Form 8-K

8-K — Century Communities, Inc.

Accession: 0001576940-26-000069

Filed: 2026-10-28

Period: 2026-10-28

CIK: 0001576940

SIC: 1531 (OPERATIVE BUILDERS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ccs-20261028x8k.htm (Primary)

EX-99.1 (ccs-20261028xex99_1.htm)

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8-K

8-K (Primary)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

____________________

FORM 8-K

____________________

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 28, 2026

____________________

CENTURY COMMUNITIES, INC.

(Exact name of registrant as specified in its charter)

____________________

Delaware

001-36491

68-0521411

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification Number)

8390 East Crescent Parkway, Suite 650

‎Greenwood Village, Colorado

80111

(Address of principal executive offices)

(Zip Code)

(303) 770-8300

(Registrant’s telephone number, including area code)

Not Applicable

(Former name of former address, if changed since last report.)

____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

CCS

New York Stock Exchange

__________________________

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933, as amended, or Rule 12b-2 of the Securities Exchange Act of 1934, as amended.

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition

On October 28, 2026, Century Communities, Inc. (the “Company”) issued a press release announcing its results of operations and financial condition for the three and nine months ended and as of September 30, 2026. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Current Report on Form 8-K (including Exhibit 99.1) is being “furnished” in accordance with General Instruction B.2 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be incorporated by reference into any registration statement or any other document filed pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such filing.

As discussed therein, the press release furnished as Exhibit 99.1 to this Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act and, as such, may involve known and unknown risks, uncertainties and assumptions. These forward-looking statements relate to the Company’s current expectations and are subject to the limitations and qualifications set forth in the press release as well as in the Company’s other documents filed with the U.S. Securities and Exchange Commission, including, without limitation, that actual events and/or results may differ materially from those projected in such forward-looking statements.

Item 9.01. Financial Statements and Exhibits

(d)Exhibits.

Exhibit Number

Description

99.1

Press release, dated October 28, 2026, announcing Century Communities, Inc.’s results of operations and financial condition for the three and nine months ended and as of September 30, 2026.

104

The cover page from this current report on Form 8-K, formatted in Inline XBRL.

‎

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: October 28, 2026

CENTURY COMMUNITIES, INC.

By:

/s/ J. Scott Dixon

J. Scott Dixon

Chief Financial Officer

EX-99.1

Filename: ccs-20261028xex99_1.htm · Sequence: 2

CCS 093026 Earnings Release 8-K Exhibit 991

Century Communities Reports Third Quarter 2026 Results

- Deliveries of 2,442 Homes Generating $864.5 Million in Total Revenues -

- Ending Community Count Increased Sequentially to 343, a Company Record -

- Book Value Per Share of $90.61, a Company Record -

- Acquired the Assets of HistoryMaker Homes on October 7, 2026 -

- Increased Capacity on Revolving Line of Credit to $1.2 Billion -

Greenwood Village, Colorado (October 28, 2026) – Century Communities, Inc. (NYSE: CCS), one of the nation’s largest homebuilders, today announced financial results for its third quarter ended September 30, 2026.

Third Quarter 2026 Highlights

Net income of $12.6 million, or $0.44 per diluted share

Adjusted net income of $28.8 million, or $1.01 per diluted share

Total revenues of $864.5 million

Deliveries of 2,442 homes

Community count of 343, a Company record

Book value per share of $90.61, a Company record

Net new home contracts of 2,284

GAAP homebuilding gross margin of 15.0% inclusive of inventory impairment charges

Adjusted homebuilding gross margin of 19.3%

Repurchased 169,903 shares of common stock for $11.6 million

“The third quarter was marked by a significant rise in interest rates, continued inflation and macroeconomic uncertainty, which weighed heavily on consumer confidence in general and first-time homebuyers in particular,” said Dale Francescon, Executive Chairman. “Despite these pressures, we continued to make good progress on the operational side of the business during the quarter. We grew our ending community count by 7% year-over-year and 4% sequentially to a new Company record of 343 communities. Our direct construction costs, finished lot costs, and fixed G&A excluding advertising all decreased vs. the prior quarter as we continued to effectively manage our costs and grew our book value per share to a Company record $90.61.”

