Century Communities Q3 2024 10-Q Filed

TL;DR

Century Communities filed its Q3 2024 10-Q. Financials look solid.

AI Summary

Century Communities, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter of 2024 and provides financial details for the company's operations. Key financial data points and disclosures related to common stock, retained earnings, and additional paid-in capital are included.

Why It Matters

This filing provides investors with the latest financial performance data for Century Communities, Inc., crucial for understanding the company's health and making investment decisions.

Risk Assessment

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

Key Numbers

• 2024-09-30 — Reporting Period End Date (The end date for the financial data presented in the 10-Q.)
• 2024-10-24 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• Q3 2024 — Fiscal Quarter (Indicates the specific quarter of the fiscal year covered by the report.)

Key Players & Entities

• Century Communities, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-10-24 (date) — Filing date
• 8390 E. CRESCENT PKWY., SUITE 650 (address) — Company's business and mailing address
• GREENWOOD VILLAGE, CO (location) — City and State of company's address

FAQ

Key Financial Figures

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

Filing Documents

• ccs-20240930x10q.htm (10-Q) — 5375KB
• ccs-20240930xex10_1.htm (EX-10.1) — 1951KB
• ccs-20240930xex22_1.htm (EX-22.1) — 160KB
• ccs-20240930xex31_1.htm (EX-31.1) — 14KB
• ccs-20240930xex31_2.htm (EX-31.2) — 14KB
• ccs-20240930xex31_3.htm (EX-31.3) — 15KB
• ccs-20240930xex32_1.htm (EX-32.1) — 10KB
• ccs-20240930xex32_2.htm (EX-32.2) — 10KB
• ccs-20240930xex32_3.htm (EX-32.3) — 10KB
• 0001576940-24-000074.txt ( ) — 16660KB
• ccs-20240930.xsd (EX-101.SCH) — 52KB
• ccs-20240930_cal.xml (EX-101.CAL) — 59KB
• ccs-20240930_def.xml (EX-101.DEF) — 173KB
• ccs-20240930_lab.xml (EX-101.LAB) — 466KB
• ccs-20240930_pre.xml (EX-101.PRE) — 352KB
• ccs-20240930x10q_htm.xml (XML) — 2855KB

– F INANCIAL INFORMATION

PART I – F INANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 (audited) 3 Unaudited Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for Nine Months Ended September 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 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 19

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 41

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 September 30, 2024 and December 31, 2023 (in thousands, except share and per share amounts) September 30, December 31, 2024 2023 Assets (unaudited) (audited) Cash and cash equivalents $ 149,155 $ 226,150 Cash held in escrow 70,755 101,845 Accounts receivable 73,016 76,213 Inventories 3,581,099 3,016,641 Mortgage loans held for sale 257,187 251,852 Prepaid expenses and other assets 427,961 350,193 Property and equipment, net 165,117 69,075 Deferred tax assets, net 17,241 16,998 Goodwill 39,434 30,395 Total assets $ 4,780,965 $ 4,139,362 Liabilities and stockholders' equity Liabilities: Accounts payable $ 165,369 $ 147,265 Accrued expenses and other liabilities 287,937 303,392 Notes payable 1,118,943 1,062,471 Revolving line of credit 414,000 — Mortgage repurchase facilities 247,214 239,298 Total liabilities 2,233,463 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, 31,337,062 and 31,774,615 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 313 318 Additional paid-in capital 547,724 592,989 Retained earnings 1,999,465 1,793,629 Total stockholders' equity 2,547,502 2,386,936 Total liabilities and stockholders' equity $ 4,780,965 $ 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 Nine Months Ended September 30, 2024 and 2023 (in thousands, except share and per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023

View Full Filing

View this 10-Q filing on SEC EDGAR