Century Communities (CCS) Tops Q4 EPS by 41c, Issues Solid Outlook

Century Communities (NYSE: CCS) reported Q4 EPS of $1.01, $0.41 better than the analyst estimate of $0.60. Revenue for the quarter came in at $516.5 million versus the consensus estimate of $507.83 million.

• Adjusted net income of $28.8 million or $1.01 per diluted share excluding the one-time charges related to the impact of remeasurement of deferred tax amounts and homebuilding acquisitions, an increase of 90%, and net income of $17.2 million, or $0.60 per diluted share
• Net new home contracts increased 62% to 922 contracts
• Home sales revenues increased 77% to a record $516.5 million
• Deliveries grew 62% to a record 1,311 homes
• Backlog value increased 89% to $572.9 million
• Backlog improved 76% to 1,320 homes
• Adjusted homebuilding gross margin percentage increased 30 basis points to 21.7%
• Adjusted EBITDA improved 90% to $58.6 million
• Completed the bolt-on acquisition of the assets of Sundquist Homes (“Sundquist”), strengthening the Company’s presence and enhancing operating efficiencies in the Seattle, Washington market

GUIDANCE:

Century Communities sees FY2018 revenue of $1.75-2 billion, versus the consensus of $1.83 billion.

For earnings history and earnings-related data on Century Communities (CCS) click here.

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