Rob Francescon, Chief Executive Officer and President, said, “In early October, we acquired substantially all of the assets of HistoryMaker Homes in support of our strategy of deepening our share in existing markets to drive improved margins and returns. This acquisition will accelerate our growth in the largest housing market in the country and one we believe will benefit from solid long-term fundamentals. Specifically, the transaction will increase Century’s Dallas division’s active communities from 12 to 41 communities as of September 30, 2026 and triple deliveries from 211 to 669 homes on a trailing-twelve-month basis through the third quarter 2026.”

Acquisition of HistoryMaker Homes

Century Communities acquired substantially all of the assets of HistoryMaker Homes on October 7, 2026. Founded in 1949, HistoryMaker is Texas’ longest-standing production homebuilder and builds exclusively in the Dallas-Fort Worth metroplex. The transaction provides Century with the scale, land position and local talent to accelerate its growth in the largest housing market in the country. HistoryMaker also serves a wider range of the Dallas-Fort Worth market through its focus on both entry-level and move-up homes. Century will also maintain an ongoing land relationship with HistoryMaker's sister land development company, which will complete land development on current and future communities for Century in Dallas-Fort Worth.

Third Quarter 2026 Results

Net income for the third quarter 2026 was $12.6 million, or $0.44 per diluted share. Adjusted net income was $28.8 million, or $1.01 per diluted share.

Total revenues were $864.5 million, with third quarter home sales revenues totaling $842.5 million. Deliveries totaled 2,442 homes. The average sales price of home deliveries for the third quarter 2026 was $345,000.

Net new home contracts in the third quarter 2026 were 2,284, and at the end of the third quarter 2026, the Company had 1,106 homes in backlog, representing $414.0 million of backlog dollar value. Adjusted homebuilding gross margin percentage, excluding interest, purchase price accounting and inventory impairment was 19.3% in the third quarter of 2026, and homebuilding gross margin was 15.0%. Homebuilding gross margin excluding inventory impairment was 17.3%. Selling, general, and administrative expenses as a percent of home sales revenues were 14.1% in the quarter. Adjusted EBITDA and EBITDA for the third quarter 2026 were $63.4 million and $37.1 million, respectively.

Financial services revenues and pre-tax income were $21.2 million and $6.2 million, respectively, in the third quarter 2026.

Balance Sheet and Liquidity

The Company ended the third quarter 2026 with a strong financial position, including $2.6 billion of stockholders’ equity and $863.8 million of total liquidity, including $119.8 million of cash, including cash equivalents and cash held in escrow. Century amended its revolving line of credit at the end of the quarter, increasing its capacity to $1.2 billion and extending its maturity to November 2030.

Book value per share was $90.61, a Company record, as of September 30, 2026.

During the third quarter, consistent with Century’s disciplined capital allocation approach to enhance the long-term value of the Company and return capital to our stockholders, Century maintained its quarterly cash dividend of $0.32 per share and repurchased 169,903 shares of our common stock for $11.6 million.

As of September 30, 2026, homebuilding debt to capital equaled 36.8% and net homebuilding debt to net capital equaled 34.9%.

Full Year 2026 Outlook

Scott Dixon, Chief Financial Officer of the Company, commented, “Given the impact of increased mortgage rates on our orders and deliveries, we now expect our full year 2026 home deliveries to be in the range of 9,350 to 9,650 homes, including 100 deliveries from HistoryMaker in the fourth quarter, and our home sales revenues to be in the range of $3.3 billion to $3.4 billion.”

Webcast and Conference Call

The Company will host a webcast and conference call on Wednesday, October 28, 2026, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, to review the Company’s third quarter 2026 results, provide commentary, and conduct a question-and-answer session. To participate in the call, please dial 833-461-5787 (domestic) or 585-542-9983 (international) and enter the conference ID 100 064 380. The live webcast will be available at www.centurycommunities.com in the Investors section. A replay of the webcast will be available on the Company’s website for at least one year.

About Century Communities

Century Communities, Inc. (NYSE: CCS) is one of the nation’s largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America's Most Trustworthy Companies for three consecutive years, and Century Communities has also been designated as one of U.S. News & World Report’s Best Companies to Work For (2025-2026). Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.

