Century Communities Ends Q3 With Record Community Count

Century Communities (NYSE: CCS) ended the third quarter of 2026 with a company-record 343 active communities and expanded its Dallas-Fort Worth presence through the acquisition of HistoryMaker Homes shortly after quarter-end. The transaction increased the homebuilder’s pro forma community count to 372 and supports its strategy of gaining scale in existing markets.

The acquisition, completed on October 7, added Texas’ longest-standing production homebuilder, which focuses on entry-level and move-up homes in Dallas-Fort Worth. Based on September 30 figures, the combination expands Century’s Dallas division from 12 to 41 active communities and increases trailing-12-month deliveries from 211 to 669 homes.

Century said it will maintain a contractual relationship with HistoryMaker’s affiliated land development company, which was not included in the acquisition, and plans to pursue additional land opportunities with that business in Dallas-Fort Worth. The company has completed and integrated 10 acquisitions since 2013.

National footprint and land position

Century operates across 16 states and more than 45 markets through its Century Communities and Century Complete brands. For the 12 months ended in the third quarter, total revenue was $3.7 billion, excluding Century Living. Century Complete represented about $0.9 billion, or 25%, followed by the Mountain region at $0.8 billion, the West at $0.7 billion, and Texas and the Southeast at $0.6 billion each. Financial services generated approximately $0.1 billion.

Century Complete accounted for 36% of home deliveries during the period. Texas represented 20%, the Mountain region 16%, the Southeast 15% and the West 13%.

At September 30, Century controlled 60,969 lots, with 55% owned and 45% controlled through other arrangements. Texas accounted for 30% of the portfolio, followed by Century Complete at 26%, the Southeast at 18%, the Mountain region at 16% and the West at 10%.

Management said the owned lot supply represented about three years of deliveries. The company expects finished-lot costs in 2026 to rise by a low-single-digit percentage from fourth-quarter 2025 levels. Its option-based land strategy is intended to limit upfront investment and provide flexibility to exit positions at a reasonable cost during a market downturn.

The existing lot supply and community base could support delivery growth over several years once market conditions improve, according to the presentation. Century’s growth plans remain focused on deepening its position in current markets through organic expansion and selective acquisitions.

Capital returns and balance sheet

Book value per share reached a company record of $90.61 at September 30, up from $89.21 at the end of 2025. Century repurchased $71 million of shares through the first nine months of 2026, representing approximately 4% of outstanding shares. The company’s annualized 2026 dividend was $1.28 per share, based on a quarterly dividend of $0.32.

Century reported $864 million of available liquidity and a net homebuilding debt-to-net-capital ratio of 34.9%. Its debt facilities include a $1.2 billion unsecured revolving credit line maturing in November 2030, $500 million of 3.875% senior unsecured notes due in August 2029 and $500 million of 6.625% notes due in September 2033. The company has no note maturities before 2029.

Financial services and operating focus

The financial services unit generated $94 million of revenue and $31 million of pretax income in the 12 months through the third quarter. Its mortgage capture rate was 84% in Q3. Average FICO scores for third-quarter closings were 722 for Century Communities customers and 714 for Century Complete customers.

The company continues to emphasize affordable and attainable homes. Century Communities uses traditional model-home and online sales channels across a range of home types, while Century Complete primarily targets entry-level buyers through retail outlets and online sales. Century Complete operates a fully speculative, land-light model based mainly on acquiring finished lots.

Century identified affordability, consumer confidence, interest rates, inflation and employment conditions as key uncertainties. Other risks include tariffs, supply-chain disruptions, labor and material constraints, municipal and utility delays, financing availability and costs, incentive levels, land availability, competition and mortgage-lending exposure. The company also noted integration and execution risks related to HistoryMaker Homes, including the possibility that the anticipated benefits of the acquisition may not be realized.