CCS - Earnings call transcript Q2 2020 | Century Communities, Inc.

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Operator

Greetings, welcome to the Century Communities Second Quarter 2020 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to Hunter Wells, Vice President of Investor Relations for Century Communities. you. Thank

begin. may You

Hunter Wells

you XXXX us earnings Thank Communities for second quarter conference for afternoon. today joining Century Good call.

from number this be in Before those actual like forward-looking the factors cause may that SEC the are recently materially report Form on course constitute most in these made to are These information uncertainties beliefs, and management's to filed heading company's would not or a results the of other on the described based filings. differ remind everyone forward-looking XX-K statements. risks subject could implied and on call found that risk of of certain supplemented and begins, historical and Certain as call the our are I current annual uncertainties risks statements and in based statements. can under statements to expectations by

at www.centurycommunities.com. forward-looking no on filings and our are SEC that are at statements to available duty call. made during website Our this undertakes www.sec.gov update company The any

Additionally, after Messenger, and not and available Co-Chief Officer; Officer; Officer. substitute presented call GAAP. get be be in this or company's a Executive call. The today Executive the any be financial the Dale information Financial discussed of with did intended isolation have will certain this financial conference David presentation Chairman considered Francescon, is will Francescon, answered. as should call on questions in not non-GAAP that accordance you information for measures to are Hosting the Chief Rob Management Co-Chief

over I With the up line will will questions. today's Following we prepared turn call the Dale. remarks, that, to open for

Dale Francescon

our described last April, across of partners, our and to implemented continue and the while trade everyone Hunter homes the build, call. we team health we On good being call our strategic on homebuyers, national close members, and well platform. protect to Thank homeowners to actions and afternoon in the sell you,

undertaken liquidity. being debt reduce and to generate cash steps increase also our We discuss flow,

a with As significant the quarter the which we're expanded back new importantly, home double-digit pleased including and growth, decisions, our very in of period generated at about and with rapidly highest and we uncertainty, actions look quarter net only but revenue those exceptional second profitability, deliveries actions taken, these results home more were ever new made contracts. not

to deliveries increased rate highest month five a homes. a in strongly with to to months record sales an net enjoying in history. Following far and Home impressive increased in rebounded XX% on year-over-year has company's sales the new X,XXX improvement so XX% record Adjusted a XX% income July. increased April, a which year-over-year per in million X% decline a community, $XX.X contracts, in June $XXX per May XX% and net trend increase a XX% even million to increased absorptions revenues both the

year to In a addition over efficiencies on significant sales progress sequential compared to XXX basis home our improvement second the we declined goal of as to SG&A percent last XX cost basis improved quarter our top the realizing and of our made business. and across XX.X%, this improvement line, quarter point year. of an first bottom point

we ongoing measures the We reduction from in the to took earlier year. savings expect cost realize

at the ratio team's national net the price of model for business basis and of from homes and improvement execute substantial XXX capital footprint. balance took our environment, down results our uncertain and entry are of the demand sheet $XXX credit debt leverage strong to line on also million new net our adaptability full quarter. playbook to on difficult to meeting navigate points through ability evidence level a Collectively ongoing across steps our while dramatically our these to a and XX.X%, We strengthen by paying our the first improving point

capabilities, like. two Over to the online the and further money transfers investment and continued quarters, homebuyers electronic serve digital and contracting earnest video of the tours through expand reservation technologies to we've employ last virtual and use appointments, our walkthroughs,

our home with explore features communities, appointment face personally customers click onsite purchase some that with enhanced they and operating connect of distantly but the a the coordinate offerings, on apply offer may offices all Even to browse a homebuyers the chat all. where without online Depending preference, have product not at platform, can agents, and not appointments. the we on salesperson. or opportunity a meet our through sales face still a interface directly ask for We actually to basis, button mortgage only with an questions with only and online buyer’s our need to

carefully wrapped digital company mitigate one any Because chain managing year-over-year their company convenient the focused basis potential to experience. and financing increased financial services intently on capabilities, improved stop these to efforts virtual supply We've also total traffic of a provide been quarter. also our interruptions. in Our XX% a web on second closing

price cases, building if to move delays rapidly to that without a provide Our on supply a or treatment address enable is these Not but extensive preferential at to material many us increases. agreements relationships finding alternative at of becomes with any chain national arise. swiftly only team and may materials challenges us our in do a forward network enable the our scarce, adept built cost is supplier comparable partners project

