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Skyline Champion (NYSE: SKY) announced its Q4 and full-year fiscal 2024 results. Q4 net sales rose 9.1% to $536.4M, with U.S. homes sold increasing by 15.3% to 5,652. However, gross profit margin decreased significantly by 1,040 basis points to 18.3%, impacted by $34.5M in remediation costs for water intrusion issues.
Adjusted net income fell 37.7% to $36M, and adjusted EPS decreased 38.6% to $0.62. For the full year, net sales dropped 22.3% to $2B, with net income dipping 63.5% to $146.7M, primarily due to lower home sales and higher SG&A expenses.
The company announced a $100M share repurchase program to enhance shareholder value.
Skyline Champion (NYSE: SKY) has announced that it will release its earnings results for the fourth quarter and full year 2024 on May 21, 2024. The company will hold a conference call on May 22, 2024, to discuss the results. Investors can listen to the call via webcast or by dialing in. The replay will be available on the company's website.