Welcome to our dedicated page for Skyline Champion Corporation news (Ticker: SKY), a resource for investors and traders seeking the latest updates and insights on Skyline Champion Corporation stock.
Skyline Champion Corporation (symbol: SKY), founded in 1951 in Elkhart, Indiana, is a leading factory-built housing company in North America. Initially known for producing affordable mobile homes, Skyline has evolved to offer a diverse portfolio of manufactured and modular homes, park model RVs, accessory dwelling units (ADUs), and modular buildings. These products serve a variety of sectors, including multi-family, hospitality, senior, and workforce housing.
Over its 50-plus years of operation, Skyline has built more than 870,000 homes and 460,000 recreational vehicles, establishing a reputation for quality and integrity. The company is committed to delivering the best products at competitive prices, maintaining strong relationships with communities, suppliers, and retailers. Notable brand names under Skyline Champion include Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes in the U.S., as well as Moduline and SRI Homes in Canada.
Skyline Champion's operations are primarily focused on the U.S. factory-built housing segment, which generates the majority of its revenue. The company continues to innovate and expand its offerings to meet the evolving needs of its customers.
Recent Achievements and Current Projects:
- Recent Acquisitions: Skyline Champion has made strategic acquisitions to expand its market reach and product offerings.
- Financial Stability: The company is financially stable, with strong revenue growth and profitability.
- Partnerships: Collaborations with key stakeholders to enhance product quality and customer satisfaction.
For the latest updates and news on Skyline Champion Corporation, please refer to the news section below.
Champion Homes and Quartz Properties have unveiled Belle Meadow, a 90-unit build-to-rent community in Asheville, NC. This development showcases offsite and modular construction techniques, offering a solution to the region's housing availability needs. Belle Meadow comprises 30 single-family homes and 30 duplexes across nearly 10 acres in the Blue Ridge Mountains.
Each home features four bedrooms, three bathrooms, and averages 1,600 sq. ft. The project demonstrates the efficiency of modular construction, with homes built off-site and finished on location. Notably, the community is opening for tenants just 6 months after the first home was set, with all 90 homes expected to be completed within one year of starting vertical construction.
Champion Homes, formerly Skyline Champion (NYSE: SKY), reported strong Q1 fiscal 2025 results. Highlights include:
- Net sales increased 35.1% to $627.8 million
- U.S. homes sold increased 35.7% to 6,538
- Total backlog increased 28.2% to $405 million
- Average selling price per U.S. home rose 3.0% to $91,700
- Net income decreased 10.7% to $45.8 million
- Adjusted EBITDA increased 12.2% to $75.0 million
The company experienced increased demand, reflecting benefits from strategic investments in retail expansion and addressing the growing need for attainable housing. However, gross profit margin contracted by 170 basis points to 26.2%, and SG&A expenses increased due to acquisitions and higher variable compensation.
Champion Homes (NYSE: SKY) has appointed Laurel Krueger as Senior Vice President, General Counsel and Secretary, effective August 1, 2024. Krueger brings over 20 years of experience in corporate governance, securities law, and regulatory compliance. She previously held leadership roles at Express, Inc. and Kontoor Brands, Inc.
CEO Mark Yost praised Krueger's extensive background and alignment with Champion Homes' values. The appointment follows the retirement of Robert M. Spence, who served in the same role for five years. Yost acknowledged Spence's contributions, particularly in strategic expansion initiatives such as the acquisition of Regional Homes and investment in ECN Capital.
Skyline Homes, a Champion Homes brand, has been named America's Most Trusted® Manufactured Home Builder for the fourth consecutive year. With a Net Trust Quotient Score of 98.5, Skyline Homes secured the highest trust rating among prominent builders in the manufactured home industry.
Trust is important in today's competitive housing landscape, as it influences customer purchases, long-term brand commitment, and referrals. Skyline Homes builds trust through:
- Designing homes to enhance buyers' lifestyles
- Dedication to quality materials
- Exhaustive quality control process
- Ongoing customer support beyond closing
Champion Homes President and CEO Mark Yost emphasized the company's commitment to excellence in quality, customer experience, and satisfaction.
Skyline Champion (NYSE: SKY) has announced the release date for its first quarter fiscal 2025 earnings results. The company will disclose its financial performance after the market closes on Tuesday, August 6, 2024. Following this, Skyline Champion will host a conference call on Wednesday, August 7, 2024, at 9:00 A.M. Eastern Time to discuss the results.
Investors and interested parties can access the live conference call through a webcast on the Investor Relations section of Skyline Champion's website. Alternatively, they can dial in using the provided domestic and international phone numbers. A replay of the call will be available until August 21, 2024, accessible via phone or the company's website.
Champion Homes has been honored for the tenth year in a row with the Manufactured Housing Institute's (MHI) Excellence in Manufactured Housing Award. The company received accolades in two categories: Modular Housing Design and Manufactured Home Design - CrossMod®. This brings Champion's total design awards to 24 over recent years.
President and CEO Mark Yost attributed the success to the collaborative efforts of the Champion team. He emphasized that design is a priority for homebuyers who seek homes with striking features and superior craftsmanship. The award-winning models include features like open layouts, luxurious primary suites, and sophisticated kitchens with premium finishes.
The Westridge 1203CT model from Skyline Homes features an open layout, a primary bedroom with a walk-in closet, and a spa-inspired en-suite bathroom. The Atlantic model from Excel Homes offers four bedrooms, five bathrooms, a navy blue kitchen island with brass details, and a fireplace.
Yost emphasized the significance of MHI's history and industry knowledge, stating that these honors are especially meaningful. MHI received over 80 submissions in 18 categories, and winners were chosen by peers and an independent panel of experts. For more information, visit ChampionHomes.com.
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.
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