INVESTOR PRESENTATION DECEMBER 2023 DISCLAIMER FORWARD-LOOKING STATEMENTS Statements in this presentation and discussions that follow, including those about the industry shipments, demographic trends, financing availability, the potential results of operational improvements, strategic initiatives, and future market demand are intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally ...

Financial Performance - Champion Homes reported net sales of approximately $2.5 billion for fiscal 2025, maintaining a market share of about 2.5% in the total U.S. housing market[16]. - For fiscal 2025, net sales increased by $458.6 million, or 22.7%, to $2.5 billion compared to fiscal 2024[162]. - U.S. manufacturing and retail net sales rose by $472.4 million, or 25.1%, driven by strong demand and the acquisition of Regional Homes[163]. - The number of U.S. homes sold increased by 20.6% to 25,273 units, with an average home selling price of $93.3 thousand, up 3.7%[162][163]. - The backlog of customer orders at the end of fiscal 2025 was $343.4 million, an increase from $315.8 million in fiscal 2024[157]. - The company's gross profit margin improved to 26.7% in fiscal 2025, up from 24.0% in fiscal 2024[160]. - Total gross profit for fiscal 2025 was $664.0 million, an increase of $178.2 million or 36.7% compared to $485.8 million in fiscal 2024[167]. - Adjusted EBITDA for fiscal 2025 was $285.1 million, representing 11.5% of net sales, compared to 12.1% in fiscal 2024[160]. - Interest (income), net was $(17.0) million in fiscal 2025, a decrease of $11.3 million or 39.9% compared to $(28.3) million in fiscal 2024[175]. - Income tax expense for fiscal 2025 was $53.7 million, representing an effective tax rate of 20.9%, compared to $47.1 million and 23.5% in fiscal 2024[177]. Operations and Manufacturing - The company operates 48 manufacturing facilities across 20 states in the U.S. and three provinces in Canada, employing around 9,000 individuals[16][36]. - The company is expanding its retail presence with 72 active sales centers across the U.S. as of the end of fiscal 2025[18]. - The company maintains a one to three-week supply of raw materials at manufacturing facilities to mitigate supply chain challenges[45]. - The company began production in previously idled facilities in Decatur, Indiana, and Bartow, Florida, to enhance manufacturing capacity[153]. - The company owns or leases six idle manufacturing facilities that could be utilized for additional production capacity, requiring capital investments[132]. Market Trends and Challenges - The housing industry experiences seasonal fluctuations, with demand for single-family new home products typically peaking in spring and summer, leading to decreased traffic during holidays and winter months[69]. - Raw material shortages and price increases, particularly for lumber and steel, could materially impact construction costs and cash flows, especially during high demand periods[72]. - In fiscal 2025, the U.S. imposed increased tariffs on foreign imports, which may lead to higher costs of goods and potential supply chain disruptions, adversely affecting financial results[73]. - Labor shortages and turnover in the homebuilding industry can increase production costs and delays, adversely affecting net sales and operational results[89]. - Increased costs of transportation due to a lack of qualified drivers may impact the cost of goods sold and the ability to meet customer demand timely[90]. - Changes in consumer preferences and the introduction of new product features are critical for maintaining competitiveness in the factory-built housing market[80]. - Regulatory changes related to environmental standards and zoning ordinances could adversely affect the production and sale of factory-built homes, impacting sales and cash flows[85][86]. - Public health issues, such as pandemics, could disrupt operations and have a material adverse effect on business results[84]. Strategic Initiatives - Champion Homes began lending activities through Champion Financing, providing tailored financing products to enhance home ownership accessibility[19]. - The company is focused on enhancing operational excellence and leveraging digital technologies to improve customer engagement and streamline processes[21][24]. - The company is pursuing strategic acquisitions to expand its capabilities efficiently, including retail locations and manufacturing facilities[24]. - The company acquired Regional Homes in October 2023, expanding its manufacturing and retail presence in the Southeast U.S.[152]. Financial Position and Cash Flow - The company had cash, cash equivalents, and restricted cash of $610.3 million at the end of fiscal 2025, up from $495.1 million at the end of fiscal 2024[184]. - The company has a $200.0 million revolving credit facility with no borrowings as of March 29, 2025, and total available borrowings under the credit agreement were $168.5 million as of March 30, 2024[189]. - The company anticipates compliance with its debt covenants and projects cash availability to exceed operational needs for the next year[184]. - Cash used in investing activities significantly decreased to $46.2 million in fiscal 2025 from $485.7 million in fiscal 2024, primarily due to the absence of major acquisitions[187]. - Cash used in financing activities was $73.0 million in fiscal 2025, compared to $10.9 million provided in fiscal 2024, largely due to $80.0 million in common stock repurchases[188]. Risks and Liabilities - The company faces risks from product liability claims and warranty claims, which can be costly and impact financial results[95]. - Increased interest rates and inflation have limited the purchasing power of potential customers, adversely affecting sales and financial results[107][110]. - The availability of wholesale financing for retailers is limited, which could negatively impact inventory levels and sales[111]. - Contingent repurchase obligations related to wholesale financing may incur additional expenses and reduce cash flows[112]. - The company has contingent liabilities totaling $17.5 million in surety bonds and $31.5 million in letters of credit as of March 29, 2025[194]. - The company recorded charges of $34.5 million for a remediation plan related to water intrusion product liability claims during the fourth quarter of fiscal 2024[197]. Corporate Governance and Compliance - The company is subject to extensive regulations affecting the production and sale of factory-built housing, with non-compliance potentially leading to sanctions[87]. - A material weakness in internal control over financial reporting was identified due to ineffective controls in the Regional Homes retail operations acquired in October 2023[117]. - The company has established a comprehensive cybersecurity program overseen by the Audit Committee, focusing on risk management and incident response[122][123]. - The company does not expect any material adverse effects from cybersecurity threats on its business strategy or financial condition[129].

