Earnings release
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Century Communities Reports Third Quarter 2026 Results - Deliveries of 2,442 Homes Generating $864.5 Million in Total Revenues -- Ending Community Count Increased Sequentially to 343, a Company Record -- Book Value Per Share of $90.61, a Company Record -- Acquired the Assets of HistoryMaker Homes on October 7, 2026 -- Increased Capacity on Revolving Line of Credit to $1.2 Billion - Greenwood Village, Colorado (October 28, 2026) – Century Communities, Inc. (NYSE: CCS), one of the nation’s largest homebuilders, todayannounced financial results for its third quarter ended September 30, 2026. Third Quarter 2026 Highlights · Net income of $12.6 million, or $0.44 per diluted share· Adjusted net income of $28.8 million, or $1.01 per diluted share· Total revenues of $864.5 million· Deliveries of 2,442 homes· Community count of 343, a Company record· Book value per share of $90.61, a Company record· Net new home contracts of 2,284· GAAP homebuilding gross margin of 15.0% inclusive of inventory impairment charges· Adjusted homebuilding gross margin of 19.3%· Repurchased 169,903 shares of common stock for $11.6 million “The third quarter was marked by a significant rise in interest rates, continued inflation and macroeconomic uncertainty, which weighed heavily onconsumer confidence in general and first-time homebuyers in particular,” said Dale Francescon, Executive Chairman. “Despite these pressures, wecontinued to make good progress on the operational side of the business during the quarter. We grew our ending community count by 7% year-over-year and 4% sequentially to a new Company record of 343 communities. Our direct construction costs, finished lot costs, and fixed G&Aexcluding advertising all decreased vs. the prior quarter as we continued to effectively manage our costs and grew our book value per share to aCompany record $90.61.”Rob Francescon, Chief Executive Officer and President, said, “In early October, we acquired substantially all of the assets of HistoryMaker Homes insupport of our strategy of deepening our share in existing markets to drive improved margins and returns. This acquisition will accelerate ourgrowth in the largest housing market in the country and one we believe will benefit from solid long-term fundamentals. Specifically, thetransaction will increase Century’s Dallas division’s active communities from 12 to 41 communities as of September 30, 2026 and triple deliveriesfrom 211 to 669 homes on a trailing-twelve-month basis through the third quarter 2026.”Acquisition of HistoryMaker Homes Century Communities acquired substantially all of the assets of HistoryMaker Homes on October 7, 2026. Founded in 1949, HistoryMaker is Texas’longest-standing production homebuilder and builds exclusively in the Dallas-Fort Worth metroplex. The transaction provides Century with thescale, land position and local talent to accelerate its growth in the largest housing market in the country. HistoryMaker also serves a wider range ofthe Dallas-Fort Worth market through its focus on both entry-level and move-up homes. Century will also maintain an ongoing land relationshipwith HistoryMaker's sister land development company, which will complete land development on current and future communities for Century inDallas-Fort Worth.
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Third Quarter 2026 Results Net income for the third quarter 2026 was $12.6 million, or $0.44 per diluted share. Adjusted net income was $28.8 million, or $1.01 per dilutedshare. Total revenues were $864.5 million, with third quarter home sales revenues totaling $842.5 million. Deliveries totaled 2,442 homes. The averagesales price of home deliveries for the third quarter 2026 was $345,000. Net new home contracts in the third quarter 2026 were 2,284, and at the end of the third quarter 2026, the Company had 1,106 homes inbacklog, representing $414.0 million of backlog dollar value. Adjusted homebuilding gross margin percentage, excluding interest, purchase priceaccounting and inventory impairment was 19.3% in the third quarter of 2026, and homebuilding gross margin was 15.0%. Homebuilding grossmargin excluding inventory impairment was 17.3%. Selling, general, and administrative expenses as a percent of home sales revenues were 14.1%in the quarter. Adjusted EBITDA and EBITDA for the third quarter 2026 were $63.4 million and $37.1 million, respectively. Financial services revenues and pre-tax income were $21.2 million and $6.2 million, respectively, in the third quarter 2026. Balance Sheet and Liquidity The Company ended the third quarter 2026 with a strong financial position, including $2.6 billion of stockholders’ equity and $863.8 million oftotal liquidity, including $119.8 million of cash, including cash equivalents and cash held in escrow. Century amended its revolving line of credit atthe end of the quarter, increasing its capacity to $1.2 billion and extending its maturity to November 2030. Book value per share was $90.61, a Company record, as of September 30, 2026. During the third quarter, consistent with Century’s disciplined capital allocation approach to enhance the long-term value of the Company andreturn capital to our stockholders, Century maintained its quarterly cash dividend of $0.32 per share and repurchased 169,903 shares of ourcommon stock for $11.6 million. As of