Century Communities (CCS) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

CCS

Century Communities (CCS - Free Report) reported $844.19 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 27.6%. EPS of $1.60 for the same period compares to $4.78 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $728.76 million, representing a surprise of +15.84%. The company delivered an EPS surprise of +66.67%, with the consensus EPS estimate being $0.96.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Century Communities performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Number of homes delivered: 2235 versus 1857.33 estimated by three analysts on average.
  • Average sales price of homes delivered: $366.20 versus the three-analyst average estimate of $382.95.
  • Selling communities at period end: 233 compared to the 239.5 average estimate based on two analysts.
  • Backlog at end of period, number of homes: 2002 versus 2332.6 estimated by two analysts on average.
  • Net New Home orders: 2317 compared to the 2249.6 average estimate based on two analysts.
  • Revenues- Home sales: $818.36 million compared to the $711.20 million average estimate based on three analysts. The reported number represents a change of -27.9% year over year.
  • Revenues- Financial services: $24.28 million versus the three-analyst average estimate of $14.07 million. The reported number represents a year-over-year change of +6.5%.
  • Revenues- Total homebuilding: $819.91 million compared to the $714.70 million average estimate based on three analysts.
  • Revenues- Land sales and other: $1.55 million versus the two-analyst average estimate of $5.25 million. The reported number represents a year-over-year change of -82.4%.
View all Key Company Metrics for Century Communities here>>>

Shares of Century Communities have returned +0.8% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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