Champion Homes (SKY) Q4 2025 Earnings Call May 27, 2025 08:30 AM ET Company Participants Jason Blair - Investor Relations ManagerTim Larson - President & CEOLaurie Hough - Executive VP, CFO & TreasurerDaniel Moore - Director of ResearchMike Dahl - Managing Director - Equity ResearchPhilip Ng - Managing DirectorJesse Lederman - Associate DirectorJay McCanless - SVP - Equity Research Conference Call Participants Greg Palm - Senior Research AnalystMatthew Bouley - Senior Equity Research Analyst Operator Good m ...

Champion Homes (SKY) Q4 2025 Earnings Call May 27, 2025 08:30 AM ET Speaker0 Good morning. Welcome to the Champion Homes Fourth Quarter Fiscal twenty twenty five Earnings Call. My name is Sherry and I will be coordinating your call today. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. I will now turn the call over to your host, Jason Blair, to begin. Jason, please go ahead. Speaker1 Good morning. Thank you for taking the time to join us f ...

Champion Homes (SKY) came out with quarterly earnings of $0.65 per share, missing the Zacks Consensus Estimate of $0.75 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -13.33%. A quarter ago, it was expected that this manufactured and modular housing maker would post earnings of $0.79 per share when it actually produced earnings of $1.04, delivering a surprise of 31.65%.Over the la ...

