Century Communities, Inc. (NYSE:CCS) Q2 2022 Earnings Conference Call July 27, 2022 5:00 PM ET

Company Participants

Tyler Langton - Senior Vice President, Investor Relations

Dale Francescon - Chairman and Co-Chief Executive Officer

Robert Francescon - Co-Chief Executive Officer and President

David Messenger - Chief Financial Officer

Conference Call Participants

Deepa Raghavan - Wells Fargo

Alan Ratner - Zelman & Associates

Alex Rygiel - B. Riley

Jay McCanless - Wedbush

Alex Barron - Housing Research Center

Operator

Greetings. Welcome to Century Communities Second Quarter 2022 Earnings Conference Call., All lines will be on listen-only mode throughout the presentation. We will have a question-and-answer session at the end of the presentation. [Operator Instructions] Please note this conference is being recorded.

I will now turn the conference over to Tyler Langton, Senior Vice President. Thank you, sir. You may begin.

Tyler Langton

Good afternoon. Thank you for joining us today for Century Communities earnings conference call for the second quarter 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 record setting performance this quarter, including $214 million in pre-tax income, the highest in our history. Net income of $159 million, a second quarter record, and diluted earnings per share of $4.78, equaling the company record we established in the fourth quarter of 2021. The achieved levels of pre-tax income, net income and earnings per share represented increases of 40%, 35% and 38%, respectively from the prior year quarter.