Century Communities, Inc. (NYSE:CCS) Q3 2022 Earnings Conference Call October 26, 2022 5:00 PM ET

Company Participants

Tyler Langton - Senior Vice President, Investor Relations

Dale Francescon - Chairman and Co-Chief Executive Officer

Rob Francescon - Co-Chief Executive Officer and President

David Messenger - Chief Financial Officer

Conference Call Participants

Doug Wardlaw - JP Morgan

Jay McCanless - Wedbush Securities

Alan Ratner - Zelman & Associates

Alex Barron - Housing Research Center

Alex Rygiel - B. Riley

Operator

Good day and welcome to Century Communities Third Quarter Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Tyler Langton, Senior VP of Investor Relations. Please go ahead.

Tyler Langton

Good afternoon. Thank you for joining us today for Century Communities earnings conference call for the third quarter of 2022. Before the call begins, I would like to remind everyone that certain statements made during this call are not based on historical information and may constitute forward-looking statements.

These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described or implied in the forward-looking statements.

Certain of these risks and uncertainties can be found under the heading Risk Factors in the company's 2021 Annual Report on Form 10-K as supplemented by our other SEC filings. Our SEC filings are available at www.sec.gov and on our website at www.centurycommunities.com. The company undertakes no duty to update any forward-looking statements that are made during this call.

Additionally, certain non-GAAP financial measures will be discussed on this conference call. The company's presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. Management will be available after the call, should you have any questions that did not get answered.

Hosting the call today are Dale Francescon, Chairman and Co-Chief Executive Officer; Rob Francescon, Co-Chief Executive Officer and President; and David Messenger, Chief Financial Officer. Following today's prepared remarks, we will open the line-up for questions.

With that, I will turn the call over to Dale.

Dale Francescon

Thank you, Tyler and good afternoon, everyone. We're very pleased with our strong performance this quarter, including $172 million in pre-tax income. Net income of $144 million, and diluted earnings per share of $4.44. The achieved levels of pre-tax income, net income and earnings per share were all third quarter records and represented increases of 18%, 27% and 34%, respectively from the prior year quarter.