CCS - Earnings call transcript Q3 2024 | Century Communities, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings. Welcome to Century Communities Third Quarter 2024 Earnings Conference Call. [Operator Instructions] Note this event is being recorded.

I will now turn the conference over to Tyler Langton, Senior Vice President of Investor Relations for Century Communities. Thank you.

begin. may You

Tyler Langton

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

risks Before subject this could would certain the based XX-K statements. uncertainties on statements. and from I that materially remind expectations are number call that and described implied of Certain current those under of forward-looking heading XX-Q the these everyone and by can results are Factors These to differ filings. latest like statements the uncertainties statements a may in cause or call to during other found actual management's constitute as to be in forward-looking the SEC our made and Risk begins, company's supplemented latest risks

our no statements. duty update undertake to forward-looking We

accordance measures Additionally, not information this the Scott Dixon, Rob be or as for certain Officer. with presentation this Officer a considered and Francescon, isolation discussed President; is company's financial Officer; information The conference and in financial substitute GAAP. Co-Chief will Executive non-GAAP call. of are intended presented call Dale Chief be Chairman Co-Chief to Hosting on in the Executive and Francescon, today Financial

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

Dale Francescon

Good Tyler. you, afternoon, Thank everyone.

for are balance of results with of XXXX in well beyond. our positions very us the pleased XXXX, the We the third which quarter and year

home of X% year XX% increased increased of by XX%, posted third sequentially and communities. company XX% and quarter billion a quarter-over-quarter, and a prior . while revenues XX% of quarter versus of count were $X.X Deliveries year-over-year the XX% Our respectively. gains homes community XXX to sales and record X,XXX our new record

margin of adjusted of second XXXX in quarter was levels with XX%. XX.X% homebuilding roughly line gross Our

year-over-year our XX as we costs. SG&A to of XXX points leverage continue percentage by fixed and sequentially basis our basis declined sales a home revenues points as While

sales. to Turning

West increased X,XXX year XX% saw Century new of Tesis Our during in contracts all regions third by by prior of our Complete versus growth the We by XX% quarter the quarter. net increasing with XX%, year-over-year. XX% quarter, by and the

quarter, October so from sequentially as the increased moderated August September our in buyers orders mortgage far the in recent and September, have orders adjust rates. levels while in Within our increase to both

if community Looking remain per order out fourth consistent holds, to a basis. our the sequential seasonality would quarter, activity we to expect on typical

average sales homebuilders. remains Our publicly was lowest traded among price of and quarter in the $XXX,XXX the the

we Century point purchasing to in people Given a as for benefit think this focus from greater a to our new and feel price qualify any both positioned is should more future well and lower of homes, entry-level declines number affordable on rates allow home. rates comfortable mortgage

quarter. in buydowns. third Additionally, supply And quick of market spec built approach, were captive our with to financing nearly move-in XXX% subsidiary, basis provide mortgage interest on and the our the low homebuyers of a at with an allows of appropriate our certainty homes us rates this through along homes maintain

Home XX% year company, the carry of more first and consistent rates requirements full conventional and FHA, healthy deliveries third mortgages interest by levels remain those below VA XXXX payment of FHA mortgage half are mortgages help the of captive quarter, FICO were and XXXX. and homes over typically down that In below the that scores Loans and priced or closed our homebuyers of make The loans our with Inspire affordable. XX% from our limits USDA, were

Anglia consistent acquisition with of to strengthened X Homes a the want to capital-efficient Landmark to we over call Homes, to top acquisition this with homebuilder existing our our access briefly growth which At also our talk Before deal deepening was Rob, about outlook. go-forward of turning our share to markets our completed July, in finished Similar our back the land-light while January, homebuilder market. end our I increasing a the in of of second year manner strategy acquisition lots. Houston this the in in position

both the acquisitions detailed given for delivery will XX% basis well we we in next count growth, fourth year and our to so starting more deliveries couple our in annual XXXX think community provide growth lot more XXXX quarter organic XXXX, of drive an the over positioned far and with through guidance While count this or of are on years. our we earnings, growth

as from returns now We drive to corporate the over improved our at investments in to come and local our to share level we turn the position detail. we discuss growth and markets, existing the Rob I'll to have the throughout expect operations our markets leverage this and margins made level. call more increasing our at and land within both

Robert Francescon

our mentioned, Dale wanted lot that you, I count have and start, community growth future good details Thank Dale, the as and provide well positions for everyone. growth. to that we To afternoon, some in on seen us further

