Century Communities (CCS) has reported 26.07 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $13.34 million, or $0.63 a share in the quarter, compared with $10.58 million, or $0.50 a share for the same period last year.    

Revenue during the quarter surged 38.68 percent to $253.41 million from $182.73 million in the previous year period.

Cost of revenue surged 40.29 percent or $58.32 million during the quarter to $203.07 million. Gross margin for the quarter contracted 92 basis points over the previous year period to 19.87 percent.

Total expenses were $234.01 million for the quarter, up 40.19 percent or $67.09 million from year-ago period. Operating margin for the quarter contracted 100 basis points over the previous year period to 7.66 percent.

Operating income for the quarter was $19.40 million, compared with $15.81 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $26.44 million compared with $19.87 million in the prior year period. At the same time, adjusted EBITDA margin contracted 44 basis points in the quarter to 10.43 percent from 10.87 percent in the last year period.  

Full Year 2016 Outlook David Messenger, chief financial officer of the Company, commented, "we are encouraged by the pace of activity in our communities year to date. Based on our current market outlook, we expect home deliveries to be in the range of 2,700 to 2,900 homes and our home sales revenues to be in the range of $900 million to $1.0 billion. We continue to expect our active selling community count to be in the range of 85 to 90 communities at the end of the full year 2016."

Rob Francescon, co-chief executive officer of the Company, stated, "Our progress during 2016 has been entirely organic and a reflection of our disciplined efforts to expand operations into good markets with sound long term fundamentals. That said, we remain committed to enhancing returns on equity by investing wisely in attractive opportunities. With our recently started financing division, we will be able to provide a more complete service offering to our home buyers while generating incremental earnings."

Real estate inventory stood at $873.61 million as on Sep. 30, 2016. Net receivables were at $4.85 million as on Sep. 30, 2016, down 83.59 percent or $24.71 million from year-ago. Accounts payable surged 118.46 percent or $9.84 million to $18.14 million on Sep. 30, 2016.

Total assets grew 16.43 percent or $141.32 million to $1,001.37 million on Sep. 30, 2016. On the other hand, total liabilities were at $555.78 million as on Sep. 30, 2016, up 19.49 percent or $90.66 million from year-ago.

Return on assets moved up 10 basis points to 1.33 percent in the quarter. At the same time, return on equity moved up 31 basis points to 2.99 percent in the quarter.