NYSE$CCS

Century Communities Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported record fourth quarter and full year results driven by home deliveries and sales price appreciation.

Century Communities reported record fourth quarter results, with net income increasing 80% to $165.0 million, or $4.78 per diluted share. Home sales revenues increased 22% to $1.2 billion, and deliveries grew to a record 2,915 homes.

  • Net income increased 80% to a Company record $165.0 million or $4.78 per diluted share
  • Deliveries grew to a Company record 2,915 homes from 2,826 homes
  • Home sales revenues increased 22% to a Company record $1.2 billion
  • Homebuilding gross margin increased to 25.9% from 20.8%, a 510 basis point increase

Headline financials

Total Revenue

$1.21B

Previous: $988M+22.2%
EPS (adj)

$4.78

Previous: $2.75+73.8%
Total Residential Units Delivered

2.9K

No prior period
Net New Home Contracts

2.7K

Previous: 2.6K+5.2%
Homebuilding Gross Margin

25.9%

No prior period
Capital Expenditures

$4.81M

Previous: $1.82M+165.0%
Free Cash Flow

-$289M

Previous: $23M-1357.8%
Net Income

$165M

Previous: $91.8M+79.7%
Operating Income

$212M

Previous: $121M+75.1%
Gross Profit

$299M

Previous: $217M+37.7%
Cash & Equivalents

$316M

Previous: $394M-19.7%
Total Assets

$3.5B

Previous: $2.85B+22.9%
Stock-Based Comp

$3.62M

Previous: $3.96M-8.7%

Revenue & EPS history

Century Communities · Revenue · Quarterly

$1.21B

Q4 2021+22.2%vs Q4 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Century Communities · $1.21B total across 3 segments · Q4 2021

  • Home Sales Revenues
    $1.15B
  • Financial Services Revenues
    $31.2M
  • Land Sales and Other Revenues
    $24.1M

Forward guidance

The company anticipates continued strong momentum into the new year, with expectations for home deliveries to be in the range of 11,500 to 12,500 homes and home sales revenues to be in the range of $4.3 billion to $4.9 billion. The company expects between 240 and 250 selling communities at year end.

Tailwinds

  • Strength of business
  • Health of the housing market
  • Strong momentum will continue into the new year
  • Home deliveries to be in the range of 11,500 to 12,500 homes
  • Home sales revenues to be in the range of $4.3 billion to $4.9 billion

Headwinds

  • Adverse changes in general economic conditions
  • Potential impact of COVID-19 on the Company’s business
  • Industry and broader economy
  • The ability to identify and acquire desirable land
  • Availability of financing

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 2021

Historical avgQ4 2021

+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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