our team business, our saw work certain due positioning, costs, successfully effective delivery strategy a and resiliency of execution growth online circumstances. challenges we to our product of during closings. of As sales the unexpected continued our sales our results robust and quarter, the issues any managed second second to robust sequential teams month-over-month The Throughout tools. through adjust to strength or without the reflection the is missing and and on improvement sales of additional our arose and be agile of incurring we a these ability the quarter,

for urban a ongoing The rate guidelines social the from high significantly. our X%. resulting while A is of June, apartments XX% pandemic lack XX% market, As advantage of rates, have within a as demand the in homebuilding cancellation witness time place. the is averaging competition areas first experienced of for one fueled more quarter. homes has from decreases search in distancing of century to from allowed home resale areas year-over-year in progressed, inventory less the market has and which the work new of brightest working sales remotely every to XX% home experiencing of opportunity migration for spots arrangements and to the and costly interest low an major country. we taking in new quarter positive and the industry XX% homebuyers remote to the decrease in helped purchase both urban less as fell outbound nearly home The low taking historically half below are demand for economy, macro-environment. extremely resale we increased The Buyers homes new an nationwide in

We support are will trends confident these continued positive our for demand help homes.

that public local named While list, the Builder Communities this scale year our footprint the our the Century to many initiatives and growing the but centers, on for market were July, our long-term as BUILDER's homebuyers has in business. challenges, we again various placed homebuilder XXX as is share quality on in been acknowledgments across and and of these row, third by also increasing sites further unforeseen a Century, reflect largest We team have we In believe executing builder. employees the our nationwide fastest was across ninth ranked year our not marked in a offices. sales country, committed trust only our construction national

this are unprecedented We team, homes our have truly their grateful and to attention year deliver exceptional maintained for to quality customers. effectively service and entire throughout our who focus

Looking potential our ahead, we continued positioning performance and across remain encouraged high with markets. competitive

improvements operational beyond. over to ability our the XXXX XXXX performance, deliver in drive and to now I’ll of our confident the markets are shareholders, our to enhancement in to long-term future detail. turn in business into balance and growth further We Rob discuss our support call more and over value

Rob Francescon

afternoon, Thank everyone. good and you

Across a of net a home net diluted the to We our we have $XX.X to from income country. we XX% operate, supply, increase. results XX% historically deliveries of respectively low we backlog difficult year. and the quarter $X.XX Year-to-date, COVID-related one rates a in of or rise record environment. XX% high Dale and Not a currently first tremendous X,XXX was new second of XX% record last of X,XXX states accomplishments months increase. value XX of a and did As deliveries the $X the increase, cost adjusted share. no increase quarter both which to over per the a a and the a new mentioned, increased record X,XXX areas and only six homebuilding year-over-year given apartments contracts homes increased within record We and XX% million contracts restrictions, net with home the very XX% with $XXX million homes interest ended constraints and the exodus of have

Our our share into most public Century expand, our XX% of increase homebuyers continued XXX at all this was the sequentially the Complete demand average brand the orders scale home ownership to to brand of over sales With price we capture new at homebuilders second an XX are are of XX% quarter, entry level positioned these product up $XXX,XXX penetration delivering and the increasing possible. price among uniquely portfolio same experiencing and increased positioned our strongly period. we affordable In that grow points. seeking meet while the to and level homes new states, a

to Complete our to We beyond make future investments growth have high our its Century markets. will support business within asset-light and line expansion and both existing continue into

XX% destination remote seeing in as level entry has We a a increase an evidenced demand and new relocation. income tax, cost as low increase net work absorptions, to are driven well in year-over-year of Texas in state of as for become no similar Texas U.S. by deliveries. our contracts, increased trends for opportunities for top region, appeal and living, homes The XX%

are In all relocating Austin, Houston millennial Antonio cities ranked fact, for and as top workers. San XX

