Page 1

CENTURY COMMUNITIES Century Communities Reports Record Second Quarter 2021 Results - Net Income Increased 207 % to a Company Record $ 117.9 Million or $ 3.47 Per Diluted Share - - Home Sales Revenues Increased 34 % to a Company Record $ 1.0 Billion - - Net New Home Contracts Increased 17 % to a Second Quarter Record 3,120 Homes - - Increased 2021 Outlook for Revenue - Greenwood Village , Colorado ( July 28 , 2021 ) - Century Communities , Inc. ( NYSE : CCS ) , a leading national homebuilder , today announced financial results for its second quarter ended June 30 , 2021 . Second Quarter 2021 Highlights Compared to Second Quarter 2020 • • • • • Net income increased 207 % to a Company record $ 117.9 million or $ 3.47 per diluted share Home sales revenues increased 34 % to a Company record $ 1.0 billion Home deliveries increased 12 % to a second quarter record of 2,771 homes Net new home contracts increased 17 % to a second quarter record 3,120 homes Homes in backlog improved to 4,446 homes with a value of $ 1.8 billion , both Company records Pre - tax income improved 204 % to a Company record $ 152.1 million EBITDA increased 142 % to a Company record $ 173.2 million Net homebuilding debt to net capital improved to 23.0 % from 37.5 % Quarter end total liquidity of $ 1.3 billion Expanded $ 800 million line of credit with a $ 200 million accordion Initiated quarterly cash dividend of $ 0.15 per share Dale Francescon , Chairman and Co - Chief Executive Officer , stated , " We continued our strong momentum in the second quarter and established a number of company records including home sales revenues in excess of $ 1 billion , $ 118 million of net income , pretax income of $ 152 million and $ 173 million in EBITDA . Year - to - date , we've delivered a record 5,568 homes , a 28 % increase over last year , of which over 85 % were spec builds . This meaningful focus on move - in - ready homes has enabled Century to capture additional margin expansion , culminating in a second quarter gross margin of 23.9 % , the fourth consecutive quarter of sequential margin improvement and an increase of 700 basis points over last year . Our results demonstrate the continued high demand for our homes , positive industry dynamics and the strength , scale and operational excellence of our platform , further cementing us as one of the leading , entry - level national homebuilders . " Rob Francescon , Co - Chief Executive Officer and President , said , " New sales for our more affordable , high return Century Complete brand increased 56 % propelling total new contracts to 3,120 homes . These strong sales along with our record backlog of 4,446 homes valued at over $ 1.8 billion gives us tremendous confidence in our success for the duration of 2021 and beyond . We continued to make significant investments to support our growth initiatives , ending the quarter with a 65,610 lot pipeline , of which 66 % are controlled , reflecting our ongoing commitment to an asset - light land acquisition strategy . We're excited for Century's continued growth and believe our strong fundamentals , extensive footprint across 30 thriving markets , healthy balance sheet and dedicated , high performing team position us better than ever to continue to increase our return on equity , as we have for nine consecutive quarters , including the 28 % achieved in the most recent quarter . "