September 30, 2026, homebuilding debt to capital equaled 36.8% and net homebuilding debt to net capital equaled 34.9%. Full Year 2026 Outlook Scott Dixon, Chief Financial Officer of the Company, commented, “Given the impact of increased mortgage rates on our orders and deliveries, wenow expect our full year 2026 home deliveries to be in the range of 9,350 to 9,650 homes, including 100 deliveries from HistoryMaker in thefourth quarter, and our home sales revenues to be in the range of $3.3 billion to $3.4 billion.” Webcast and Conference Call The Company will host a webcast and conference call on Wednesday, October 28, 2026, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, toreview the Company’s third quarter 2026 results, provide commentary, and conduct a question-and-answer session. To participate in the call,please dial 833-461-5787 (domestic) or 585-542-9983 (international) and enter the conference ID 100 064 380. The live webcast will be availableat www.centurycommunities.com in the Investors section. A replay of the webcast will be available on the Company’s website for at least one year. About Century Communities Century Communities, Inc. (NYSE: CCS) is one of the nation’s largest homebuilders and a recognized industry leader in online homesales. Newsweek has named the Company one of America's Most Trustworthy Companies for three consecutive years, and Century Communitieshas also been designated as one of U.S. News & World Report’s Best Companies to Work For (2025-2026). Through its Century Communities andCentury Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with AHOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land,along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Companyoperates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in selectmarkets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about CenturyCommunities, please visit www.centurycommunities.com. Non-GAAP Financial Measures In addition to the Company’s operating results presented in accordance with United States generally accepted accounting principles (GAAP), thispress release includes the following non-GAAP financial measures: adjusted net income, adjusted diluted earnings per share, adjustedhomebuilding gross margin, homebuilding gross margin excluding inventory impairment, EBITDA, adjusted EBITDA, and ratio of net homebuildingdebt to net capital. These non-GAAP financial measures should not be used as a substitute for the Company’s operating results presented inaccordance with GAAP, and an analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordancewith GAAP. Please refer to the reconciliation of each of the above referenced non-GAAP financial measures following the historical financialinformation presented in this press release. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions.Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “intend,” “estimate,” “plan,”“continue,” “will,” “may,” “should,” “potential,” “guidance” and “outlook” and other similar expressions that predict or indicate future events ortrends or that are not statements of historical matters. Forward-looking statements in this release include the Company’s operating and financialguidance for 2026, including anticipated home deliveries and home sales revenues, and anticipated benefits of the recent HistoryMaker Homesacquisition. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurateindications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historicalinformation available at the time the statements are made and are based on management’s reasonable belief or expectations with respect tofuture events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performanceor results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. The followingimportant factors could cause actual results to differ materially from those expressed in the forward-looking statements: changes in generaleconomic conditions, including interest rates, inflation, and employment levels; consumer confidence and affordability concerns; the impact ofgeopolitical conflicts including in the Middle East, tariffs and increased costs, immigration reform and enforcement, global supply chaindisruptions, labor, land and raw material or other resource shortages and delays, and municipal and utility delays on the Company’s business,industry and the broader economy; the availability and cost of financing; home incentive levels; the ability to identify and acquire desirable landand dispose of land when appropriate; availability and pricing for land, labor and raw materials and other resources; reliance on contractors andkey personnel; the effect of competition; risks associated with the Company’s mortgage lending business and increased use of adjustable-ratemortgages; risks associated with the Company’s recent HistoryMaker Homes acquisition, including the possibility that the Company will not realizethe anticipated benefits of such acquisition; risks associated with the Company’s multi-family rental businesses; future impairment andrestructuring charges; the effect of tax changes; the effect of recent federal housing legislation; and the other factors included in the Company’smost recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the dateon which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events,developments or otherwise, except as may be required by applicable law.