ASPs robust new capitalize us Our positioned to in well home demand. this further range with portfolio of Texas XXX,XXX has the offerings on

net of within which year-over-year persist, top well in migration increased City this believe increase region sales the built growth region restrictions backlog rate double-digit in market continued The by growth our for migration. demand probably our increasing lowest unemployment with up us. We country, product to up and and a performance mountain Our a mountain growth home highest by remains percentage strong to at as move Las Even resulted employment high Denver, XX% XX% XX% the state has trends. home continues interrupted region Utah positive positive metro partially in share These as has eased. XX% XX in economy. high experience of in well which throughout in achieved healthy year-over-year. our driven with XX% homes continues perform will contracts sales with growth demand in region, second In market. respectively. Century new position growing market Salt its and stay the a Vegas, enjoyed supported up was net that new significant as quarter level diverse, Lake this in deliveries entry and absorptions vibrant and in traffic market the for both Southeast order resulting tailwinds

year-over-year resurgence particularly improvement experience seen this every in we one we builder segment. month level market, a in the second is sales fact, Century markets of the this in within Atlanta in each our and entry largest demand region. within In have

Southeast homebuilding backlog at robust Despite We of one most We the strong Charlotte of restrictions. shelter and being and which are demand in increased severely region, closed across terms also XX% our year-over-year. California parts a affected Washington ordinances, of areas home Nashville. and and of quarter earliest the homes closures at seeing with

expensive steady a XXX improvement of Many across we double-digits Our approximately affordable and progressed. as other quarter foreseeable to this saw in employees we increase a suburban cities demand drive employers homes, with which have of second to and future increased recently the areas, up for homebuyers sequential home likely XX% XX% exurban the West the work believe continue California, ended of respectively an as region orders Washington in XX% and areas on quarter homes. will may and remotely their more demand for country, will of basis. our announced new Deliveries new that support year-over-year the and and out backlog

we of year-over-year. made the and more early an essentially increased reduced uncertainty flat adjusted discontinued Even the increased than the practice in in have incentives approach through June we was margin this second every clarity, with sales the decision market use quarter drive pace. the deploy Given in market. since and to incentives homebuilding to With this gross market much existing, defensive quarter, prices of our

third to backlog, the fourth our at margins Looking we quarters. in and expect improve

land all and last most our land discussed April, starts. in spec As we and on acquisition, home investments we call ceased development,

activities quarter As with the we along homes. restarted and development new progressed, acquisition

As had which lots XX% of the owned controlled are end of nearly of the owned. second already quarter, XX,XXX we and

Looking remain our affordable capture level Century entry continue growth And will to we to our foundation focused brands financial who initiatives now to outlook. and on position of results over our high Dave our our national platform. share quality, carry of homes update a call we will markets. both will out built was drive and ahead, of singularly on detailed an growing a strong strategic market performance, provide to improved on share turn I expand built homebuyer in the across increase demand.

David Messenger

Rob. you, Thank

per increased to a record record $X.XX $XXX.X Home XX% revenues share, per X,XXX million, net and of company net or for share. $XX.X to million diluted an $XX.X record a new $X.XX company increase compared income and million the the the of a increased to deliveries driven income increase homes increase increased improvement or XXXX, XX% prior in was XX% a in quarter. During quarter million XXX% home contracts net adjusted revenues quarter to second year of at prior and consistent a XX.X% interest the diluted quarter prior in record year in compared by our percentage sales This from in impairment at homes level $XXX.X a second to capture essentially margin to higher Adjusted $X,XXX primarily delivered XX.X% which was to X,XXX. decreased selling Homebuilding quarter. margin of quarter price with gross and average price XX in slightly basis driven flat the in additional compared our entry $XXX,XXX share percentage to homebuilding of homebuyers XX.X% the XXXX inventory prior gross quarter, by costs. decreased XX.X% The plan points. for is to the to second points to

SG&A prior improve Looking back quarter, result our ahead, prices compared XX.X% year. XX.X% to to market. increased margins and a to the of pulled percent revenue, in as XX we points home a This on we have as expect the in sales improved each incentives home basis second in was of financial our The pre-tax business million company. and efforts million to XXXX, XXX% $X.X the services income business our million prior costs in year continued generated $XX.X the past contain the operating in revenues, and quarter leverage in improve $XX our In up compared quarter. year-over-year. to of second contributed

loan quarter we unrealized financial second of due larger increased reported first primarily were of our enabled Our recoup improved and results loss quarter. to which our a that $X credit non-cash to markets, operation us in number stabilization approximately million in the services efficiencies originations the the valuation

fortifying increase growth from well benefited closings performance, as and we enable pandemic. related our business balance to quarter, capture ongoing any on second the the homebuilding loan quarter, disruptions challenges strong our weather For the platform. continued from as and substantial resulting to sheet we second both business margin increased across and in strengthening our COVID-XX in economic rates progress In the our made to

