Champion Homes Stock Price, News & Analysis

Champion Homes, Inc. (NYSE: SKY) is a producer of factory-built housing in North America. According to the company’s public disclosures, Champion Homes focuses on manufactured and modular homes and related factory-built structures that serve single-family, multi-family and hospitality sectors. The company describes itself as having more than 70 years of homebuilding experience and operating dozens of manufacturing facilities across the United States and western Canada.

Champion Homes states that it offers an “innovative portfolio” of manufactured and modular homes, accessory dwelling units (ADUs), park-models and modular buildings. These products are designed for a range of end uses, including primary residences and structures for multi-family and hospitality applications. The company builds homes under multiple brand names in the factory-built housing industry, including Champion Homes, Genesis Homes, Skyline Homes, Regional Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, J. Redman Homes, ScotBilt Homes, Shore Park, Silvercrest and Titan Homes in the United States, and Moduline and SRI Homes in western Canada, as disclosed in its news releases.

Business model and operations

Champion Homes describes its core business as home building using offsite, factory-based construction. Homes and other structures are built indoors in the company’s manufacturing facilities, then transported to their final locations. The company reports that it operates 46 manufacturing facilities throughout the United States and western Canada in several of its news releases, and in one acquisition-related release it notes 48 facilities, reflecting the impact of that transaction.

In addition to building homes and modular structures, Champion Homes reports several related activities that support its factory-built housing model:

• Construction services to install and set up factory-built homes.
• Factory-direct retail operations, with the company stating that it operates a retail business with 72 or 82 retail locations across the United States, depending on the specific period referenced in its press releases.
• Transportation services through Star Fleet Trucking, which provides transportation services to the manufactured housing and other industries from several dispatch locations across the United States.

The company’s disclosures also describe a vertically integrated approach that connects manufacturing with retail distribution and logistics. In a news release about the definitive agreement to acquire Iseman Homes, Inc., Champion Homes highlights its strategy to expand its retail footprint and strengthen distribution from nearby manufacturing facilities. The company notes that Iseman Homes has operated retail sales centers in the Dakotas, Minnesota, Montana, Nebraska and Wyoming, and that this acquisition is intended to support its integrated growth model.

Factory-built housing focus

Champion Homes emphasizes offsite construction as a central element of its operations. In a news release about being featured on the television program Designing Spaces, the company explains that its homes are built indoors in manufacturing facilities where they are protected from the elements. It notes that this process allows for a streamlined, coordinated workflow under one roof, with a centralized workforce and quality control across the build process.

In a separate release describing a visit by U.S. Department of Housing and Urban Development (HUD) executives to a Champion Homes facility in Leola, Pennsylvania, the company highlights the efficiency and consistency of its factory-built model compared with conventional onsite construction. The release states that the centralized, coordinated workforce helps address labor cost and shortage trends in the construction industry and provides year-round work in an indoor environment.

Geographic footprint and brands

Champion Homes reports that it operates manufacturing facilities in the United States and western Canada, and that it builds homes under multiple regional and national brands. The company’s news releases list a broad set of brand names, including:

• Champion Homes
• Genesis Homes
• Skyline Homes
• Regional Homes
• Athens Park Models
• Dutch Housing
• Atlantic Homes
• Excel Homes
• Homes of Merit
• New Era
• J. Redman Homes (also referenced as Redman Homes in some releases)
• ScotBilt Homes
• Shore Park
• Silvercrest
• Titan Homes
• Moduline (western Canada)
• SRI Homes (western Canada)

These brands reflect the company’s presence across various regions and product categories within the factory-built housing sector, as described in its public communications.

Retail and distribution

Champion Homes’ public statements describe a factory-direct retail business that sells homes through company-owned retail locations in the United States. The company indicates that the number of retail locations has grown over time, with references to 72 and 82 retail locations in different news releases. In the Iseman Homes acquisition announcement, Champion Homes notes that Iseman’s 10 retail sales centers will be integrated into its retail network, with the goal of aligning local presence with the company’s manufacturing capabilities.

The company also explains that it ships homes through multiple channels, including company-owned retail sales centers and community sales channels. In its quarterly earnings releases, Champion Homes attributes changes in the number of U.S. homes sold to factors such as increased shipments to community sales channels and increased sales through company-owned retail centers.

Transportation services

Champion Homes reports that it operates Star Fleet Trucking, which provides transportation services to the manufactured housing and other industries. According to multiple news releases, Star Fleet Trucking operates from several dispatch locations across the United States. This transportation segment supports the company’s ability to deliver factory-built homes and related structures from its manufacturing facilities to retail centers and final sites.

Financial reporting and non-GAAP measures

Champion Homes is a public company listed on the New York Stock Exchange under the ticker symbol SKY. It files periodic reports and current reports on Form 8-K with the U.S. Securities and Exchange Commission. In its earnings press releases, which are furnished as exhibits to Forms 8-K, the company presents both U.S. GAAP financial measures and certain non-GAAP financial measures.

The company defines Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted EPS in its earnings releases. It explains that these measures are used for business planning and to assess operating performance from period to period by excluding items it considers not representative of its core business, such as restructuring charges, impairment of assets, charges related to remediation of specific product liability claims, and costs associated with acquisitions and integrations. Champion Homes notes that these non-GAAP measures are not intended to replace GAAP measures and may be calculated differently than similar measures used by other companies.

