NYSE$CCS

Century Communities Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Century Communities reported record results for the fourth quarter of 2020, with significant increases in net income, home sales revenues, and EBITDA.

Century Communities reported a strong fourth quarter in 2020, achieving record net income, home sales revenues, and EBITDA. The company's performance was driven by strong housing market demand and operational efficiencies.

  • Net income increased by 72% to a record $91.8 million, or $2.72 per diluted share.
  • Home sales revenues increased by 22% to a company record of $946.8 million.
  • Net new home contracts increased by 45% to a fourth-quarter record of 2,566 homes.
  • EBITDA increased by 87% to a company record of $144.7 million.

Headline financials

Total Revenue

$988M

Previous: $793M+24.6%
EPS (adj)

$2.75

Previous: $1.50+83.3%
Net New Home Contracts

2.6K

Previous: 1.8K+44.6%
SG&A as % of Home Sales Revenues

10.1%

Previous: 10.9%-7.3%
Net Homebuilding Debt to Net Capital

27.2%

No prior period
Capital Expenditures

$1.82M

Previous: $4.48M-59.5%
Free Cash Flow

$23M

Previous: $75.7M-69.7%
Net Income

$91.8M

Previous: $53.4M+71.9%
Operating Income

$121M

Previous: $54M+124.5%
Gross Profit

$217M

Previous: $148M+46.6%
Cash & Equivalents

$394M

Previous: $55.4M+610.7%
Total Assets

$2.85B

Previous: $2.5B+13.8%
Stock-Based Comp

$3.96M

Previous: $3.93M+0.9%

Revenue & EPS history

Century Communities · Revenue · Quarterly

$988M

Q4 2020+24.6%vs Q4 2019
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Century Communities · $843M total across 2 segments · Q2 2023

  • Home Sales Revenues
    $818M-27.9%
  • Financial Services Revenues
    $24.3M+6.6%

Forward guidance

Century Communities provided full year 2021 guidance, expecting continued growth in home deliveries and home sales revenues.

Tailwinds

  • Expecting deliveries in the range of 10,500 to 11,500 homes.
  • Anticipating home sales revenues in the range of $3.3 billion to $3.8 billion.
  • Company's recent performance demonstrates the resiliency of our business and proven ability to execute.
  • Company remains encouraged by the strength and health of the housing market.
  • Well positioned to generate even higher returns to shareholders.

Headwinds

  • Adverse changes in general economic conditions.
  • Potential impact of COVID-19 on the Company’s business, industry and broader economy
  • Ability to identify and acquire desirable land.
  • Availability of financing.
  • The effect of interest rate and tax changes.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

+2.0%

Avg return

Earnings day

+2.0%

Avg return

5 days after

+2.9%

Avg return

30 days after

65%

31 / 48 earnings

Positive

+20.9%

Q4 2020

Best reaction

-9.8%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-7.7%-7.4%-18.6%
Q4 2025-0.2%+2.6%+5.1%
Q3 2025+7.2%+5.0%+0.5%
Q2 2025+0.2%-2.6%+3.2%
Q1 2025-6.1%-10.3%-11.7%
Q4 2024+4.8%+2.4%-6.9%
Q3 2024+1.5%-1.3%-4.1%
Q2 2024+0.4%+3.5%+4.5%
Q1 2024-6.5%-3.9%+0.1%
Q4 2023+5.2%+1.4%-1.5%
Q3 2023+3.2%+3.3%+21.2%
Q2 2023+3.0%+3.0%-5.0%
Q1 2023+0.2%-0.5%-2.8%
Q4 2022+0.9%-1.3%-1.6%
Q3 2022-9.8%-5.7%+1.2%
Q2 2022-2.5%-2.4%-6.4%
Q1 2022+4.5%+5.2%+5.1%
Q4 2021-3.0%-6.9%-1.4%
Q3 2021+4.4%+5.2%+10.4%
Q2 2021+10.6%+14.5%+14.4%
Q1 2021+13.6%+14.5%+23.4%
Q4 2020+20.9%+22.7%+19.4%
Q3 2020-0.1%-1.8%+9.5%
Q2 2020+1.1%-4.0%+1.5%
Q1 2020+11.8%+10.7%+54.2%
Q4 2019+11.4%+18.6%+5.2%
Q3 2019-7.5%-8.0%-12.7%
Q2 2019+2.9%+1.5%+3.3%
Q1 2019+12.3%+11.0%+6.2%
Q4 2018-3.2%+3.8%+0.3%
Q3 2018+1.7%-5.3%-8.9%
Q2 2018-1.0%-5.2%-5.3%
Q1 2018-0.7%-0.2%-2.6%
Q4 2017+8.5%+12.3%+4.3%
Q3 2017+1.6%-1.6%+5.7%
Q2 2017-4.2%-7.7%-14.0%
Q1 2017-1.3%-0.4%-4.8%
Q4 2016+3.3%+1.8%+12.2%
Q3 2016-2.5%+0.8%+3.0%
Q2 2016+12.7%+14.3%+12.2%
Q1 2016+0.9%
Q4 2015+1.1%
Q3 2015-3.0%
Q2 2015+7.3%
Q1 2015+0.5%
Q4 2014+7.8%
Q3 2014-9.3%
Q2 2014+1.0%
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013
Q4 2012

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