Century Communities Reports Strong Growth and Affordable Home Demand
2024-04-26
In a recent earnings call transcript, Century Communities (CCS) discussed various aspects of their business performance and strategies. The call was attended by key participants such as Tyler Langton, Dale Francescon, Rob Francescon, and Scott Dixon, along with analysts. The call commenced with a cautionary statement regarding forward-looking statements and potential risks.
Century Communities highlighted significant achievements in the first quarter, including an increase in home deliveries, revenues, and earnings per share. The company noted a strong demand for their affordable new homes, with low resale inventories in their markets. Orders in the first quarter and April showed positive growth, with improvements in the average monthly absorption rate compared to previous periods.
The company's subsidiary, Century Complete, focused on acquiring finished lots and reported strong financial results for the first quarter. Century Complete's community count increased, and the company maintained a focus on affordability, with a high percentage of deliveries priced below FHA limits.
Regarding financial management, Century Communities reported on tax rates, debt ratios, investments, and guidance for future deliveries and revenue. The company's strategy for land acquisition and development, as well as its approach to incentives and gross margins, were also discussed during the call.
Century's competitive strategies, capital allocation priorities, and trends in average order prices were highlighted. The company's expectations for community count growth, lot acquisitions, and the impact of rising costs on future operations were also addressed.
The call concluded with expressions of gratitude from the participants to team members, investors, and attendees for their support and dedication to Century Communities. The operator closed the call, thanking participants for their involvement.
Overall, the earnings call provided valuable insights into Century Communities' performance, strategies, and future outlook in the competitive real estate market.