On we third lots, ended with XX% increase. and XX,XXX owned year-over-year a the controlled quarter land front, the over

XX% a of reflective at of from the Complete end lots and the percentage are population to Our the growth. and affordability, accounted our and third Century attractive Southeast these quarter. increased basis benefiting by highest total controlled strategy the year-over-year our our count, relative lot company's in for XX% employment our strong on lots grow Texas, and in XX% of accounted total presence of that markets our for history

acquiring is with Southeast, of our Century our focused lots. the developers all in relationships land Additionally, of Complete the strength on strategy supports across and markets further finished Texas third-party land-light that

year, also up In support X,XXX starts our the in year count quarter. the started community in are deliveries prior this and home which the encouraged quarters X,XXX future far homes in so will We we quarter, the ahead. in XX% our started growth from we the third growth by homes,

of total of end level highest an accounted the in XXXX. on third from up quarters count with and XX% versus for the X history and Year-to-date, Texas, our XX% XX% XXX, company's third Century period. in XX% Southeast of sequentially. ended the year-over-year of the to We X,XXX basis Similar first our year-ago we homes, the quarter count, quarter, of through XX% up started a community Complete and lot community our count, the increase the a

third sequential quarter, added basis XX in with a On communities XX the we Anglia contributing communities.

represent Given XXX the year, of in so we count far XXX, community expect of year-over-year midpoint. XXXX community year-end the which this growth growth in our count XX% be our at range to the to would now

on success with homes roughly on costs. to sequential continued quarter in Turning controlling direct had we a construction basis. costs our costs declining the by X% third We in our started

maintain by costs supply and leveraging to our able been stable, national the expanding base have our construction direct We across footprint. both and trade

X by improve remain During the cycle our basis in quarter, to X X and week continue sequential a times levels. on third months the to about pre-COVID

to basis expected, closed in of the As approximately quarter up third an incentives XXX in average increased homes XXX quarter. from basis points points, on our the second

second our we through the quarter the rates earnings in our as call, As orders on in third second deliveries quarter. flowed the on mortgage to increased our new discussed these moved quarter incentives higher and sales on incentives higher

we quarter Our look incentives in slower approximately increased to months as in orders the on points the sales basis third of the appropriate seasonally of to year. level new maintain an XXX

in While we flat side cost remarks, despite performance third margins our will are on as third quarter. pleased margins the adjusted with more in quarter a higher sequential Scott provide his gross were details our basis incentives on gross the in on roughly the

had Most and spot world's Newsweek's of Trustworthy Companies be for second entire company In earned could following recently team recognition, list been of Companies also culture which highest want for to the on to the building achievements that in the of a a thank XXXX. row I Century and proud closing, possible. ranked all both I team on Newsweek's year highlight these Most list in our our news more voted earlier partners that trade America's of made year Century worthy Trustworthy that XXXX, want homebuilder this We not members the a

in now over our to I'll the results Scott call financial detail. turn to more discuss

John Dixon

income the XXXX, for income of $XXX.X In per per third diluted Rob. $XX Adjusted $X.XX million $X.XX net XX% quarter million. quarter deliveries prior was Home $XXX.X average or sales $XX or EBITDA you, and and pretax million were EBITDA price. diluted the was up and both share. million the sales versus third $X.X for billion, income net . was Thank the revenues was adjusted was share. year higher $XXX.X quarter quarter million on

average X% price $XXX,XXX increased X% basis a Our sequentially. year-over-year of by and on sales

$XXX.X backlog homes million, X,XXX rates West, posting by the quarter Century end, price year saw growth of was of increased prior of average Texas, Our with the homes valued all our period. growth of At Complete, $XXX,XXX. X,XXX at all our regions and versus across sold XX% with XX%. Mountain, an over deliveries We

this $XXX,XXX. was of to the our the deliveries homes, full is price XXXX our year above average be quarter percentage to backlog While sales price price deliveries, the ] expect continue largely of and mix, our difference Complete including of Century average sales average we for due [ quarter third third to approximately

third largely versus level gross percentage was a quarter. homebuilding the In compared adjusted XX.X% prior driven XX.X% in prior quarter, the gross by Homebuilding change to margin margin of sequential homes. on higher closed was incentives The the quarter. XX.X% XX% in was

reduction XX basis second in quarter margin basis price our by purchase reduced XX accounting third Additionally, XXXX gross point versus the quarter. points

a to have impact on sales and quarter XXXX. fixed achieved revenue while fourth to home reduction sales homebuilding first by deliveries period. both was third compared impact We through quarter of percent a levels the We half expect in year price XX.X% our the of margins the growing in price. similar the the in as off G&A of purchase tailing XX.X% our accounting controlling gross this average with SG&A ago our

