On February 02, Century Communities Inc. (CCS) declared its financial results for Q4 and fiscal 2021. The record earnings caused the stock to soar in the after-hours.
During regular trading, the stock fluctuated between a high of $67.67 and a low of $65.54. CCS closed the session at $67.02 with a mild gain of 1.67% at a volume of 500.72K shares. Following the earnings release, the stock advanced by a good 7.43% in the after-hours. Hence, CCS was trading at $72.00 apiece in the after-hours on Wednesday.
The single-family attached and detached homes developers, Century Communities Inc. was founded in 2000. Currently, the company has a market capitalization of $2.23 billion. In the past five days, its 33.76 million outstanding shares have added 7.96%. While the stock increased by 36.92% last year, it has subtracted 18.06% year to date.
CCS’ Q4 2021 Financials
In Q4 2021, the company had a net income of $165M against $91.8M in the year-ago quarter. Resultantly, the net income per diluted share was $4.78 and $2.72 in Q4 of 2021 and 2020, respectively.
Moreover, Home sales revenues were $1.2B, and Financial services revenues were $31.2M in Q4 2021. Comparatively, the same was $946.8M and $35.8M in Q4 of 2020.
Additionally, CCS increased deliveries to 2,915 homes in Q4 2021, against 2,826 in the year-ago period.
Fiscal 2021 Financials
For the full year 2021, CCS reported a net income of $498.5M, against $206.2M for the previous year. Thus, the net income per diluted share was $14.47 and $6.13 in fiscal 2021 and 2020, respectively.
Furthermore, Homes sales revenues and Financial services revenues were $4.0Band $123.7 M, respectively in fiscal 2021. This compares to $3.0B and $103.3M in fiscal 2020.
In addition, the home deliveries increased by 14% in fiscal 2021, to 10,805 homes.
CCS’ Future Outlook
For fiscal 2022, the company expects home sales revenues to be between $4.3B and $4.9B.
CCS expects home deliveries between 11,500 and 12,500 and 240-250 selling communities in fiscal 2022.
Recent Developments
On January 06, the company announced the expansion of its industry-first online home buying experience. Initiated three years ago, CCS’ online “BUY NOW” experience offers More Home, Less MoneyTM. As per the expansion, homebuyers can now buy all homes throughput their national footprint with the same ease and convenience.
Conclusion
CCS’ recent earnings report beat all analyst expectations setting a record quarter of the company. As a result, the stock made some good gain in the after-hours session on Wednesday.