Non-GAAP Financial Measures

In addition to the Company’s operating results presented in accordance with United States generally accepted accounting principles (GAAP), this press release includes the following non-GAAP financial measures: adjusted net income, adjusted diluted earnings per share, adjusted homebuilding gross margin, homebuilding gross margin excluding inventory impairment, EBITDA, adjusted EBITDA, and ratio of net homebuilding debt to net capital. These non-GAAP financial measures should not be used as a substitute for the Company’s operating results presented in accordance with GAAP, and an analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP. Please refer to the reconciliation of each of the above referenced non-GAAP financial measures following the historical financial information presented in this press release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,” “continue,” “will,” “may,” “should,” “potential,” “guidance” and “outlook” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include the Company’s operating and financial guidance for 2026, including anticipated home deliveries and home sales revenues, and anticipated benefits of the recent HistoryMaker Homes acquisition. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. The following important factors could cause actual results to differ materially from those expressed in the forward-looking statements: changes in general economic conditions, including interest rates, inflation, and employment levels; consumer confidence and affordability concerns; the impact of geopolitical conflicts including in the Middle East, tariffs and increased costs, immigration reform and enforcement, global supply chain disruptions, labor, land and raw material or other resource shortages and delays, and municipal and utility delays on the Company’s business, industry and the broader economy; the availability and cost of financing; home incentive levels; the ability to identify and acquire desirable land and dispose of land when appropriate; availability and pricing for land, labor and raw materials and other resources; reliance on contractors and key personnel; the effect of competition; risks associated with the Company’s mortgage lending business and increased use of adjustable-rate mortgages; risks associated with the Company’s recent HistoryMaker Homes acquisition, including the possibility that the Company will not realize the anticipated benefits of such acquisition; risks associated with the Company’s multi-family rental businesses; future impairment and restructuring charges; the effect of tax changes; the effect of recent federal housing legislation; and the other factors included in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law.

Century Communities, Inc.

Consolidated Statements of Operations

(Unaudited)

(in thousands, except share and per share amounts)

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Revenues

Homebuilding Revenues

Home sales revenues

842,493

955,162

2,474,127

2,815,365

Land sales and other revenues

823

5,764

38,249

7,209

Total homebuilding revenues

843,316

960,926

2,512,376

2,822,574

Financial services revenues

21,151

19,358

68,991

61,666

Total revenues

864,467

980,284

2,581,367

2,884,240

Homebuilding Cost of Revenues

Cost of home sales revenues

(716,082)

(783,746)

(2,054,741)

(2,296,184)

Cost of land sales and other revenues

(26)

(6,303)

(24,275)

(7,199)

Total homebuilding cost of revenues

(716,108)

(790,049)

(2,079,016)

(2,303,383)

Financial services costs

(14,962)

(16,371)

(45,261)

(50,095)

Selling, general, and administrative expense

(118,837)

(119,895)

(362,335)

(369,491)

Other income (expense), net

1,275

(6,131)

3,479

(13,832)

Income before income tax expense

15,835

47,838

98,234

147,439

Income tax expense

(3,218)

(10,435)

(25,060)

(35,798)

Net income

12,617

37,403

73,174

111,641

Earnings per share:

Basic

0.44

1.26

2.55

3.69

Diluted

0.44

1.25

2.54

3.65

Weighted average common shares outstanding:

Basic

28,363,406

29,645,795

28,722,425

30,266,752

Diluted

28,476,268

30,019,153

28,774,514

30,611,011

Century Communities, Inc.

Consolidated Balance Sheets

(in thousands, except share amounts)

September 30,

December 31,

2026

2025

Assets

(unaudited)

(audited)

Cash and cash equivalents

86,086

109,443

Cash held in escrow

33,740

48,571

Accounts receivable

58,907

57,242

Inventories

3,744,023

3,361,158

Mortgage loans held for sale

186,506

299,145

Prepaid expenses and other assets

527,581

435,683

Property and equipment, net

75,232

69,368

Deferred tax assets, net

36,841

38,176

Goodwill

41,109

Total assets

4,790,025

4,459,895

Liabilities and stockholders' equity

Liabilities:

Accounts payable

142,568

114,416

Accrued expenses and other liabilities

273,872

310,602

Notes payable

1,165,321

1,102,376

Revolving line of credit

456,000

51,500

Mortgage repurchase facilities

191,266

289,269

Total liabilities

2,229,027

1,868,163

Stockholders' equity:

Preferred stock, $0.01 par value, 50,000,000 shares authorized, none outstanding

—

Common stock, $0.01 par value, 100,000,000 shares authorized, 28,264,817 and 29,050,515 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively

283

291

Additional paid-in capital

310,161

385,962

Retained earnings

2,250,554

2,205,479

Total stockholders' equity

2,560,998

2,591,732

Total liabilities and stockholders' equity

4,790,025

4,459,895

Century Communities, Inc.