result our debt XX.X% the the first net quarter-end, quarter, swift to significant XX.X% of quarter as under million our XX.X% we During we during in We prior to continue million, were our down down of credit to progress at fully that regardless action our cash of of year. our capital was the of the substantially April, the the and quarter, undertook the $XXX are operate the quarter, $XXX million XX.X% to feel further significantly In our previously well to we positioned liquidity the quarter. second quarter. a credit quarter, end from in March compared approximately the rate million and availability position, includes our compared XX.X% of environment. $XXX homebuilding which goal communicated ending and and leverage we business of strengthening line net on improved second $XXX total with with facility. to made pay At able the same of the Consistent in year prior to reducing financial tax

Given the results second our strength sales and continued of quarter momentum.

guidance providing and $X.X be range homes the billion. $X the full to range to are be of deliveries homes year home in of to X,XXX in sales revenues We X,XXX billion to of

fourth weighted as Our the towards starts deliveries will in delayed early a the be quarter more of result the that second occurred quarter.

demand footprint. recent diverse demonstrate environment and across tailwinds homebuilding our rising results positive by Our a vigorous geographically new supported

in We deliver an macro-economy. our any weather line and and strategic the with is serving on the entry value forward to financial financial and strong the to for objectives across position enhancing Operator? for I'll look uniquely level our business sheet certain remain broader that, positioned changes Our our long-term homebuyer, emphasis solid open questions. a shareholders. on With balance ability to

Operator

Zelman from Instructions] Our is question [Operator first and proceed. with Thomas Maguire Associates. Please

Thomas Maguire

and the all in color unprecedented for job Thanks times. great navigating

more the equation, But this a any basis fell adjusted prices? how adjustments as on power magnitude a reset it maybe on side COVID geographic of pricing back one-time any to net were weren't there can issues I there with for commentary the you moving forward? of shows level. Just price still demand after recent step there taking broadly, think you the the companywide on then think July you And where and more sense pricing a or the point action was about pockets is a just give or the

Dale Francescon

spectrum all this they're When is our of of markets, we Thomas across well. Dale. look the So performing all

across increased incentives platform. whole the reduced prices have We and

was that ability So there's that. outlier to nothing do the with an

where was committed it to really and point. things of as the out. far stood going a we to play homes that function had quarter, We how want incentives knowing moving the certainly behind were the As were didn't that not to get just of at curve. at we on beginning We the

quarter in being significantly us we to constrains they we incentives as then clarity reduced, were do more as go don't reducing we So prices see continue started June, from that And on, increased. anything getting the continued as the to and forward, started able we were that.

Thomas Maguire

it, that's just in impressive you of I in you got terms Got be to backdrop, allocating remarks, here? guess, really was of capital things know And confirm in you more current or today's running any prepared in what where do do expected done, the confidence to you progress can helpful. the or comfortable forward? so what availability were the really this macro position, than there made the go you and from if period at on quick but think kind back level into leverage, wanted quarter relatively inventory then to know you the a just various time. on will some that of of that market about the enough thoughts and Is how we in moving cash and buckets you alluded repurchases

David Messenger

say I is are today from you quarter-to-quarter. two. net comfortable today are think we business over basis, where we're Thomas, leverage from fluctuate operate can that this with growth while time-to-time We or the see and Dave. would know and that, at we itself support can leverage a year we plans next XX.X% cash that that as flow the on where and our

and cash reasons look we into definitely the continue the land. for reinvest for opportunity to business whether inventory As allocation, growing it's that flow back through see there's the capital business, an out we us to

Operator

Michael is JPMorgan. Please from with Our next proceed. Rehaut question

Michael Rehaut

Congrats on results. the

across is sustainability of and order trying Just focus kind is it's a in So kind just June also give it a for obviously be mid both other growth? which than of even of the if of type mentioned by May hotter? the were July or In part magnitude and board of industry, and we really around will helpful or wanted lot you to degree driven in up any Obviously, July better or that rate. and sense incredibly are about to you exit July an well that's sense certain modeling been to get had XX%. for correctly of XX%, the markets a think, I the the community of which XX% of us expectations doing triangulate, acceleration XXs high of getting in how count for just setting if type but talking June words, growth, what

David Messenger

year. that, it's we're say I Mike, would XX% Dave. July last almost above

percentage into So June trend, see It's a continue and one And it's focus, would our I to across strong not markets. market that is increases. nobody May exiting say we just July. dominating,