XXXX continue at to leverage the we expect as investments years. expect home we with further a level the corporate we couple the we divisions and XXXX, support sales should of our the revenue a our year-over-year decreases delivery both over next have on made SG&A as decline in of growth that in percent basis For to

to last were from in were services margins quarter, the by in more on impacted Consistent as third $XX.X prior Revenues mortgages a quarter million financial million with market. $XX.X quarter. originated year the competitive compared

Additionally, revenues portfolio. a for adjustment were servicing mark-to-market by impacted our quarterly

We to investments systems the people and also business. of to in the make support continue growth

year prior XX.X% the rate was quarter. the In quarter, our third to compared XX.X% in tax

to our rate XXXX XX%. XX.X% We for to year expect full the range be in of tax

compared XXXX levels homebuilding the a of will fourth sequential our deliveries and XX% and largest driver basis acquisition capital continued ratio which under higher net quarter of support throughout net change Anglia in our was debt construction, this in a second The of XX.X%. on homes was Our quarter to growth XXXX. XX.X% and of to increased by Homes level

our the quarter, maintained of $X.XX quarterly per we dividend During cash share.

share to $X.X At XX% year-over-year million per value the total billion to stockholders' ended book in and a record quarter We with had growth, $XXX.X XX, $XX.XX, support our our grew liquidity. a increase equity. in we September

June Additionally, no ample our have XXXX, leverage senior debt maturities until of flexibility providing with we management. us

to guidance. turning Now

we the of full to our for of of XX,XXX Given the increasing year X the to revenue be billion. XXXX progress be quarters guidance our range in XX,XXX sales the are range through home the $X.X homes, $X.X first to billion our and to year, in deliveries

In remains for some the spring the to new affordability. affordable mortgage closing, from demand rates past declining and improvements has highs in healthy led this homes

us costs for in in positions deliveries questions. well community beyond. that, and growth strong With in line I'll the Operator? count have successfully and and so our managing open times growth our XXXX seen further for far year, are this We which cycle

Operator

first Our BTIG. with Reichardt . comes Carl Instructions] [Operator from question

Carl Reichardt

Nice to time. Appreciate talk the to you.

eventually lots. lots So option option or on in increase quick about, last just think of sort going third-party complete especially bank lots. you're deal? so, finished now or on It's question say, year percentage versus to contracts land X of I are with controlled self-develop additional balance option X,XXX, relative let's option sheet What put developers, those to related [indiscernible], traditional lot the to

Robert Francescon

above. . mix Carly. of but mix wouldn't those of really predominantly of in It's It really one be buckets, of it's all above, the the all of a a

Carl Reichardt

is So I about how split generally evenly, it? of should sort speaking, think

Robert Francescon

a at look to Yes, way good that's think I it.

Carl Reichardt

then Okay. the concept on And Great. have strategy a long-term XX% bigger and I question picture growth goal.

share. same stay and And that's than store share market a So you've growth talking the gain. then stores near taking about term if growing the count got with faster the absorptions your obviously, market, you're

about market As think you you can think who take from? it, you do share

the lot the you do think of based a in a for from count the and especially doing headroom is of specifically And the And be, lot I as public towards there. think How in you've go? share pretty got peers there East markets? is those might stuff, you markets West mix actual kinds on low-end -- where small the other away shift gains what strategy Texas

Dale Francescon

challenges Well, availability markets Nashville the lending, homebuilders. different come both seen, and of we variety competing think to lot us in, capital, look of a a private share. the we going that having homebuilders. homebuilders allowed a reflected a the fact homebuilders, it's with they I year, public, market that of When private we've standpoint increase our that acquisitions peer we're while public is this lot X Houston first of private from place from private in have are to by competition, the at done the And constraints the we've of from have as just which there's

when we pick look we community growth. count see that And So up it, our at think highlighted you I growth. area the we that's that additional primary can

look that really growth we So in of land that's when where increased our our terms we portfolio and pipeline, we coming see from. at have our that

Carl Reichardt

And presume additional organic Or the does is to as all done? just acquisitions you strategically? clarify, think what that just about XX% beyond it you've

Dale Francescon

at at we always look at point, we're our increase share it's looking primarily It's within an to this opportunities, acquisitions market. different primarily organic. existing When while

said, that history with company. over X as Now public we've acquisitions done our a

