Century Communities Q1 Revenue Hits $789.7M; Net Income $24.4M
Century Communities reported Q1 net income of $24.4 million (84 cents per diluted share), with adjusted earnings of $25.6 million (88 cents). Total revenues reached $789.7 million from 2,013 home deliveries, while the company repurchased $40 million of stock and increased its quarterly dividend 10% to $0.32 per share.
1. Q1 Financial Results
Century Communities generated net income of $24.4 million, or $0.84 per diluted share, and adjusted net income of $25.6 million, or $0.88 per share, on total revenues of $789.7 million. Deliveries totaled 2,013 homes at an average sales price of $364,700, with 2,379 net new home contracts signed and a backlog valued at $438.5 million.
2. Profitability Metrics
The company achieved a homebuilding gross margin of 17.8%, with an adjusted gross margin of 19.7%, reflecting lower incentives and direct costs. Selling, general and administrative expenses represented 15.8% of home sales revenues.
3. Capital Allocation Actions
During the quarter, Century Communities repurchased 617,087 shares of common stock for $40.0 million and raised its quarterly cash dividend by 10% to $0.32 per share, underscoring its disciplined approach to returning capital to shareholders.
4. Balance Sheet and Full-Year Outlook
As of March 31, Century Communities held $2.6 billion in stockholders’ equity and $886.1 million of total liquidity. The company trimmed 2026 home delivery guidance to 9,500–10,500 homes and sales revenue guidance to $3.5–$3.8 billion, citing the Middle East conflict, higher gas costs and rising interest rates.