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Century Communities, Inc.Consolidated Statements of Operations(Unaudited)(in thousands, except share and per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Revenues Homebuilding Revenues Home sales revenues $ 842,493 $ 955,162 $ 2,474,127 $ 2,815,365 Land sales and other revenues 823 5,764 38,249 7,209 Total homebuilding revenues 843,316 960,926 2,512,376 2,822,574 Financial services revenues 21,151 19,358 68,991 61,666 Total revenues 864,467 980,284 2,581,367 2,884,240 Homebuilding Cost of Revenues Cost of home sales revenues (716,082) (783,746) (2,054,741) (2,296,184) Cost of land sales and other revenues (26) (6,303) (24,275) (7,199) Total homebuilding cost of revenues (716,108) (790,049) (2,079,016) (2,303,383) Financial services costs (14,962) (16,371) (45,261) (50,095) Selling, general, and administrative expense (118,837) (119,895) (362,335) (369,491) Other income (expense), net 1,275 (6,131) 3,479 (13,832) Income before income tax expense 15,835 47,838 98,234 147,439 Income tax expense (3,218) (10,435) (25,060) (35,798) Net income $ 12,617 $ 37,403 $ 73,174 $ 111,641 Earnings per share: Basic $ 0.44 $ 1.26 $ 2.55 $ 3.69 Diluted $ 0.44 $ 1.25 $ 2.54 $ 3.65 Weighted average common shares outstanding: Basic 28,363,406 29,645,795 28,722,425 30,266,752 Diluted 28,476,268 30,019,153 28,774,514 30,611,011
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Century Communities, Inc.Consolidated Balance Sheets(in thousands, except share amounts) September 30, December 31, 2026 2025 Assets (unaudited) (audited) Cash and cash equivalents $ 86,086 $ 109,443 Cash held in escrow 33,740 48,571 Accounts receivable 58,907 57,242 Inventories 3,744,023 3,361,158 Mortgage loans held for sale 186,506 299,145 Prepaid expenses and other assets 527,581 435,683 Property and equipment, net 75,232 69,368 Deferred tax assets, net 36,841 38,176 Goodwill 41,109 41,109 Total assets $ 4,790,025 $ 4,459,895 Liabilities and stockholders' equity Liabilities: Accounts payable $ 142,568 $ 114,416 Accrued expenses and other liabilities 273,872 310,602 Notes payable 1,165,321 1,102,376 Revolving line of credit 456,000 51,500 Mortgage repurchase facilities 191,266 289,269 Total liabilities 2,229,027 1,868,163 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, 28,264,817 and 29,050,515 shares issued and outstanding at September30, 2026 and December 31, 2025, respectively 283 291 Additional paid-in capital 310,161 385,962 Retained earnings 2,250,554 2,205,479 Total stockholders' equity 2,560,998 2,591,732 Total liabilities and stockholders' equity $ 4,790,025 $ 4,459,895
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Century Communities, Inc.Homebuilding Operational Data(Unaudited) Net New Home Contracts Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 % Change 2026 2025 % Change West 268 337 (20.5) % 913 1,052 (13.2) % Mountain 350 418 (16.3) % 1,216 1,216 — % Texas 524 433 21.0 % 1,565 1,436 9.0 % Southeast 302 388 (22.2) % 1,047 1,159 (9.7) % Century Complete 840 810 3.7 % 2,537 2,761 (8.1) % Total 2,284 2,386 (4.3) % 7,278 7,624 (4.5) % New Home Deliveries (dollars in thousands) Three Months Ended September 30, 2026 2025 % Change Homes Average Sales Price Homes Average Sales Price Homes Average Sales Price West 278 $ 550.7 369 $ 591.0 (24.7) % (6.8) % Mountain 386 467.0 401 506.0 (3.7) % (7.7) % Texas 540 286.1 460 293.8 17.4 % (2.6) % Southeast 310 389.7 423 413.8 (26.7) % (5.8) % Century Complete 928 252.0 833 268.9 11.4 % (6.3) % Total / Weighted Average 2,442 $ 345.0 2,486 $ 384.2 (1.8) % (10.2) % Nine Months Ended September 30, 2026 2025 % Change Homes Average Sales Price Homes Average Sales Price Homes Average Sales Price West 877 $ 563.0 1,007 $ 597.4 (12.9) % (5.8) % Mountain 1,146 470.0 1,226 517.2 (6.5) % (9.1) % Texas 1,438 287.5 1,418 295.6 1.4 % (2.7) % Southeast 987 388.6 1,127 427.5 (12.4) % (9.1) % Century Complete 2,513 256.6 2,579 263.2 (2.6) % (2.5) % Total / Weighted Average 6,961 $ 355.4 7,357 $ 382.7 (5.4) % (7.1) %