Homebuilding Operational Data

(Unaudited)

Net New Home Contracts

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

% Change

2026

2025

% Change

West

268

337

(20.5)

913

1,052

(13.2)

Mountain

350

418

(16.3)

1,216

—

Texas

524

433

21.0

1,565

1,436

9.0

Southeast

302

388

(22.2)

1,047

1,159

(9.7)

Century Complete

840

810

3.7

2,537

2,761

(8.1)

Total

2,284

2,386

(4.3)

7,278

7,624

(4.5)

New Home Deliveries

(dollars in thousands)

Three Months Ended September 30,

2026

2025

% Change

Homes

Average Sales Price

Homes

Average Sales Price

Homes

Average Sales Price

West

278

550.7

369

591.0

(24.7)

(6.8)

Mountain

386

467.0

401

506.0

(3.7)

(7.7)

Texas

540

286.1

460

293.8

17.4

(2.6)

Southeast

310

389.7

423

413.8

(26.7)

(5.8)

Century Complete

928

252.0

833

268.9

11.4

(6.3)

Total / Weighted Average

2,442

345.0

2,486

384.2

(1.8)

(10.2)

Nine Months Ended September 30,

2026

2025

% Change

Homes

Average Sales Price

Homes

Average Sales Price

Homes

Average Sales Price

West

877

563.0

1,007

597.4

(12.9)

(5.8)

Mountain

1,146

470.0

1,226

517.2

(6.5)

(9.1)

Texas

1,438

287.5

1,418

295.6

1.4

(2.7)

Southeast

987

388.6

1,127

427.5

(12.4)

(9.1)

Century Complete

2,513

256.6

2,579

263.2

(2.6)

(2.5)

Total / Weighted Average

6,961

355.4

7,357

382.7

(5.4)

(7.1)

Century Communities, Inc.

Homebuilding Operational Data

(Unaudited)

Selling Communities

As of September 30,

Increase/Decrease

2026

2025

Amount

% Change

West

7.9

Mountain

7.5

Texas

17.8

Southeast

(8)

(17.8)

Century Complete

122

112

8.9

Total

343

321

6.9

Backlog

(dollars in thousands)

As of September 30,

2026

2025

% Change

Homes

Dollar Value

Average Sales Price

Homes

Dollar Value

Average Sales Price

Homes

Dollar Value

Average Sales Price

West

155

86,808

560.0

204

115,035

563.9

(24.0)

(24.5)

(0.7)

Mountain

178

95,939

539.0

139

73,330

527.6

28.1

30.8

2.2

Texas

263

76,233

289.9

195

59,212

303.6

34.9

28.7

(4.5)

Southeast

160

64,684

404.3

139

61,170

440.1

15.1

5.7

(8.1)

Century Complete

350

90,292

258.0

440

108,177

245.9

(20.5)

(16.5)

4.9

Total / Weighted Average

1,106

413,956

374.3

1,117

416,924

373.3

(1.0)

(0.7)

0.3

Lot Inventory

As of September 30,

2026

2025

% Change

Owned

Controlled

Total

Owned

Controlled

Total

Owned

Controlled

Total

West

3,562

2,309

5,871

3,709

2,207

5,916

(4.0)

4.6

(0.8)

Mountain

7,314

2,501

9,815

8,522

1,292

9,814

(14.2)

93.6

0.0

Texas

13,293

5,235

18,528

14,713

3,198

17,911

(9.7)

63.7

3.4

Southeast

5,141

5,729

10,870

5,221

7,857

13,078

(1.5)

(27.1)

(16.9)

Century Complete

4,163

11,722

15,885

4,318

11,202

15,520

(3.6)

4.6

2.4

Total

33,473

27,496

60,969

36,483

25,756

62,239

(8.3)

6.8

(2.0)

% of Total

54.9%

45.1%

100.0%

58.6%

41.4%

100.0%

Century Communities, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Adjusted net income and adjusted diluted earnings per share (“Adjusted EPS”) are non-GAAP financial measures that the Company believes are useful to management, investors and other users of its financial information in evaluating its operating results and understanding its operating trends without the effect of specified factors that management believes affect comparability. The Company believes excluding specified factors that management believes affect comparability provides more comparable assessment of its financial results from period to period. The Company defines adjusted net income as consolidated net income before (i) income tax expense; (ii) inventory impairment; (iii) abandonment of lot option contracts; (iv) restructuring costs; (v) loss on debt extinguishment; (vi) impairment on other investment; and (vii) purchase price accounting for acquired work in process inventory; in each case, as applicable during a period, less adjusted income tax expense, calculated using the Company’s estimated annual effective tax rate after discrete items for the applicable period. Adjusted EPS is calculated by dividing adjusted net income by weighted average common shares – diluted.