But exists. -- geographic we'd come it we're opportunities they around. currently look happy our we're with So spread as at very as

get to our our in increase that. really, of that leverage the markets each So and is goal deeper get we from

Operator

Seaport question next the Research . from Zener Partners. And with Ken comes

Kenneth Zener

please? was, number start your what repeat you Could

John Dixon

[ [ Ken, low was for it's X,XXX the grab the exact we'll it X,XXX number, ]. ] quarter, here the in

Robert Francescon

Yes, X,XXX, was months was XX the through It . it X then was and XX,XXX. ending September almost X,XXX.

Kenneth Zener

Okay. Great.

of production, obviously we've starts spec guidance above the the we as expect that Now your of from. level that that starting up thoughts us Is to above in you your come to the quarters your persist inventory, orders, the which there last Could running let's orders related seen strategy closings building, give versus to a should which quarter some X X? say, over next, or fills orders? or

John Dixon

generally this generally a a is kind in as discussed vary. mean quarter-to-quarter. will we periods from with be to that take I'll speaking, cadence we're be excess perspective of starting especially in Dale sales Ken, from Yes, spec alluded we from time excess growth, I of certainly closings, we'll longer-term and Scott. of as where That over starting a of may that and builder, one. looking

us I on position start think . supported strong. start that the throughout opportunities we saw and and XXXX the out year, units to frankly, this those us to good a put a community-by-community finish quite in year level

Kenneth Zener

of context to a that between, for the buydowns. price relative then what said reductions could incentives now incentives, around and think And and appreciate being -- say, Could do were was I points. you I split last those it let's I assume XXX quarter -- us incentives, XXX give commentary I But and new. the Excellent. your mortgage you you which that apologize basis

John Dixon

absolutely, Sure, Ken.

QX basis generally as And of Both averaged -- to XX-XX on for mortgage around orders last that basis points. split around true quarters. been those X the consistent X incentives XXX QX between XXX has on as quarters relatively orders incentives approximately kind points, well So incentives. price ran incentives split around

Operator

Riley And the with B. Alex next from comes question FBR. Rygiel

Alexander Rygiel

might up the were model sequentially, only XXX Incentives quarter? this was how about Was as your Quick basis rates it in margins quarter? second adjusted on adjusted XX lower yet think gross gross reported margin the the driven basis question. in follow-up we fourth quarter we by later incentives on points. orders the for points And down

John Dixon

and of on gross the the Yes. takes a going into handful obviously are the side. on margin items puts that There's

the on look speaking, in at offset, adjusted incentives. was when basis material items margin are saw gross There's you them the of quarter-over-quarter it. by generally driven the XX that back and reduction So there step points none from of but really other particularly we that some

on bit We direct that some from relatively flat savings we little -- fairly to from sit cost some be on Larger costs front, in perspective, side. margin feel prepared continue where QX. to QX, with direct incremental our very cost see been land side the a stable remarks we made anticipate we we land the macro consistent. our commentaries the currently have on more perspective,

the -- majority those the the margin cost the driver. point, directionally from the main really, necessarily So or a incentives, of from driver me, in basis variability X:X on obviously, the but in will are not come excuse side, a

Kenneth Zener

they're in that's the either that communities the the maybe more appreciate I then Anything And themselves. product size kind deliveries. at of helpful. of opened in communities growth view sold notable XX% market the recently, longer-term were That's in, or least in new the being of the

John Dixon

driver No. management Century do for ] to a to team do communities a especially We've to consumer but the target We run any the mix from had our that our of or community incrementally of from Complete continue a within focus of little per increase after as we're our really bit that, the more product continue lots communities, [ a our rate, from our markets. nothing from number significant going side. on of

I items or regarding I would communities any specific that the don't or if being point nature . opened out are color of know period-over-period. mix So our the there's that

Kenneth Zener

cancellation any quarter? lastly, your in in notable And rate the change

John Dixon

getting the kept both levels our rate subsidiary. delivery have the at capture of financing they're low very buyer consistent. home is as of one It's captive timing cancellation has But mortgage not significantly profile And historically. especially of ensure to they as our No, items be model, disclose. well the those understand that rate from spec homebuilding continued our we benefits something the specifically our that to very that it with

