Form 8-K - Groowe Newsroom

8-K — Century Communities, Inc.

Accession: 0001576940-26-000024

Filed: 2026-04-22

Period: 2026-04-22

CIK: 0001576940

SIC: 1531 (OPERATIVE BUILDERS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ccs-20260422x8k.htm (Primary)

EX-99.1 (ccs-20260422xex99_1.htm)

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GRAPHIC (ccs-20260422xex99_1g002.jpg)

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XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: ccs-20260422x8k.htm · Sequence: 1

ccs-20260422x8k

false000157694000015769402026-04-222026-04-22

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): April 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 April 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 months ended March 31, 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 April 22, 2026, announcing Century Communities, Inc.’s results of operations and financial condition as of and for the three months ended March 31, 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: April 22, 2026

CENTURY COMMUNITIES, INC.

By:

/s/ J. Scott Dixon

J. Scott Dixon

Chief Financial Officer

EX-99.1

Filename: ccs-20260422xex99_1.htm · Sequence: 2

CCS 03.31.26 Earnings Release 8-K Exhibit 99.1

Century Communities Reports First Quarter 2026 Results

- Deliveries of 2,013 Homes Generating $789.7 Million in Total Revenues -

- Net New Home Contracts of 2,379 -

- Ending Community Count Increased Sequentially to 316 -

- Net Income of $24.4 Million, or $0.84 Per Diluted Share -

- Adjusted Net Income of $25.6 Million, or $0.88 Per Diluted Share -

- Increased Quarterly Cash Dividend 10% to $0.32 Per Share -

Greenwood Village, Colorado (April 22, 2026) – Century Communities, Inc. (NYSE: CCS), one of the nation’s largest homebuilders, today announced financial results for its first quarter ended March 31, 2026.

First Quarter 2026 Highlights

Net income of $24.4 million, or $0.84 per diluted share

Adjusted net income of $25.6 million, or $0.88 per diluted share

Total revenues of $789.7 million

Community count of 316

Deliveries of 2,013 homes

Net new home contracts of 2,379

Homebuilding gross margin of 17.8%

Adjusted homebuilding gross margin of 19.7%

Repurchased 617,087 shares of common stock for $40.0 million

“We performed well in the first quarter given continued market pressures which intensified even further beginning in early March,” said Dale Francescon, Executive Chairman. “While demand at the start of the quarter was roughly in line with year-ago levels, higher interest rates, gas prices, and increased weakness in consumer sentiment weighed on order activity most meaningfully in March, which typically represents the highest sales month of the quarter. Despite these headwinds, our traffic and net sales increased sequentially throughout the quarter, and our first quarter cancellation rate was below the levels we experienced throughout most of 2025, demonstrating the commitment of buyers once they have made the decision to purchase a home.”

Rob Francescon, Chief Executive Officer and President, said, “Our adjusted homebuilding gross margin of 19.7% increased by 140 basis points on a sequential basis, benefitting from lower incentives and direct costs, and we decreased our finished specs at the end of the first quarter by 16% sequentially and 31% versus the prior-year quarter. Our balance sheet remains strong with $2.6 billion of stockholders’ equity and $886 million of liquidity, and we repurchased 617,087 shares of our common stock for $40.0 million and increased our quarterly cash dividend by 10% to $0.32 per share while continuing to position Century for future growth.”

First Quarter 2026 Results

Net income for the first quarter 2026 was $24.4 million, or $0.84 per diluted share. Adjusted net income was $25.6 million, or $0.88 per diluted share.

Total revenues were $789.7 million, with first quarter home sales revenues totaling $734.1 million. Deliveries totaled 2,013 homes. The average sales price of home deliveries for the first quarter 2026 was $364,700.

Net new home contracts in the first quarter 2026 were 2,379, and at the end of the first quarter 2026, the Company had 1,155 homes in backlog, representing $438.5 million of backlog dollar value.

Adjusted homebuilding gross margin percentage, excluding interest, inventory impairment and purchase price accounting, was 19.7% in the first quarter of 2026, and homebuilding gross margin was 17.8%. Selling, general, and administrative expenses as a percent of home sales revenues was 15.8% in the quarter. Adjusted EBITDA and EBITDA for the first quarter 2026 were $55.4 million and $52.0 million, respectively.

Financial services revenues and pre-tax income were $22.4 million and $7.6 million, respectively, in the first quarter 2026.

Balance Sheet and Liquidity

The Company ended the first quarter 2026 with a strong financial position, including $2.6 billion of stockholders’ equity and $886.1 million of total liquidity, including $89.8 million of cash.

Book value per share was $88.75 as of March 31, 2026.

During the first quarter, consistent with our disciplined capital allocation approach to enhance the long-term value of the Company and return capital to our shareholders, we increased our quarterly cash dividend by 10% to $0.32 per share and repurchased 617,087 shares of common stock for $40.0 million.