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Century Communities, Inc.Homebuilding Operational Data(Unaudited) Selling Communities As of September 30, Increase/Decrease 2026 2025 Amount % Change West 41 38 3 7.9 % Mountain 57 53 4 7.5 % Texas 86 73 13 17.8 % Southeast 37 45 (8) (17.8) % Century Complete 122 112 10 8.9 % Total 343 321 22 6.9 % Backlog(dollars in thousands) As of September 30, 2026 2025 % Change Homes Dollar Value Average SalesPrice Homes Dollar Value Average SalesPrice Homes Dollar Value Average SalesPrice West 155 $ 86,808 $ 560.0 204 $ 115,035 $ 563.9 (24.0) % (24.5) % (0.7) % Mountain 178 95,939 539.0 139 73,330 527.6 28.1 % 30.8 % 2.2 % Texas 263 76,233 289.9 195 59,212 303.6 34.9 % 28.7 % (4.5) % Southeast 160 64,684 404.3 139 61,170 440.1 15.1 % 5.7 % (8.1) % Century Complete 350 90,292 258.0 440 108,177 245.9 (20.5) % (16.5) % 4.9 % Total / Weighted Average 1,106 $ 413,956 $ 374.3 1,117 $ 416,924 $ 373.3 (1.0) % (0.7) % 0.3 % Lot Inventory As of September 30, 2026 2025 % Change Owned Controlled Total Owned Controlled Total Owned Controlled Total West 3,562 2,309 5,871 3,709 2,207 5,916 (4.0) % 4.6 % (0.8) % Mountain 7,314 2,501 9,815 8,522 1,292 9,814 (14.2) % 93.6 % 0.0 % Texas 13,293 5,235 18,528 14,713 3,198 17,911 (9.7) % 63.7 % 3.4 % Southeast 5,141 5,729 10,870 5,221 7,857 13,078 (1.5) % (27.1) % (16.9) % Century Complete 4,163 11,722 15,885 4,318 11,202 15,520 (3.6) % 4.6 % 2.4 % Total 33,473 27,496 60,969 36,483 25,756 62,239 (8.3) % 6.8 % (2.0) % % of Total 54.9% 45.1% 100.0% 58.6% 41.4% 100.0%
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Century Communities, Inc.Reconciliation of Non-GAAP Financial Measures(Unaudited) Adjusted net income and adjusted diluted earnings per share (“Adjusted EPS”) are non-GAAP financial measures that the Company believes are useful tomanagement, investors and other users of its financial information in evaluating its operating results and understanding its operating trends without the effect ofspecified factors that management believes affect comparability. The Company believes excluding specified factors that management believes affectcomparability provides more comparable assessment of its financial results from period to period. The Company defines adjusted net income as consolidated netincome before (i) income tax expense; (ii) inventory impairment; (iii) abandonment of lot option contracts; (iv) restructuring costs; (v) loss on debtextinguishment; (vi) impairment on other investment; and (vii) purchase price accounting for acquired work in process inventory; in each case, as applicableduring a period, less adjusted income tax expense, calculated using the Company’s estimated annual effective tax rate after discrete items for the applicableperiod. Adjusted EPS is calculated by dividing adjusted net income by weighted average common shares – diluted. Adjusted Net Income and Adjusted Diluted Earnings Per Share(in thousands, except share and per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Numerator Net income $ 12,617 $ 37,403 $ 73,174 $ 111,641 Denominator Weighted average common shares outstanding - basic 28,363,406 29,645,795 28,722,425 30,266,752 Dilutive effect of stock-based compensation awards 112,862 373,358 52,089 344,259 Weighted average common shares outstanding - diluted 28,476,268 30,019,153 28,774,514 30,611,011 Earnings per share: Basic $ 0.44 $ 1.26 $ 2.55 $ 3.69 Diluted $ 0.44 $ 1.25 $ 2.54 $ 3.65 Adjusted earnings per share Numerator Net income $ 12,617 $ 37,403 $ 73,174 $ 111,641 Income tax expense 3,218 10,435 25,060 35,798 Income before income tax expense 15,835 47,838 98,234 147,439 Inventory impairment 19,605 3,180 19,605 10,951 Abandonment of lot option contracts 2,320 5,159 4,399 9,306 Restructuring costs — — — 1,505 Loss on debt extinguishment — 1,361 — 1,361 Purchase price accounting for acquired work in process inventory 899 2,830 2,200 6,763 Adjusted income before income tax expense 38,659 60,368 124,438 177,325 Adjusted income tax expense(1) (9,862) (14,657) (31,745) (43,054) Adjusted net income $ 28,797 $ 45,711 $ 92,693 $ 134,271 Denominator - Diluted 28,476,268 30,019,153 28,774,514 30,611,011 Adjusted diluted earnings per share $ 1.01 $ 1.52 $ 3.22 $ 4.39 (1) The tax rates used in calculating adjusted net income for the both three and nine months ended September 30, 2026 were 25.5%, which are reflective of our GAAP tax rates for the ninemonths ended September 30, 2026. The tax rates used in calculating adjusted net income for the three and nine months ended September 30, 2025 were each 24.3%, respectively, which arereflective of our GAAP tax rates for the nine months ended September 30, 2025.