Operator

with & Associates. comes Zelman question next The Alan Ratner from

Alan Ratner

be, pace follows I remainder said think expect clarify, of I the And would wasn't sure to think XQ kind on if the were at was the you follow-on quarter? you the that October. I I similar through where of or mentioned clarification just heard to just kind I XQ order based think I far it absorptions sequentially. that. market versus Dale question, referring And wanted a what question so to to stable or seasonality, of you're then you if of have normal I in steady kind First

Dale Francescon

quarter that if the for reference was a [indiscernible] whole. as

So of in terms commentary... the

Alan Ratner

QX. versus QX

Dale Francescon

it, the September we October, impact We've some some the in months QX seasonality with higher at when to strongest. remarks, probably the QX was the quarter quarter versus as as look in But be similar expect seen to we said I some yes, QX. was, rates had as look my over X of QX. When that coupled on in prepared we what we experienced that absorptions well. a at in whole,

Alan Ratner

Okay. That's helpful.

So is, because it's some to rising know little when tricky count on community numbers it of and the is this mid-quarter. just a acquisition the had you've at rate I put kind your

about to I sure same want want make way the I just to you -- So I'm are. it thinking

with community point quarter I to average communities, over your for XXX point. is over take the count but XQ ended closer if XXX, You

X a month per pace. roughly sales that's So

So on is that what that's you're of guiding or community... you're thinking not what XXX-plus the guiding,

Dale Francescon

the mean for it, and makes I the I quarter, we the our the the communities, of at -- have when since didn't at think entirety Anglia end we sense. quarter. count that look of you

there. You get a a of bit distortion

at out. are the nearing close above we with QX communities be it up, we Indian X/X still Anglia related the will that, even we on of acquisition, of The QX. But that of what those at count we the XX other look picked the thing new had end expect to increase community our about

Alan Ratner

can trends, one, then diversified if geographic on. geographic obviously, of going seeing, standpoint. ask kind lot pretty what Very you're A from a helpful. another And I you've just

across either the et the any impact But you of that of any on didn't had Southeast. orders, potential and I winners up cetera, impact closings, any from bring at storms footprint highlighting margin, quarter. and the really terms worth You the in all storms in hear fourth there. in kind losers your

Robert Francescon

storms. sales storms, there again, the really any speaking, were generally a lose Alan, slowed we of to But closings relating the didn't from So end quarter. down perspective, the toward slightly, It nothing our many probably by the what from material closing means. that

Thankfully, damage, the today, safe. So all those in personnel are homes all raised a the any wasn't standpoint, negative of plane. any to didn't the employees flood areas have were really any material a it built all, way of up, in We from the effect. damage our now houses from way they're they're our standpoint, out and

are So how having are it's really and the newer the generally the older built. homes that issues homes

we very well. are So spared

it us. I . So at to impact of wasn't big way, when that look that really it an

Operator

next from McCanless Securities. question Wedbush comes Jay with

James McCanless

the what guess closing on could first a I closings or Anglia one, basis or in either guys basis, XQ? for dollar unit you disclose contributed a revenue

John Dixon

the Sorry, Jay, to was that specific Anglia?

James McCanless

closing closing for either Yes, what the to Anglia. or quarter? they contributed revenue

John Dixon

of small Yes. the this from delivery got working end us of by full They integration will X%. be less of done perspective, of system were Again, month. and the than the time relatively timing -- Anglia and impacts we've acquisition a conversions the transition, through [indiscernible]

itself, it front. quarter a relatively closing So minor on driver the for the is

James McCanless

Scott, about we the on type then from the of puts Anglia takes purchase if XQ impact, accounting expect should some talking deal? margin. and XQ, with any, were gross And of What you

John Dixon

as as will well as move XXXX. forward in into a Great there be Yes. QX question drag early we because

as XX XX work QX all itself points. QX was points to and XX in we in So QX same potentially starting through or trail maybe basis of to to the QX those next then expect be off units. year basis I that in would itself

James McCanless

a talk All question had then question maybe of I Just what Anglia. also the they could you of sense more 'XX closings annual one type run that business rate for had on give be? the right. maybe about in or us what That's helpful. And just other 'XX? Could --

Dale Francescon

primarily model XXX finished develop on their in them, Interesting, master fairly buying buying lots. us basis we were is business the Consistently, developers controlled stand-alone either That They are Houston lots communities. -- ones in a didn't market lots. builder. them coming own in Yes. from private lots, at then there from mean of for time they standpoint on focused XXX I a they some appeal in and finished quite closings planned between business were when pipeline look as additional are their or the was part robust And they a was a of our the you nature. to that year. and got were doing a

from our on not us Houston, deeper So basis there. and do is which standpoint, to as it a up is to a something our of to that get at operation long-term like allowed to pick ongoing able a pipeline positive market we be we a in basis an and on have finished that looked development addition lots very to

