Century Communities: Leverage to ‘tick up’ as company grows, expands

By Devika Patel

Knoxville, Tenn., Feb. 5 – Century Communities, Inc. management expects leverage to rise as the company continues to fund its growth and expansion plans.

“We've got cash on the balance sheet and undrawn revolver, and we've got the ability to fund growth and expansion plans we have from free cash flow and our balance sheet and so leverage will just tick up around you as we continue to fund our business,” chairman and co-chief executive officer Dale Francescon said on the company’s fourth quarter and year ended Dec. 31, 2020 earnings conference call on Thursday.

EBITDA increased 87% compared to the fourth quarter of 2019, to a company record of $144.7 million.

Total liquidity was $1.1 billion as of Dec. 31, 2020.

Century Communities is a Greenwood Village, Colo.-based builder of upscale single-family homes, townhomes and flats.

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