As of March 31, 2026, homebuilding debt to capital equaled 32.2% and net homebuilding debt to net capital equaled 30.5%.

Full Year 2026 Outlook

Scott Dixon, Chief Financial Officer of the Company, commented, “Given the impact of the conflict in the Middle East as well as higher gas prices and interest rates on our order activity, we are reducing our full year 2026 home delivery guidance to be in the range of 9,500 to 10,500 homes and our home sales revenues 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, April 22, 2026, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, to review the Company’s first quarter 2026 results, provide commentary, and conduct a question-and-answer session. To participate in the call, please dial 800-549-8228 (domestic) or 646-564-2877 (international) and enter the conference ID 56727. The live webcast will be available at www.centurycommunities.com in the Investors section. A replay of the conference call will be available through April 29, 2026, by dialing 888-660-6264 (domestic) or 646-517-3975 (international) and entering conference ID 56727. 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 and multi-family rental businesses; future impairment and restructuring charges; the effect of tax changes; and the other factors included in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Report 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 March 31,

2026

2025

Revenues

Homebuilding Revenues

Home sales revenues

734,106

883,736

Land sales and other revenues

33,171

962

Total homebuilding revenues

767,277

884,698

Financial services revenues

22,396

18,534

Total revenues

789,673

903,232

Homebuilding Cost of Revenues

Cost of home sales revenues

(603,291)

(707,915)

Cost of land sales and other revenues

(22,571)

(827)

Total homebuilding cost of revenues

(625,862)

(708,742)

Financial services costs

(14,751)

(16,174)

Selling, general, and administrative expense

(116,082)

(120,760)

Other income (expense), net

353

(5,038)

Income before income tax expense

33,331

52,518

Income tax expense

(8,922)

(13,134)

Net income

24,409

39,384

Earnings per share:

Basic

0.84

1.28

Diluted

0.84

1.26

Weighted average common shares outstanding:

Basic

29,189,596

30,801,046

Diluted

29,217,503

31,145,867

Century Communities, Inc.

Consolidated Balance Sheets

(Unaudited)

(in thousands, except share amounts)

March 31,

December 31,

2026

2025

Assets

(unaudited)

(audited)

Cash and cash equivalents

78,182

109,443

Cash held in escrow

11,621

48,571

Accounts receivable

55,728

57,242

Inventories

3,525,742

3,361,158

Mortgage loans held for sale

213,947

299,145

Prepaid expenses and other assets

475,283

435,683

Property and equipment, net

70,822

69,368

Deferred tax assets, net

37,351

38,176

Goodwill

41,109

Total assets

4,509,785

4,459,895

Liabilities and stockholders' equity

Liabilities:

Accounts payable

152,195

114,416

Accrued expenses and other liabilities

276,770

310,602

Notes payable

1,112,751

1,102,376

Revolving line of credit

203,700

51,500

Mortgage repurchase facilities

211,170

289,269

Total liabilities

1,956,586

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, 28,769,233 and 29,050,515 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively

288

291

Additional paid-in capital

332,425

385,962

Retained earnings

2,220,486

2,205,479

Total stockholders' equity

2,553,199

2,591,732

Total liabilities and stockholders' equity

4,509,785

4,459,895

Century Communities, Inc.

Homebuilding Operational Data

(Unaudited)

Net New Home Contracts

Three Months Ended March 31,

2026

2025

% Change

West

336

392

(14.3)

Mountain

426

462

(7.8)

Texas

473

499

(5.2)

Southeast

359

387

(7.2)

Century Complete

785

952

(17.5)

Total

2,379

2,692

(11.6)

New Home Deliveries

(dollars in thousands)

Three Months Ended March 31,

2026

2025

% Change

Homes

Average Sales Price

Homes

Average Sales Price

Homes

Average Sales Price

West

277

568.6

303

599.5

(8.6)

(5.2)

Mountain

344

465.6

429

524.1

(19.8)

(11.2)

Texas

371

284.7

457

298.9

(18.8)

(4.8)

Southeast

315

393.9

303

443.5

4.0

(11.2)

Century Complete

706

264.5

792

260.4

(10.9)

1.6

Total / Weighted Average

2,013

364.7

2,284

386.9

(11.9)

(5.7)

Century Communities, Inc.