Financial Performance - Net sales for Q4 fiscal 2025 increased by 10.7% to $593.9 million compared to Q4 fiscal 2024[5] - Full year net sales reached $2.5 billion, a 22.7% increase compared to fiscal 2024, primarily due to the Regional Homes acquisition[12] - Net income attributable to Champion Homes, Inc. for the twelve months ended March 29, 2025, was $198,413 thousand, a 35.3% increase from $146,696 thousand in 2024[38] - Full year net income increased by $51.7 million to $198.4 million, a 35.3% rise compared to fiscal 2024[15] - Adjusted EBITDA for fiscal 2025 increased by 16.2% to $285.1 million, with a margin of 11.5%[15] - Adjusted EBITDA for the twelve months ended March 29, 2025, reached $285,056 thousand, reflecting a 16.0% increase from $245,264 thousand in 2024[37] - Cash flows from operating activities for the year ended March 29, 2025, amounted to $240,857 thousand, compared to $222,704 thousand in 2024, indicating a growth of 8.1%[35] Profitability Metrics - Gross profit margin expanded by 740 basis points to 25.7% in Q4 fiscal 2025, reflecting the absence of prior year product liability costs[8] - Gross profit for the twelve months ended March 29, 2025, rose to $664,023 thousand, representing a 36.7% increase compared to $485,794 thousand in 2024[33] - Total Gross Profit for the twelve months ended March 29, 2025, reached $664,023, up from $485,794 in the previous year, indicating a 36.7% growth[40] - Adjusted Gross Profit for the twelve months ended March 29, 2025, was $664,023, compared to $520,294 for the same period in 2024, reflecting a 27.6% increase[40] Sales and Market Activity - U.S. homes sold in Q4 fiscal 2025 rose by 5.1% to 5,941 units, driven by increased demand[7] - Average selling price per U.S. home sold increased by 5.0% to $94,300 in Q4 fiscal 2025[5] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30] Expenses and Investments - SG&A expenses increased by 37.5% to $427.0 million for fiscal 2025, driven by higher sales volume and investments in growth[14] - The company repurchased $20 million of its common stock during Q4 fiscal 2025, with a refreshed authorization for $100 million in future repurchases[11] Assets and Equity - Total assets as of March 29, 2025, increased to $2,110,408 thousand, up 9.7% from $1,923,341 thousand in 2024[31] - Retained earnings as of March 29, 2025, were $975,981 thousand, a significant increase of 12.6% from $866,485 thousand in 2024[31] - Cash, cash equivalents, and restricted cash at the end of the period increased to $610,338 thousand from $495,063 thousand, a rise of 23.2%[35] Acquisitions - Champion Homes announced the acquisition of Iseman Homes to expand retail capabilities[6]

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Core Viewpoint - Skycap Investment Holdings Inc. has received shareholder and Canadian Securities Exchange (CSE) approval to change its business classification from an industrial issuer to an investment issuer, marking a strategic shift for the company [1][3]. Group 1: Business Transition - The company will rebrand from "Li-Metal Corp." to Skycap Investment Holdings Inc., effective immediately [1]. - Common shares will begin trading on the CSE under the new ticker symbol "SKY" starting March 31, 2025 [2]. Group 2: Leadership Statements - Keshav Kochhar, CEO, expressed enthusiasm about the transition, highlighting the opportunity to leverage financial strength and strategic insights for investments in high-potential industries [3]. - Tim Johnston, Chairman of the Board, emphasized that the transition aligns with the company's long-term vision and allows for effective navigation of the evolving market landscape [3]. Group 3: Company Overview - Skycap is a Canadian-based investment issuer focused on identifying and investing in high-growth sectors, aiming to deliver sustainable value through strategic and diversified investments [4].

