Champion Homes, Inc. produces factory-built housing in North America, with a portfolio that includes manufactured and modular homes, ADUs, park-models and modular buildings for single-family, multi-family and hospitality uses. The company also provides construction services for installation and setup, operates a factory-direct retail business in the United States and runs Star Fleet Trucking for manufactured-housing transportation.
Company updates commonly cover quarterly operating results, U.S. and Canadian home sales trends, product mix, retail-channel activity, offsite-built home showcases, completed acquisitions, share repurchase activity and leadership or board changes. Results announcements also discuss GAAP and non-GAAP measures tied to net sales, gross profit, net income and Adjusted EBITDA.
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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