Homebuilding Operational Data

(Unaudited)

Selling Communities

As of March 31,

Increase/Decrease

2026

2025

Amount

% Change

West

17.6

Mountain

14.6

Texas

5.1

Southeast

(11)

(26.2)

Century Complete

108

116

(8)

(6.9)

Total

316

318

(2)

(0.6)

Backlog

(dollars in thousands)

As of March 31,

2026

2025

% Change

Homes

Dollar Value

Average Sales Price

Homes

Dollar Value

Average Sales Price

Homes

Dollar Value

Average Sales Price

West

178

105,463

592.5

248

158,029

637.2

(28.2)

(33.3)

(7.0)

Mountain

190

103,890

546.8

182

102,309

562.1

4.4

1.5

(2.7)

Texas

238

69,227

290.9

219

65,973

301.2

8.7

4.9

(3.4)

Southeast

144

58,671

407.4

191

87,755

459.5

(24.6)

(33.1)

(11.3)

Century Complete

405

101,208

249.9

418

106,984

255.9

(3.1)

(5.4)

(2.4)

Total / Weighted Average

1,155

438,459

379.6

1,258

521,050

414.2

(8.2)

(15.9)

(8.4)

Lot Inventory

As of March 31,

2026

2025

% Change

Owned

Controlled

Total

Owned

Controlled

Total

Owned

Controlled

Total

West

3,517

2,524

6,041

3,946

4,258

8,204

(10.9)

(40.7)

(26.4)

Mountain

7,813

2,018

9,831

9,180

3,168

12,348

(14.9)

(36.3)

(20.4)

Texas

14,148

2,943

17,091

12,942

9,539

22,481

9.3

(69.1)

(24.0)

Southeast

4,850

5,526

10,376

5,174

11,435

16,609

(6.3)

(51.7)

(37.5)

Century Complete

4,025

11,173

15,198

4,655

14,717

19,372

(13.5)

(24.1)

(21.5)

Total

34,353

24,184

58,537

35,897

43,117

79,014

(4.3)

(43.9)

(25.9)

% of Total

58.7%

41.3%

100.0%

45.4%

54.6%

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 certain non-recurring items. The Company believes excluding certain non-recurring items 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 March 31,

2026

2025

Numerator

Net income

24,409

39,384

Denominator

Weighted average common shares outstanding - basic

29,189,596

30,801,046

Dilutive effect of stock-based compensation awards

27,907

344,821

Weighted average common shares outstanding - diluted

29,217,503

31,145,867

Earnings per share:

Basic

0.84

1.28

Diluted

0.84

1.26

Adjusted earnings per share

Numerator

Net income

24,409

39,384

Income tax expense

8,922

13,134

Income before income tax expense

33,331

52,518

Inventory impairment

—

411

Abandonment of lot option contracts (1)

954

1,506

Restructuring costs

—

1,505

Purchase price accounting for acquired work in process inventory

688

1,892

Adjusted income before income tax expense

34,973

57,832

Adjusted income tax expense (2)

(9,362)

(14,463)

Adjusted net income

25,611

43,369

Denominator - Diluted

29,217,503

31,145,867

Adjusted diluted earnings per share

0.88

1.39

(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 months ended March 31, 2026 and 2025 were 26.8% and 25.0%, respectively, which reflect our GAAP tax rates for the applicable periods.

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 March 31,

2026

2025

Home sales revenues

734,106

100.0

883,736

100.0

Cost of home sales revenues (1)

(603,291)

(82.2)

(707,915)

(80.1)

Homebuilding gross margin

130,815

17.8

175,821

19.9

Add: Inventory impairment

—

0.0

411

0.0

Adjusted homebuilding gross margin excluding inventory impairment

130,815

17.8

176,232

19.9

Add: Interest in cost of home sales revenues

13,170

1.8

12,785

1.4

Add: Purchase price accounting for acquired work in process inventory

688

0.1

1,892

0.2

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

144,673

19.7

190,909

21.6

(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 items considered to be non-recurring. 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 non-recurring items. 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 March 31,

2026

2025

% Change

Net income

24,409

39,384

(38.0)

Income tax expense

8,922

13,134

(32.1)

Interest in cost of home sales revenues

13,170

12,785

3.0

Interest expense (income)

169

798

(78.8)

Depreciation and amortization expense

5,352

6,428

(16.7)

EBITDA

52,022

72,529

(28.3)

Inventory impairment

—

411

(100.0)

Abandonment of lot option contracts (1)

954

1,506

(36.7)

Stock-based compensation expense (2)

1,780

292

509.6

Restructuring costs

—

1,505

(100.0)

Purchase price accounting for acquired work in process inventory

688

1,892

(63.6)

Adjusted EBITDA

55,444

78,135

(29.0)

(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)

March 31,

December 31,

2026

2025

Notes payable

1,112,751

1,102,376

Revolving line of credit

203,700

51,500

Construction loan agreements

(104,838)

(90,269)

Total homebuilding debt

1,211,613

1,063,607

Total stockholders' equity

2,553,199

2,591,732

Total capital

3,764,812

3,655,339

Homebuilding debt to capital

32.2%

29.1%

Total homebuilding debt

1,211,613

1,063,607

Cash and cash equivalents

(78,182)

(109,443)

Cash held in escrow

(11,621)

(48,571)

Net homebuilding debt

1,121,810

905,593

Total stockholders' equity

2,553,199

2,591,732

Net capital

3,675,009

3,497,325

Net homebuilding debt to net capital

30.5%

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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