Adjusted EBITDA was $76 million, with EBITDA at $66 million for the quarter.
Adjusted homebuilding gross margin was 20%, down from 21.6% in Q1, driven mainly by increased incentives.
Adjusted net income was $42 million or $1.37 per diluted share, with net income at $35 million or $1.14 per diluted share.
Average sales price decreased 3% year-over-year to $378,000, primarily due to higher incentives.
Financial Services revenues were $23.8 million with pretax income of $6.2 million, including a $4 million gain from mortgage servicing rights sale.
In Q2 2025, Century Communities delivered 2,587 homes, a 13% sequential increase and slightly down year-over-year, with home sales revenues of $976 million, up 10% sequentially.
Inventory impairment charge of $7 million was taken related to 5 communities in closeout phase, primarily in Florida.
Net homebuilding debt to net capital ratio was 31%, slightly up from 30.1% in Q1, with homebuilding debt to capital ratio at 33.3%.
SG&A was 13.2% of home sales revenue in Q2, with full year 2025 expected around 13%.
Share repurchases totaled $48 million in Q2, averaging a 37% discount to book value, with 5% of shares repurchased year-to-date.
Cash and short-term investments increased to $433 million, with no debt on the balance sheet.
Domestic revenues decreased by 8% due to project timing, while international revenues increased 39%, driven by Canadian and Middle East/Africa operations.
Electric Utility market revenues grew 31%, Commercial and Other Industrial by 18%, and traction market by 61%, albeit from a small base.
Gross profit increased by $6 million to $88 million, with gross margin improving by 230 basis points to 30.7%.
Net income rose 4% year-over-year to $48.2 million, generating a record quarterly EPS of $3.96.
New orders totaled $362 million, a 2% increase from the prior year, with a book-to-bill ratio of 1.3x and backlog growth of 7% to $1.4 billion.
Operating cash flow was $47 million, and capital expenditures totaled $5.1 million related to facility expansion and new equipment.
Powell Industries reported third quarter fiscal 2025 revenue of $286 million, roughly flat compared to $288 million in the prior year period.
SG&A expenses increased by $3 million to $25 million, driven by higher compensation and acquisition-related costs, with SG&A as a percentage of revenue rising to 8.8%.
Aircraft sales proceeds totaled $126 million from 4 aircraft, with a gain on sale margin of approximately 16%, reflecting strong secondary market demand.
Air Lease generated revenues of $732 million in Q2 2025, a 9.7% increase year-over-year, driven by a 13.5% increase in rental revenue due to fleet growth and higher portfolio yield.
Diluted earnings per share were $3.33, boosted by a $344 million net benefit from Russia fleet insurance settlements, representing approximately $2.43 per share.
Fleet net book value and book value per common share reached all-time record levels, with book value per share at $65.53.
Fleet utilization remained at 100%, with weighted average fleet age slightly increasing to 4.8 years and weighted average lease term steady at 7.2 years.
Interest expense increased by $19 million year-over-year due to a 29 basis point rise in composite cost of funds to 4.28%, with 77% of borrowings at fixed rates.
SG&A and stock compensation expenses declined significantly due to nonrecurring retirement expenses recognized in prior quarters, with SG&A stable at 6.8% of revenue.
Dafinchi