So and getting markets XX just as first days month. through stronger the the of we've the gone it's really better

Michael Rehaut

Dave At incentives so margins, in into for be also June the because of gross you I also improvement little you're then a the dipping magnitude of nice that quarter. bit you degree the helpful in pricing appreciate earlier there's bit on at transparency obviously, any a if same shy And sequentially and You in the in and time, there started terms expect that. XQ a type off in XQ improvement mentioned increased Thanks, the July? essentially year, little of assume now would looking XX%. of there. the And

doing You the half XXXX. XX% were above actually back of in

any directionality there be So of helpful also? would type

David Messenger

a right see would QX, below GAAP and an bit moving on is in the at margin basis, again. basis XX.X% a more XX% but our on so as Dave we going and back prices, and QX, incentives we're is do for climbing This we direction and say, backlog, directionally were gross in QX. little adjusted I pulling

that see depend and on really will do round up but ends sales magnitude the improvements, we quarter. we the some third what out order closing, of through So how

Michael Rehaut

the guys another have mean, a or this markets, one standpoint? over the better last your Okay, and year plan acquisition. getting one, meter you've growing of is months, standpoint I few could markets, at about in years, kind through that leverage landscape you the bigger out several changed nicely the in opportunistic more take your look in from or markets Dale. appreciate the at? in expanded Obviously terms across maybe that primarily want M&A XX sneak the that. Rob of risen wanted, focus talked your and obviously, picture months for Has I Century primary last One I existing last has from or you over if And deeper to last of Complete? maybe six some and still SG&A would all

Dale Francescon

five focused got growth. what mean, M&A were the in primary still Mike, have our years our it in so it I we're to messaged got to that's of came, we're pick to that growing And rely we or Century of before the Century we're every else over goals say found we did if all share. closely. our to expand Communities that tremendous but we if one right footprint. Complete really markets, deepen same. our this up our said as depth - we focus terms with on really very market remains do And existing we Dale and existing additional wouldn't we where in but is. every again, opportunity, alternatives. is at We've the of not markets, something optimistic But business. need always markets, of But looking think the in our would at we certainly look on And don't that a ability we our one last We've

Operator

Rygiel Our is Riley Please question next proceed. FBR. with from Alex B.

Alex Rygiel

relative Can comment year, you margin A quarter. of congratulations last on a quick both the average broadly business price and and you, year-over-year. and relative to first fantastic to nicely the questions here, on selling is this the Complete Century sequentially Thank business? Century legacy profile up couple

David Messenger

of it, it's some with the to to terms last only gone acceptable, as We've we've as not And add some but we of reduce business. the in scale construction revamped in as more continuing product. connection well to costs. Well product to it through, increase our continued both efficiencies we've operation year, also in make of that consumer

new to we see you lot continue us we so, a And competition, do. move to improve at look continue it's And when have just don't which we forward. a price lot our go is, home that up of to our prices and where as - point allows which of cases, you'll to think intend I

Alex Rygiel

And an growth relates greater? region, that it could your opportunity there for the then and to the business even West to you a sort points lower you, mountain of as to step is accelerate down price in could

Rob Francescon

point been offerings months attractive price last I where we've candidly, offerings XX compared as for mentioned, least doing are Well more months And we ago. or new so. XX Alex were just that at at to about the our lower

So we do and the continued to have do that that, to we'll future. continue in

Alex Rygiel

the arises? then XX% that's or pushing leverage to to closer fantastic. have an ratio you lastly, the And back new it XX% if this norm below interest still Is if opportunity

David Messenger

Alex this is Dave.

As I from we I business. where funds earlier are but it with continue mentioned And think, think comfortable will quarter-to-quarter, the we're leverage to now. fluctuate right we

Operator

Barron proceed. Alex from is Housing Center. question next Research with Our Please

Alex Barron

I wanted to focus in on the financial services business.

you and can the forward? the something you I expect quarter, going this in that on whether revenues we So both profits. hoping expand guys And had could a increase was significant pretty and that's

David Messenger

we as usage Inspire, a look drove on called given and a the system, the say to builder May up how revenue would the the tied Inspire. we of how are much of it rates up will incentives moving to those we application of would bit into homes quarter the very our that had and of which a at back to I April began with rate, successful profitability. and second we the homes And capture company in-house the credit then mortgage lot incentives little drives of those a capture and going But on obviously forward, dynamic helping marketplace loans say, still us increased to secure lot I seeing profit. off of allowed selling markets a are a the that good of margins on secondary being within usage to capture be that able business. lot

rates of capture so, the do that will business the business the somewhat the from ultimate dependent increased closing expect be that ultimately, on And the to while seeing, loans. sale that the on profitability and on We side application - of be progress. as quarters

