Century Communities Files Q2 2024 10-Q

TL;DR

Century Communities dropped its Q2 10-Q. Financials look steady.

AI Summary

Century Communities, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial data and disclosures are presented, reflecting the company's ongoing business activities in the homebuilding sector.

Why It Matters

This filing provides investors and analysts with the latest financial health and performance indicators for Century Communities, crucial for understanding its position in the competitive homebuilding market.

Risk Assessment

Risk Level: medium — As a homebuilder, Century Communities is subject to cyclical market conditions, interest rate fluctuations, and regulatory changes that can impact its financial performance.

Key Numbers

• Q2 2024 — Reporting Period (The second quarter of 2024 financial results are detailed.)

Key Players & Entities

• Century Communities, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240725 (date) — Filing date
• 8390 E. CRESCENT PKWY., SUITE 650 (address) — Company's business and mailing address
• GREENWOOD VILLAGE, CO 80111 (address) — Company's business and mailing city, state, and zip
• 303.770.8300 (phone_number) — Company's business phone number

FAQ

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share CCS New York Stock Exchan

Filing Documents

• ccs-20240630x10q.htm (10-Q) — 5318KB
• ccs-20240630xex22_1.htm (EX-22.1) — 160KB
• ccs-20240630xex31_1.htm (EX-31.1) — 14KB
• ccs-20240630xex31_2.htm (EX-31.2) — 14KB
• ccs-20240630xex31_3.htm (EX-31.3) — 15KB
• ccs-20240630xex32_1.htm (EX-32.1) — 10KB
• ccs-20240630xex32_2.htm (EX-32.2) — 10KB
• ccs-20240630xex32_3.htm (EX-32.3) — 10KB
• 0001576940-24-000059.txt ( ) — 13975KB
• ccs-20240630.xsd (EX-101.SCH) — 49KB
• ccs-20240630_cal.xml (EX-101.CAL) — 51KB
• ccs-20240630_def.xml (EX-101.DEF) — 154KB
• ccs-20240630_lab.xml (EX-101.LAB) — 431KB
• ccs-20240630_pre.xml (EX-101.PRE) — 325KB
• ccs-20240630x10q_htm.xml (XML) — 2742KB

– F INANCIAL INFORMATION

PART I – F INANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 (audited) 3 Unaudited Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for Six Months Ended June 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 6 Notes to the Unaudited Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 40

Controls and Procedures

Item 4. Controls and Procedures 40

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 40

Risk Factors

Item 1A. Risk Factors 40

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 41

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 41

Other Information

Item 5. Other Information 41

Exhibits

Item 6. Exhibits 42

Signatures

Signatures 43 2 Table of Contents PA RT I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. Century Communities, Inc. Condensed Consolidated Balance Sheets As of June 30, 2024 and December 31, 2023 (in thousands, except share and per share amounts) June 30, December 31, 2024 2023 Assets (unaudited) (audited) Cash and cash equivalents $ 106,682 $ 226,150 Cash held in escrow 44,823 101,845 Accounts receivable 78,260 76,213 Inventories 3,295,336 3,016,641 Mortgage loans held for sale 255,305 251,852 Prepaid expenses and other assets 404,315 350,193 Property and equipment, net 97,215 69,075 Deferred tax assets, net 17,426 16,998 Goodwill 32,082 30,395 Total assets $ 4,331,444 $ 4,139,362 Liabilities and stockholders' equity Liabilities: Accounts payable $ 158,778 $ 147,265 Accrued expenses and other liabilities 271,849 303,392 Notes payable 1,075,344 1,062,471 Revolving line of credit 111,000 — Mortgage repurchase facilities 248,816 239,298 Total liabilities 1,865,787 1,752,426 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, 31,336,340 and 31,774,615 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 313 318 Additional paid-in capital 540,573 592,989 Retained earnings 1,924,771 1,793,629 Total stockholders' equity 2,465,657 2,386,936 Total liabilities and stockholders' equity $ 4,331,444 $ 4,139,362 See Notes to Unaudited Condensed Consolidated Financial Statements 3 Table of Contents Century Communities, Inc. Unaudited Condensed Consolidated Statements of Operations For the Three and Six Months Ended June 30, 2024 and 2023 (in thousands, except share and per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues Homebuilding revenues

View Full Filing

View this 10-Q filing on SEC EDGAR