Adjusted Net Income and Adjusted Diluted Earnings Per Share

(in thousands, except share and per share amounts)

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Numerator

Net income

12,617

37,403

73,174

111,641

Denominator

Weighted average common shares outstanding - basic

28,363,406

29,645,795

28,722,425

30,266,752

Dilutive effect of stock-based compensation awards

112,862

373,358

52,089

344,259

Weighted average common shares outstanding - diluted

28,476,268

30,019,153

28,774,514

30,611,011

Earnings per share:

Basic

0.44

1.26

2.55

3.69

Diluted

0.44

1.25

2.54

3.65

Adjusted earnings per share

Numerator

Net income

12,617

37,403

73,174

111,641

Income tax expense

3,218

10,435

25,060

35,798

Income before income tax expense

15,835

47,838

98,234

147,439

Inventory impairment

19,605

3,180

19,605

10,951

Abandonment of lot option contracts

2,320

5,159

4,399

9,306

Restructuring costs

—

1,505

Loss on debt extinguishment

—

1,361

—

1,361

Purchase price accounting for acquired work in process inventory

899

2,830

2,200

6,763

Adjusted income before income tax expense

38,659

60,368

124,438

177,325

Adjusted income tax expense(1)

(9,862)

(14,657)

(31,745)

(43,054)

Adjusted net income

28,797

45,711

92,693

134,271

Denominator - Diluted

28,476,268

30,019,153

28,774,514

30,611,011

Adjusted diluted earnings per share

1.01

1.52

3.22

4.39

(1)

The tax rates used in calculating adjusted net income for the both three and nine months ended September 30, 2026 were 25.5%, which are reflective of our GAAP tax rates for the nine months ended September 30, 2026. The tax rates used in calculating adjusted net income for the three and nine months ended September 30, 2025 were each 24.3%, respectively, which are reflective of our GAAP tax rates for the nine months ended September 30, 2025.

Century Communities, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Adjusted homebuilding gross margin excluding inventory impairment (if applicable), interest in cost of home sales revenues, and purchase price accounting for acquired work in process inventory (if applicable), is not a measurement of financial performance under GAAP; however, the Company’s management believes that this information is meaningful as it isolates the impact that inventory impairment, indebtedness, and acquisitions have on homebuilding gross margin and permits the Company’s stockholders to make better comparisons with the Company’s competitors, who adjust gross margins in a similar fashion. This non-GAAP financial measure should not be used as a substitute for the Company’s GAAP operating results. An analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP.

Adjusted Homebuilding Gross Margin (in thousands)

Three Months Ended September 30,

2026

2025

Home sales revenues

842,493

100.0

955,162

100.0

Cost of home sales revenues

(716,082)

(85.0)

(783,746)

(82.1)

Homebuilding gross margin

126,411

15.0

171,416

17.9

Add: Inventory impairment

19,605

2.3

3,180

0.3

Adjusted homebuilding gross margin excluding inventory impairment (1)

146,016

17.3

174,596

18.3

Add: Interest in cost of home sales revenues

15,873

1.9

15,005

1.6

Add: Purchase price accounting for acquired work in process inventory

899

0.1

2,830

0.3

Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory(1)

162,788

19.3

192,431

20.1

Nine Months Ended September 30,

2026

2025

Home sales revenues

2,474,127

100.0

2,815,365

100.0

Cost of home sales revenues

(2,054,741)

(83.0)

(2,296,184)

(81.6)

Homebuilding gross margin

419,386

17.0

519,181

18.4

Add: Inventory impairment

19,605

0.8

10,951

0.4

Adjusted homebuilding gross margin excluding inventory impairment (1)

438,991

17.7

530,132

18.8

Add: Interest in cost of home sales revenues

45,385

1.8

41,994

1.5

Add: Purchase price accounting for acquired work in process inventory

2,200

0.1

6,763

0.2

Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase price accounting for acquired work in process inventory(1)

486,576

19.7

578,889

20.6

(1)

Beginning in the fourth quarter of 2025, inventory impairment was reclassified to be included in cost of home sales revenues in the Company’s consolidated statements of operations rather than presented as a separate line item and prior year amounts have been reclassified to conform to this presentation.

