Q3 2025 Century Communities Inc Earnings Call Transcript
Key Points
- Century Communities Inc (CCS) delivered 2,486 homes in the third quarter, hitting the high end of their guidance.
- The company achieved an adjusted homebuilding gross margin of 20.1%, slightly up on a sequential basis.
- Century Communities Inc (CCS) successfully refinanced their 2027 senior notes with 2033 notes at a lower interest rate.
- The company repurchased an additional $20 million of shares, bringing year-to-date repurchases to 6% of shares outstanding.
- Operational improvements have led to reduced direct construction costs, down 3% year-to-date.
- Home buyer demand has been muted due to weaker consumer confidence and economic uncertainty.
- Net new contracts declined by 6% on a sequential basis, although this was better than the historical average decline.
- Incentives on closed homes increased, impacting gross margins, with expectations for further increases in the fourth quarter.
- Finished lot costs increased in the mid-single-digit range on both a year-over-year and sequential basis.
- The company took an inventory impairment charge of $3.2 million related to several closeout communities.
Good afternoon, ladies and gentlemen. Welcome to the Century Communities Third Quarter 2025 Earnings Conference Call. (Operator Instructions) This call is being recorded on Wednesday, October 22, 2025.
I would now like to turn the conference over to Tyler Langton. Please go ahead.
Good afternoon. Thank you for joining us today for Century Communities Earnings Conference Call for the Third Quarter 2025. Before the call begins, I would like to remind everyone that certain statements made during this call may constitute forward-looking statements. These statements are based on management's current expectations and are subject to a number of risks and uncertainties and that could cause actual results to differ materially from those described or implied in the forward-looking statements. Certain of these risks and uncertainties can be found under the heading Risk Factors in the company's latest 10-K as supplemented by our latest 10-Q and other SEC filings.
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