Alex Barron

So this sense? a don't say the or give last rate year, capture last what versus quarter quarter was

David Messenger

On business. blended the capture more came rate, probably because Century quarter. Century rate, of the a side, XX% On From sales were steady rate in about at were for Complete through just a second a an across XX% over we that your application that's side, we XX%. steady XX%

Alex Barron

compare that does versus quarter? How last

David Messenger

What right the the look got probably, Century in was businesses it capture year and you the XXs for was just I've was in at me mid the front low last you of that started XXs. rate Complete last we the in is know teens, application high and Century year

on we double So more nearly, than the Complete side. Century did we

Alex Barron

there. significant pretty so Okay,

the this be growth pretty less but guess obviously Complete quarter, Wade a last now guess I Century or versus has to I Jurney seemed Now guys sequentially it the every little year, good region but some business had bit as you nice opportunities higher of called that was now? the like or do at Century that segments Do rest feel the guys how similar for you strong. or as you of look the for like right are

Rob Francescon

significant third you'll of that business homes now was what inventory In a we start of that that and so brands land took since beyond. we think board as of them, because acquisition the is pause into part homes undergoing acquisition. impacted saw business It in then on impacted dependent land quarter the amount don't our by before is we land function see terms and really as sell it's is of opportunity. highly the recover both go then we that we that and business. And of is don't the really closing really quarter most that a new across opportunity, has we the our land second you on What in starting

Operator

And Jay with our proceed. McCanless question from Wedbush Securities. next is Please

Jay McCanless

expect in this I business legacy rest of for year? community question Century had, rate the first the So a growth for we should the what

David Messenger

Our expected. communities selling was sequentially we originally some but through obviously, year-over-year, community faster count on ended down than up

many restarted to like we've that we to Now we'd see of the there, as as back the some come some we're third development, those have now, have. push are developments, any push to communities in to fruition. quarter. Right under trying development trying we We we and much out as communities them don't fourth have guidance but online

them. monetize can putting assets by on they So the homes

Jay McCanless

problem started? you And about to Century until it land buy backlog on part of second but in to if Alex land rate business sales lagged Complete row? the because orders be your down and talked were going the And Complete need able Century that the your Because buy and the stole quarter, the get business? those question a you rest the is rest more to homes up is, and the for of up to and related of is lag there start all catches for to being a was my quarter was growth before? not much like How of

Rob Francescon

lag number we the The was significant really on of had occurred won’t that that We there. controlled it lag sheet. balance is a bring just lots, but

homes. result, a couldn't as start the we So

of of that in controlled care we completely issue itself. back took then terms on that once turn So closing the lots,

Jay McCanless

expect? that bit in we faster what we So, being expect should a something line the should Complete more with rest legacy we little go the sales year as Is of line assets. through pace the with in

Rob Francescon

yes. Yes,

Dale Francescon

Yes.

Jay McCanless

Okay.

I business price half mix the rate backing higher being timing Complete price. strictly question are front certain into going legacy of guidance some it on for and a to just that sales sales an homes? price is delivering going Is other be had, the The back half. of there's average growth at step the to your year higher be average when just the like the in and versus the Looks communities looking just behind or the Century

David Messenger

Complete legacy a point? versus does mix overall to what It's we matter matter have Century that business. price online, come - it's as communities our and comes do new both, the the really of it's a much just through how And

Operator

This Dale closing like to back hand for over concludes I to remarks. will Q&A call the the portion.

Dale Francescon

homebuyers Thank thanking close commitment our and taking you to for customers, deliver entire you homes, our investment to another appreciate our and Century look superior and quarter. entire substantial team join support by to to Their for inspires the speaking value time experience like this buying forward appreciated ongoing work, valued We and continued our their for to growth an your creation provide is resilience achieve today. our next exceptional period. and to stakeholders. and of dedication us organization year for robust throughout and quality I'd challenging deeply hard home

Operator

today's Thank conference. you. This concludes

at and you your thank disconnect may time lines your participation. You for this

Century Communities (CCS) 28 Jul 202020 Q2 Earnings call transcript