TPH - After Seeing Strong Upside Century Communities Deserves To See More
2024-04-25 15:53:05 ET
Summary
- Century Communities, Inc. reported strong sales and profits for Q1 2024, exceeding analysts' forecasts.
- The company delivered 2,358 homes, a 23.3% increase from the previous year, and the average price of a home delivered was $391.2 thousand.
- Financial services revenue increased by 57.2%, leading to a 98% growth in financial services pre-tax profits year over year.
- Leading indicators look bullish, and Century Communities shares are cheap as well.
Usually, when a company reports earnings for a fiscal quarter, and those earnings, as well as revenue, exceed analysts’ forecasts, shares of the business in question rise nicely. But that's not always the case. Sometimes, even an impressive performance can go unrewarded. And the latest example I could point to regarding that involves a home builder by the name of Century Communities, Inc. ( CCS ). Shares of the company dropped about 4% on April 25th despite management reporting strong sales and profits after the market closed on April 24th....
After Seeing Strong Upside, Century Communities Deserves To See More