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RNsidersbuying

07/28/20 4:30 PM

#74811 RE: cliffvb #74780

CCS 36.50 - posted strong numbers:

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Century Communities, Inc.(CCS) , a leading national homebuilder, today announced financial results for its second quarter ended June 30, 2020.

Second Quarter 2020 Highlights Compared to Second Quarter 2019

Adjusted net income increased 71% to a record $40.3 million or $1.21 per diluted share and net income increased 148% to a record $38.5 million or $1.15 per diluted share
Home sales revenues increased 23% to a record $747.4 million
Home deliveries grew to a Company record 2,480 homes or 26%
Net new home contracts increased 22% to a Company record 2,664 homes
Homes in backlog improved to 2,778 homes with a value of $962.8 million, a 23% increase
Adjusted EBITDA increased 50% to a record $74.0 million
Quarter end total liquidity of $860 million, including cash of $220 million
Net homebuilding debt to net capital improved to 37.5%
Dale Francescon, Co-Chief Executive Officer, stated, “We delivered a record second quarter including the highest sales, closings and absorptions in the company’s history while further expanding our profitability despite the ongoing challenges of the COVID-19 health crisis. Our impressive results are strong evidence of a robust homebuilding environment, supported by tight resale inventory and historically-low mortgage rates, and increased demand for our affordable, new homes. Based on the strength of our year-to-date results, we remain confident that positive, industry and company specific tailwinds will continue to fuel sales growth across our diverse, geographic footprint.”

Rob Francescon, Co-Chief Executive Officer, said, “With our record double-digit sales and closings in the second quarter, we continued to execute on our strategic goal of capturing an ever increasing share of entry-level homebuyer demand. We accomplished this task while reducing our net homebuilder debt to net capital ratio to 37.5% from 46.6% at the end of the first quarter, a 910 basis point improvement. We ended the quarter with a healthy backlog of 2,778 homes valued at $963 million dollars, a 23% year-over-year increase, as we continue to create long-term value
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researcher59

07/29/20 8:38 AM

#74860 RE: cliffvb #74780

MHO (39.43) posts a huge beat -

briefing -

M/I Homes beats by $1.00, beats on revs (39.43)

Reports Q2 (Jun) earnings of $1.89 per share, excluding non-recurring items, $1.00 better than the two analyst estimate of $0.89; revenues rose 14.6% year/year to $714.5 mln vs the $597.88 mln two analyst estimate.
Homes delivered in 2020's second quarter increased 19% to a second quarter record of 1,835. This compares to 1,538 homes delivered in 2019's second quarter. Homes delivered for the six months ended June 30, 2020 increased 22% to a record 3,330 from 2019's deliveries of 2,724.