EBITDA and adjusted EBITDA are non-GAAP financial measures the Company uses as supplemental measures in evaluating operating performance. The Company defines EBITDA as net income before (i) income tax expense, (ii) interest in cost of home sales revenues, (iii) other interest expense (income), and (iv) depreciation and amortization expense. The Company defines adjusted EBITDA as EBITDA before inventory impairment, abandonment of lot option contracts, stock-based compensation expense, restructuring costs, loss on debt extinguishment, impairment on other investment, and purchase price accounting for acquired work in process inventory, in each case as applicable during a period. The Company believes EBITDA and adjusted EBITDA provide an indicator of general economic performance that is not affected by fluctuations in interest rates or effective tax rates, levels of depreciation or amortization, and other specified factors that management believes affect comparability. Accordingly, the Company’s management believes that these measurements are useful for comparing general operating performance from period to period. EBITDA and adjusted EBITDA should be considered in addition to, and not as a substitute for, consolidated net income in accordance with GAAP as a measure of performance. The presentation of adjusted EBITDA should not be construed as an indication that the Company’s future results will be unaffected by unusual or other specified factors that management believes affect comparability. Each of EBITDA and adjusted EBITDA is limited as an analytical tool, and should not be considered in isolation or as a substitute for analysis of the Company’s results of operations as reported under GAAP.

(in thousands)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

% Change

2026

2025

% Change

Net income

36,148

34,854

3.7

60,557

74,238

(18.4)

Income tax expense

12,920

12,229

5.7

21,842

25,363

(13.9)

Interest in cost of home sales revenues

16,342

14,204

15.1

29,512

26,989

9.3

Interest expense (income)

218

(1,229)

(117.7)

387

(431)

(189.8)

Depreciation and amortization expense

5,389

6,434

(16.2)

10,741

12,862

(16.5)

EBITDA

71,017

66,492

6.8

123,039

139,021

(11.5)

Inventory impairment

—

7,360

(100.0)

—

7,771

(100.0)

Abandonment of lot option contracts (1)

1,125

2,642

(57.4)

2,079

4,148

(49.9)

Stock-based compensation expense (2)

5,400

7,941

(32.0)

7,180

8,233

(12.8)

Restructuring costs

—

1,505

(100.0)

Purchase price accounting for acquired work in process inventory

613

2,041

(70.0)

1,301

3,933

(66.9)

Adjusted EBITDA

78,155

86,476

(9.6)

133,599

164,611

(18.8)

(1)

Beginning in the third quarter of 2025, the Company added “Abandonment of lot option contracts” as an adjustment in its non-GAAP adjusted EBITDA calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.

(2)

Beginning in the fourth quarter of 2025, the Company added “Stock-based compensation expense” as an adjustment in its non-GAAP adjusted EBITDA calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.

Century Communities, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Ratio of Net Homebuilding Debt to Net Capital

The following table presents the Company’s ratio of net homebuilding debt to net capital, which is a non-GAAP financial measure. The Company calculates this by dividing net homebuilding debt (homebuilding debt less cash and cash equivalents, and cash held in escrow) by net capital (net homebuilding debt plus total stockholders’ equity). Homebuilding debt is total debt minus outstanding borrowings under construction loan agreement and mortgage repurchase facilities. The most directly comparable GAAP measure is the ratio of homebuilding debt to capital. The Company believes the ratio of net homebuilding debt to net capital is a relevant and useful financial measure to investors in understanding the leverage employed in its operations and as an indicator of the Company’s ability to obtain external financing.

(in thousands)

June 30,

December 31,

2026

2025

Notes payable

1,121,745

1,102,376

Revolving line of credit

329,600

51,500

Construction loan agreements

(118,982)

(90,269)

Total homebuilding debt

1,332,363

1,063,607

Total stockholders' equity

2,565,751

2,591,732

Total capital

3,898,114

3,655,339

Homebuilding debt to capital

34.2%

29.1%

Total homebuilding debt

1,332,363

1,063,607

Cash and cash equivalents

(92,334)

(109,443)

Cash held in escrow

(39,709)

(48,571)

Net homebuilding debt

1,200,320

905,593

Total stockholders' equity

2,565,751

2,591,732

Net capital

3,766,071

3,497,325

Net homebuilding debt to net capital

31.9%

25.9%

Contact Information:

Tyler Langton, Senior Vice President of Investor Relations and Finance

303-268-8345

InvestorRelations@CenturyCommunities.com

Category:

Earnings

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Document And Entity Information

Jul. 22, 2026

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