Capital structure and credit facilities

In a Form 8-K dated July 29, 2025, Champion Homes discloses that it entered into a Second Amended and Restated Credit Agreement providing for a revolving credit facility. The filing describes a $200 million revolving credit facility with a letter of credit sub-facility, extends the maturity date of the facility to July 2030, and outlines interest rate terms based on the company’s consolidated total net leverage ratio. The credit agreement includes customary covenants, such as a maximum consolidated total net leverage ratio and a minimum interest coverage ratio, and allows borrowings to be used for working capital, capital expenditures, permitted acquisitions, permitted restricted payments and other general corporate purposes.

The company also reports that the revolving credit facility is guaranteed by the company and certain subsidiaries and is secured by a first-priority security interest in substantially all of their assets, subject to specified exceptions. Optional prepayments are permitted without premium or penalty (other than breakage costs), and certain mandatory prepayments are required from specified asset sale and indebtedness proceeds.

Share repurchase program

Champion Homes has disclosed a share repurchase program in several press releases and related Form 8-K filings. In news dated May 30, 2025, the company announces that its Board of Directors authorized an increase of $50 million to its existing share repurchase program, bringing total capacity to $150 million at that time. Subsequent Form 8-K filings in August and November 2025 describe additional Board actions to increase or refresh the available authorization for share repurchases.

The company states that repurchases may be made through various methods, including open market or privately negotiated purchases, and that the timing and amount of repurchases depend on factors such as stock price, business and market conditions, corporate and regulatory requirements and alternative investment opportunities. Champion Homes notes that it is not obligated to repurchase a specific amount of shares and that the program may be suspended or terminated at any time.

Corporate governance and leadership changes

Champion Homes reports changes in its leadership and governance through Form 8-K filings and news releases. For example, a Form 8-K dated December 2, 2025 describes the appointment of David A. McKinstray as Executive Vice President, Chief Financial Officer and Treasurer, effective January 12, 2026, succeeding Laurie Hough. The filing outlines key terms of his employment agreement, including base salary, bonus opportunities, long-term incentive eligibility, a one-time sign-on award of restricted stock units, and severance provisions subject to certain conditions.

Another Form 8-K dated August 15, 2025 describes one-time special equity awards in the form of restricted stock units granted to certain senior members of management under the company’s 2018 Equity Incentive Plan. The filing states that these awards are intended to support business continuity and stability and provides target award values for specified executives, with vesting over three years subject to continued employment or as otherwise provided in the plan and award agreements.

In a Form 8-K dated November 12, 2025, Champion Homes discloses the resignation of Eddie Capel as Chair and a member of the Board of Directors, noting that his resignation was not due to any disagreement with the company or its management relating to operations, policies or practices. The filing states that the Board reduced its size to seven directors in connection with his departure.

Financing joint venture and investment in ECN Capital Corp.

Champion Homes has also described a financing-related joint venture in a Form 8-K dated November 13, 2025. The filing explains that the company formed Champion Financing LLC, a captive finance company that is 51% owned by Champion Homes and 49% owned by Triad Financial Services, Inc., a subsidiary of ECN Capital Corp. The joint venture provides manufactured housing dealer floor plan and consumer retail financing products.

The same filing discusses ECN Capital Corp.’s entry into a definitive arrangement agreement to be acquired by an investor group led by Warburg Pincus. It notes that a Champion Homes subsidiary, Champion Canada Holdings Inc., holds ECN securities and entered into a support and voting agreement in connection with the transaction. The filing also describes a side letter agreement under which, upon closing of the ECN transaction, the term of the joint venture’s limited liability company agreement will be extended and Champion Homes (or an affiliate) will make an incremental investment into the joint venture over a specified period.

Engagement with regulators and industry recognition

Champion Homes’ news releases describe engagement with regulators and industry organizations. In the HUD facility tour release, the company notes that HUD executives and state-level officials visited its Leola, Pennsylvania manufacturing facility and retail center, where they viewed specific home models and observed the factory-built construction process. The release characterizes these visits as reflecting HUD’s interest in offsite construction as a response to the U.S. housing shortage, based on the statements quoted.

In the Designing Spaces television segment release, Champion Homes highlights that it has received multiple Manufactured Housing Institute Excellence in Manufactured Housing Awards for home design over a period of years. The release also notes that the television episode showcases design aesthetics and curb appeal of offsite-built homes and includes a tour of a specific manufactured home model, illustrating how the company presents its products to potential homebuyers.

Stock listing and shareholder matters

Champion Homes’ common stock is registered under Section 12(b) of the Securities Exchange Act of 1934 and trades on the New York Stock Exchange under the symbol SKY, as stated in multiple Form 8-K filings. A Form 8-K dated July 25, 2025 summarizes the results of the company’s 2025 Annual Meeting of Shareholders, including the election of directors, ratification of the appointment of the independent registered public accounting firm and an advisory vote on executive compensation. The filing provides vote counts for each proposal, demonstrating the company’s ongoing shareholder meeting and governance processes.

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