Financial Performance - Net sales for the three months ended December 28, 2024, increased to $644,925, a 15.3% rise from $559,455 in the same period last year[12] - Gross profit for the nine months ended December 28, 2024, was $511,570, up 32.0% from $387,434 in the prior year[12] - Net income attributable to Champion Homes, Inc. for the three months ended December 28, 2024, was $61,537, representing a 31.0% increase compared to $46,970 in the same period last year[12] - For the three months ended December 28, 2024, net income was $62.8 million, compared to $46.97 million for the same period in the previous year, representing a year-over-year increase of 33.8%[20] - Consolidated net sales for the three months ended December 28, 2024, were $644.9 million, an increase of 15.3% compared to $559.5 million for the same period in 2023[76] - Net income attributable to Champion Homes, Inc. for the three months ended December 28, 2024, was $61.5 million, up 31% from $47.0 million in the same period last year[72] - Adjusted EBITDA for the three months ended December 28, 2024, was $83.3 million, representing 12.9% of net sales, compared to 11.8% in the prior year[1] - Net sales for the nine months ended December 28, 2024, were $1.89 billion, an increase of $401.1 million, or 26.9%, compared to the same period in 2023[123] Assets and Liabilities - Total assets as of December 28, 2024, reached $2,037,469, an increase of 5.9% from $1,923,341 as of March 30, 2024[9] - Cash and cash equivalents at the end of the period were $581,753, reflecting an increase of 17.4% from $495,063 at the beginning of the period[17] - Total stockholders' equity increased to $1,528,299 as of December 28, 2024, up from $1,422,370 as of March 30, 2024[9] - Other current liabilities increased to $261.3 million as of December 28, 2024, from $247.5 million as of March 30, 2024[55] - The total long-term debt as of December 28, 2024, was $24.7 million, slightly up from $24.7 million on March 30, 2024[57] Expenses - Selling, general, and administrative expenses for the three months ended December 28, 2024, were $108,214, up 27.2% from $85,091 in the same period last year[12] - Total selling, general, and administrative expenses increased by $96.7 million or 44.0% to $316.7 million for the nine months ended December 28, 2024[132] - Selling, general, and administrative expenses for the U.S. Factory-built Housing segment increased by $79.0 million or 48.4% during the nine months ended December 28, 2024[133] Cash Flow - The company reported a net cash provided by operating activities of $194,852 for the nine months ended December 28, 2024, compared to $218,617 in the prior year[17] - Cash provided by operating activities was $194.9 million for the nine months ended December 28, 2024, a decrease from $218.6 million for the same period in 2023, primarily due to less favorable changes in working capital[151] - Cash used in investing activities significantly decreased to $35.0 million for the nine months ended December 28, 2024, compared to $474.4 million in the prior year, reflecting the absence of major acquisitions[152] - Cash used in financing activities increased to $65.9 million for the nine months ended December 28, 2024, compared to $3.9 million in the same period of 2023, largely due to $60.0 million in common stock repurchases[153] Acquisitions and Investments - The Company acquired Regional Enterprises, LLC for a total purchase consideration of $316.9 million, which included $279.5 million in cash and $27.9 million in common stock[37] - The company made an equity investment in ECN to create a captive finance company, Champion Financing, aimed at providing financing solutions to homebuyers[89] - The investment in ECN Capital Corporation totaled $137.8 million, representing approximately 12% of ECN's total outstanding common shares[50] Market Performance - U.S. Factory-built Housing net sales reached $610.8 million for the three months ended December 28, 2024, up 17.1% from $521.1 million in the prior year[76] - The company's manufacturing backlog increased to $312.6 million as of December 28, 2024, compared to $290.4 million as of December 30, 2023, reflecting a growing demand for affordable housing[92] - The U.S. wholesale market share of HUD code homes sold increased to 22.2% for the eight months ended November 30, 2024, compared to 18.9% for the same period in 2023[95] - U.S. manufacturing and retail net sales increased by $89.6 million, or 17.2%, driven by a 14.1% increase in homes sold and a 2.8% increase in average selling price[98] Taxation - The effective tax rate for the three months ended December 28, 2024, was 21.1%, slightly lower than 21.4% for the same period in 2023[67] - The Company recorded $45.8 million in income tax expense for the nine months ended December 28, 2024, compared to $44.8 million for the same period in 2023[67] - Income tax expense for the three months ended December 28, 2024, was $16.7 million, representing an effective tax rate of 21.1%, compared to $12.8 million and 21.4% in the prior year[115] Risks and Compliance - The company is subject to various risks, including supply-related issues, labor-related issues, and inflationary pressures, which could impact future performance[157] - The company maintains effective disclosure controls and procedures as evaluated by the CEO and CFO as of December 28, 2024[161]