Century Communities Inc. (CCS) stock soared 5.2% in Thursday's intraday trading session, following the release of its better-than-expected fourth quarter 2024 earnings results and an optimistic outlook for 2025.
The homebuilder reported record quarterly deliveries of 3,198 homes and home sales revenue of $1.2 billion in Q4 2024, driven by a 15% year-over-year increase in full-year deliveries to 11,007 homes. Despite elevated incentives used to boost sales amidst higher mortgage rates, Century Communities improved its adjusted gross margin by 80 basis points to 23.3% for the full year.
Looking ahead, Century Communities raised its guidance for 2025, forecasting deliveries in the range of 11,700 to 12,400 homes, representing approximately 10% year-over-year growth at the midpoint. The company expects to leverage its expanded lot count and community count to drive this growth, while benefiting from operational efficiencies and lower SG&A expenses as a percentage of revenue.
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