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Century Communities Inc. (CCS-2.43%) has submitted its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The filing reports total revenues of $4.4 billion for 2024, an increase from $3.7 billion in 2023. This growth was primarily driven by increased home sales revenue due to more selling communities and higher average sales prices.
Net income for 2024 was $333.8 million, or $10.40 per diluted share, compared to $259.2 million, or $8.05 per diluted share, in 2023.
The company delivered 11,007 homes in 2024, a 15.0% increase from 9,568 homes in 2023, with an average sales price of $390.9 thousand, up from $376.7 thousand in the previous year.
Century Communities ended 2024 with $150.0 million in cash and cash equivalents and $3.0 million in cash held in escrow. The company had $135.5 million outstanding under its revolving line of credit.
The company's Financial Services segment reported revenues of $92.9 million, a 15.8% increase from 2023, driven by a 29.9% increase in the number of mortgages originated.
Century Living, the company's subsidiary engaged in multi-family rental properties, had three projects under active construction in Colorado as of December 31, 2024.
The company completed two acquisitions in 2024: Anglia Homes LP in Texas for $127.0 million and Landmark Homes of Tennessee, Inc. for $33.4 million.
Century Communities reported a homebuilding gross margin of 21.5% for 2024, slightly up from 21.2% in 2023.
The company had 80,632 lots owned and controlled at the end of 2024, a 9.4% increase from 73,720 lots at the end of 2023.
Century Communities paid quarterly cash dividends of $0.26 per share in 2024, totaling $1.04 per share for the year.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Century Communities Inc. annual 10-K report dated January 30, 2025. To report an error, please email earnings@qz.com.