James McCanless

one I sorry, And have question. more did

some moved So maybe this Is net to about should assets, the of cap as now. is year-end start we to Anglia over move these 'XX talk on to us upper should at and acquired? the bound Landmark where that down that? through XX% over call you [ both near expect time we work max has XX% the And you've see debt to Or from, term? it, that ]

John Dixon

that working perspective kind thought from we range likely that Jay, comfortable end is Yes, in Scott. the leverage. to said Really XX% down. that but it doing is process be that always up consistent this our would XX% of We've on would we something

perspective the during homebuilding cap finish year-end. cycle, a -- cash see we think investments quarter perspective and from as from of you'll think we I monetize, you'll a the that, WIP that some comes that especially have that see . done by likely down Anglia the as net to debt I we other

Operator

Rehaut the question and comes Michael with . JPMorgan. next from

Andrew Azzi

This have cost to increases any out. love lot targets put would is Andrew Mike. or really long-term on thoughts potential assumptions you next into you the Azzi hear for I appreciate year? towards I

John Dixon

into would It's a cost the for for to I next a half year's next you into closing. early That from be contract normal And speaking, future identify get we year. QX, our lots side, in that that perspective. fairly side it in as we're Especially able finished back consistent to can immediate would fully lot the like and Century land still dial incremental on into inflation Complete can to that the looks -- tell on we're from what call, then little we I early remain all stable cost the generally will 'XX. of start QX. anticipate, of

Andrew Azzi

how right it. of then getting in really inventory, guys Florida Houston you've that. uptick on increased curious are now into any markets? competition viewing just of your just more Texas been appreciate people I'm side in and terms I the Got seeing and in specific kind And you with if your

Dale Francescon

Well, has there. peer public competitive always of a been There's general, lot market. a that's Texas in competition

some that One of large the advantages scale is its allows leverage we in more on own. fixed very at costs. example. us It's market to look a being larger Houston, of there our for Having

us. And so as when we positive for look at that, we see it just being net a

It of from at look we Florida. gets Florida, bit just time. it's to have When time Texas In lot exposure -- competitive. don't it's the today's market. positives to tremendous competitive a about a But a we world, there's

of of about X our got I think out XX% we've brands. Florida coming closings between our are

the Our state. Complete throughout spread Jacksonville, Communities is in brand and is Century Century

well look where Jacksonville, to softer we areas concentration we Complete, certain there when that have that we fairly Communities probably and we seems for since look at see others. than So we are be that are have up the Century us. that, largest holding both at Century And

Operator

comes Housing next Alex Center. Research . from The question Barron with

Alex Barrón

strategy, -- expect we that there? a transition, cetera? wanted Or to do to like sizable number products of current Or it would is with continue they make change that fairly like you et do I operate? Anglia a phased their if it guys to focus you more Homes, something it communities, will, like operate Yes, it's the guys you given way what on

Robert Francescon

a on transition, to but product runway for new whether just a and in left transition It's product sense will Yes. much the wait depending particular we how community, a now library makes forward, or utilize but going communities. our in it's phased it phased is go change

Alex Barrón

Okay.

operate. guys along sellout, would as some be . of new lines ones the more basically, you way the So the

Robert Francescon

the and the just there fit -- their just business really product and it, for in our consumer very Dale was similar engineering great lots, thing, we to us. model model. buying, it But business and when a our only Yes. at that's plans have mentioned, a entry-level and acceptance. But efficiency Alex, truly was value look as And finished then you

Alex Barrón

And running guys differently you to would have do it? Or the pace, in they expect been terms would something pace sales you similar? you increase of had do be to sales at

Robert Francescon

But would it think say pace. we always increase hope just would Well, I I for be potentially we sales to think similar. right now,

Operator

concludes I Dale would to the question-and-answer turn over our for like closing session. remarks. back any this to conference

Dale Francescon

the call, growth year Communities. excited you with for we've beyond. in look very the by thank and the of interest pleased beginning your for speaking Century and To again at year on of balance this time the year seen . We're next solid our you outlook XXXX today forward everyone and with We the to

Operator

Thank now for has The conference you presentation. concluded. attending today's

now may You disconnect.

Century Communities (CCS) 23 Oct 242024 Q3 Earnings call transcript