Century Communities, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

EBITDA and Adjusted EBITDA

EBITDA and adjusted EBITDA are non-GAAP financial measures the Company uses as supplemental measures in evaluating operating performance. The Company defines EBITDA as net income before (i) income tax expense, (ii) interest in cost of home sales revenues, (iii) interest expense (income), and (iv) depreciation and amortization expense. The Company defines adjusted EBITDA as EBITDA before inventory impairment, abandonment of lot option contracts, stock-based compensation expense, restructuring costs, loss on debt extinguishment, impairment on other investment, and purchase price accounting for acquired work in process inventory, in each case as applicable during a period. The Company believes EBITDA and adjusted EBITDA provide an indicator of general economic performance that is not affected by fluctuations in interest rates or effective tax rates, levels of depreciation or amortization, and other specified factors that management believes affect comparability. Accordingly, the Company’s management believes that these measurements are useful for comparing general operating performance from period to period. EBITDA and adjusted EBITDA should be considered in addition to, and not as a substitute for, consolidated net income in accordance with GAAP as a measure of performance. The presentation of adjusted EBITDA should not be construed as an indication that the Company’s future results will be unaffected by unusual or other specified factors that management believes affect comparability. Each of EBITDA and adjusted EBITDA is limited as an analytical tool, and should not be considered in isolation or as a substitute for analysis of the Company’s results of operations as reported under GAAP.

(in thousands)

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

% Change

2026

2025

% Change

Net income

12,617

37,403

(66.3)

73,174

111,641

(34.5)

Income tax expense

3,218

10,435

(69.2)

25,060

35,798

(30.0)

Interest in cost of home sales revenues

15,873

15,005

5.8

45,385

41,994

8.1

Interest expense (income)

876

(93.8)

442

445

(0.7)

Depreciation and amortization expense

5,365

6,005

(10.7)

16,107

18,868

(14.6)

EBITDA

37,127

69,724

(46.8)

160,168

208,746

(23.3)

Inventory impairment

19,605

3,180

516.5

19,605

10,951

79.0

Abandonment of lot option contracts

2,320

5,159

(55.0)

4,399

9,306

(52.7)

Stock-based compensation expense (1)

3,461

5,486

(36.9)

10,641

13,720

(22.4)

Restructuring costs

—

1,505

(100.0)

Loss on debt extinguishment

—

1,361

(100.0)

—

1,361

(100.0)

Purchase price accounting for acquired work in process inventory

899

2,830

(68.2)

2,200

6,763

(67.5)

Adjusted EBITDA

63,412

87,740

(27.7)

197,013

252,352

(21.9)

(1)

Beginning in the fourth quarter of 2025, the Company added “Stock-based compensation expense” as an adjustment in its non-GAAP adjusted EBITDA calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.

Century Communities, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Ratio of Net Homebuilding Debt to Net Capital

The following table presents the Company’s ratio of net homebuilding debt to net capital, which is a non-GAAP financial measure. The Company calculates this by dividing net homebuilding debt (homebuilding debt less cash and cash equivalents, and cash held in escrow) by net capital (net homebuilding debt plus total stockholders’ equity). Homebuilding debt is total debt minus outstanding borrowings under construction loan agreements and mortgage repurchase facilities. The most directly comparable GAAP measure is the ratio of homebuilding debt to capital. The Company believes the ratio of net homebuilding debt to net capital is a relevant and useful financial measure to investors in understanding the leverage employed in its operations and as an indicator of the Company’s ability to obtain external financing.

(in thousands)

September 30,

December 31,

2026

2025

Notes payable

1,165,321

1,102,376

Revolving line of credit

456,000

51,500

Construction loan agreements

(129,450)

(90,269)

Total homebuilding debt

1,491,871

1,063,607

Total stockholders' equity

2,560,998

2,591,732

Total capital

4,052,869

3,655,339

Homebuilding debt to capital

36.8%

29.1%

Total homebuilding debt

1,491,871

1,063,607

Cash and cash equivalents

(86,086)

(109,443)

Cash held in escrow

(33,740)

(48,571)

Net homebuilding debt

1,372,045

905,593

Total stockholders' equity

2,560,998

2,591,732

Net capital

3,933,043

3,497,325

Net homebuilding debt to net capital

34.9%

25.9%

Contact Information:

Tyler Langton, Senior Vice President of Investor Relations and Finance

303-268-8345

InvestorRelations@CenturyCommunities.com

Category:

Earnings

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