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Century Communities, Inc.Reconciliation of Non-GAAP Financial Measures(Unaudited) Adjusted homebuilding gross margin excluding inventory impairment (if applicable), interest in cost of home sales revenues, and purchase price accounting foracquired work in process inventory (if applicable), is not a measurement of financial performance under GAAP; however, the Company’s management believesthat this information is meaningful as it isolates the impact that inventory impairment, indebtedness, and acquisitions have on homebuilding gross margin andpermits the Company’s stockholders to make better comparisons with the Company’s competitors, who adjust gross margins in a similar fashion. This non-GAAPfinancial measure should not be used as a substitute for the Company’s GAAP operating results. An analysis of any non-GAAP financial measure should be usedin conjunction with results presented in accordance with GAAP. Adjusted Homebuilding Gross Margin (in thousands) Three Months Ended September 30, 2026 % 2025 % Home sales revenues $ 842,493 100.0 % $ 955,162 100.0 % Cost of home sales revenues (716,082) (85.0) % (783,746) (82.1) % Homebuilding gross margin 126,411 15.0 % 171,416 17.9 % Add: Inventory impairment 19,605 2.3 % 3,180 0.3 % Adjusted homebuilding gross margin excluding inventory impairment (1) 146,016 17.3 % 174,596 18.3 % Add: Interest in cost of home sales revenues 15,873 1.9 % 15,005 1.6 % Add: Purchase price accounting for acquired work in process inventory 899 0.1 % 2,830 0.3 %Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase priceaccounting for acquired work in process inventory(1) $ 162,788 19.3 % $ 192,431 20.1 % Nine Months Ended September 30, 2026 % 2025 % Home sales revenues $ 2,474,127 100.0 % $ 2,815,365 100.0 % Cost of home sales revenues (2,054,741) (83.0) % (2,296,184) (81.6) % Homebuilding gross margin 419,386 17.0 % 519,181 18.4 % Add: Inventory impairment 19,605 0.8 % 10,951 0.4 % Adjusted homebuilding gross margin excluding inventory impairment (1) 438,991 17.7 % 530,132 18.8 % Add: Interest in cost of home sales revenues 45,385 1.8 % 41,994 1.5 % Add: Purchase price accounting for acquired work in process inventory 2,200 0.1 % 6,763 0.2 %Adjusted homebuilding gross margin excluding interest, inventory impairment and purchase priceaccounting for acquired work in process inventory(1) $ 486,576 19.7 % $ 578,889 20.6 % (1) Beginning in the fourth quarter of 2025, inventory impairment was reclassified to be included in cost of home sales revenues in the Company’s consolidated statements of operations ratherthan presented as a separate line item and prior year amounts have been reclassified to conform to this presentation.
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Century Communities, Inc.Reconciliation of Non-GAAP Financial Measures(Unaudited) EBITDA and Adjusted EBITDA EBITDA and adjusted EBITDA are non-GAAP financial measures the Company uses as supplemental measures in evaluating operating performance. The Companydefines EBITDA as net income before (i) income tax expense, (ii) interest in cost of home sales revenues, (iii) interest expense (income), and (iv) depreciation andamortization expense. The Company defines adjusted EBITDA as EBITDA before inventory impairment, abandonment of lot option contracts, stock-basedcompensation expense, restructuring costs, loss on debt extinguishment, impairment on other investment, and purchase price accounting for acquired work inprocess inventory, in each case as applicable during a period. The Company believes EBITDA and adjusted EBITDA provide an indicator of general economicperformance that is not affected by fluctuations in interest rates or effective tax rates, levels of depreciation or amortization, and other specified factors thatmanagement believes affect comparability. Accordingly, the Company’s management believes that these measurements are useful for comparing generaloperating performance from period to period. EBITDA and adjusted EBITDA should be considered in addition to, and not as a substitute for, consolidated netincome in accordance with GAAP as a measure of performance. The presentation of adjusted EBITDA should not be construed as an indication that theCompany’s future results will be unaffected by unusual or other specified factors that management believes affect comparability. Each of EBITDA and adjustedEBITDA is limited as an analytical tool, and should not be considered in isolation or as a substitute for analysis of the Company’s results of operations as reportedunder GAAP. (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 % Change 2026 2025 % Change Net income $ 12,617 $ 37,403 (66.3) % $ 73,174 $ 111,641 (34.5) % Income tax expense 3,218 10,435 (69.2) % 25,060 35,798 (30.0) % Interest in cost of home sales revenues 15,873 15,005 5.8 % 45,385 41,994 8.1 % Interest expense (income) 54 876 (93.8) % 442 445 (0.7) % Depreciation and amortization expense 5,365 6,005 (10.7) % 16,107 18,868 (14.6) % EBITDA $ 37,127 $ 69,724 (46.8) % $ 160,168 $ 208,746 (23.3) % Inventory impairment 19,605 3,180 516.5 % 19,605 10,951 79.0 % Abandonment of lot option contracts 2,320 5,159 (55.0) % 4,399 9,306 (52.7) % Stock-based compensation expense (1) 3,461 5,486 (36.9) % 10,641 13,720 (22.4) % Restructuring costs — — — % — 1,505 (100.0) % Loss on debt extinguishment — 1,361 (100.0) % — 1,361 (100.0) % Purchase price accounting for acquired work in process inventory 899 2,830 (68.2) % 2,200 6,763 (67.5) % Adjusted EBITDA $ 63,412 $ 87,740 (27.7) % $ 197,013 $ 252,352 (21.9) % (1) Beginning in the fourth quarter of 2025, the Company added “Stock-based compensation expense” as an adjustment in its non-GAAP adjusted EBITDA calculation. Accordingly, thecorresponding prior period information has been recast to conform to the current presentation and calculation.
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Century Communities, Inc.Reconciliation of Non-GAAP Financial Measures(Unaudited) Ratio of Net Homebuilding Debt to Net Capital The following table presents the Company’s ratio of net homebuilding debt to net capital, which is a non-GAAP financial measure. The Company calculates thisby dividing net homebuilding debt (homebuilding debt less cash and cash equivalents, and cash held in escrow) by net capital (net homebuilding debt plus totalstockholders’ equity). Homebuilding debt is total debt minus outstanding borrowings under construction loan agreements and mortgage repurchase facilities.The most directly comparable GAAP measure is the ratio of homebuilding debt to capital. The Company believes the ratio of net homebuilding debt to net capitalis a relevant and useful financial measure to investors in understanding the leverage employed in its operations and as an indicator of the Company’s ability toobtain external financing. (in thousands) September 30, December 31, 2026 2025 Notes payable $ 1,165,321 $ 1,102,376 Revolving line of credit 456,000 51,500 Construction loan agreements (129,450) (90,269) Total homebuilding debt 1,491,871 1,063,607 Total stockholders' equity 2,560,998 2,591,732 Total capital $ 4,052,869 $ 3,655,339 Homebuilding debt to capital 36.8% 29.1% Total homebuilding debt $ 1,491,871 $ 1,063,607 Cash and cash equivalents (86,086) (109,443) Cash held in escrow (33,740) (48,571) Net homebuilding debt 1,372,045 905,593 Total stockholders' equity 2,560,998 2,591,732 Net capital $ 3,933,043 $ 3,497,325 Net homebuilding debt to net capital 34.9% 25.9% Contact Information:Tyler Langton, Senior Vice President of Investor Relations and Finance303-268-8345InvestorRelations@CenturyCommunities.com Category: Earnings