Champion Homes, Inc. NYSE: SKY, formerly Skyline Champion, got a name change in 2024, doing little to alter the outlook. The outlook is bright because market conditions, persistently low housing inventory, and its focus on affordability make it a winner for consumers. Skyline Champion Today | --- | --- | |--------------------------------|-------| | | | | | | | | | | SKY | | | Skyline Champion | | | $94.65 | | | +0.74 (+0.79%) 52-Week Range | | | $52.12 | | | ▼ | | | $97.22 | | | P/E Ratio 38.79 | | | Price ...

Investors in Champion Homes, Inc.(SKY) need to pay close attention to the stock based on moves in the options market lately. That is because the Nov 15, 2025 $70.00 Put had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could a ...

Financial Data and Key Metrics Changes - Net sales increased 35% to $628 million compared to the same quarter last year, with U.S. factory-built housing revenue rising 40% [10] - The number of homes sold increased 36% to 6,538 homes in the U.S. compared to 4,817 homes in the prior year period [10] - Consolidated gross profit increased 27% to $164 million, while gross margin contracted by 170 basis points to 26.2% [12][13] - Net income for the first quarter decreased 11% to $46 million or $0.79 per diluted share compared to $51 million or $0.89 per diluted share during the same period last year [14] Business Line Data and Key Metrics Changes - Home sales climbed 33% year-over-year to reach 6,705 units, with organic sale orders increasing 60% year-over-year [4] - U.S. factory-built housing revenue increased 40%, supported by additional retail and manufacturing capacity from the Regional Homes acquisition [10] - Canadian revenue declined 24% in the number of homes sold, partially mitigated by a 5% increase in the average home selling price [12] Market Data and Key Metrics Changes - Demand in Canada remains soft due to inflation and economic uncertainty affecting consumer sentiment [4] - Average selling price per U.S. homes sold increased by 3% to $91,700, reflecting a higher mix of retail units sold [10] - Average selling price in Canada increased to $124,500 due to a shift in product mix [12] Company Strategy and Development Direction - The company is focused on enhancing customer channels, integrating Regional Homes, and realizing benefits from the Champion Financing joint venture [3] - The strategic actions aim to strengthen market position and provide accessible housing solutions [7] - The company is expanding into Builder as a Service with digital platforms and consumer retail, along with innovative financing solutions [17] Management's Comments on Operating Environment and Future Outlook - Management anticipates flat or possibly down top-line performance for the second quarter due to weather impacts on production and shipment timing [8] - Despite challenges in traditional new home construction, there is a rise in demand attributed to affordable pricing and enhanced quality [8] - The company expects gross margins to fluctuate quarter-to-quarter based on wholesale unit volumes and product mix [15] Other Important Information - The company changed its corporate name to Champion Homes, Inc., emphasizing its commitment to expanding market presence [7] - The effective tax rate for the quarter was 22.5%, positively impacted by increased recognition of tax credits related to energy-efficient homes [15] - The company generated $85 million of operating cash flows for the quarter, reflecting higher adjusted net income and favorable working capital changes [16] Q&A Session Summary Question: Can you provide color on the outperformance relative to initial expectations? - Management noted that orders were stronger than anticipated, with consistent demand across all channels, except Canada [20] Question: Is the fiscal Q2 guidance conservative due to potential weather events? - Management indicated that guidance reflects potential delivery timing impacts from weather events [23] Question: How is the demand cadence, particularly in retail? - Retail demand has been strong, with expectations of slight softening due to weather conditions [25] Question: What is the status of community channel demand? - The community channel is healthy, with builder demand showing strong growth [26] Question: How does the company view backlog levels? - Management aims to maintain backlogs at 8 to 12 weeks, monitoring order pace closely [29] Question: What are the expectations for gross margins moving forward? - Gross margins are expected to fluctuate based on product mix and sales channels, with a potential range of 100 to 200 basis points [31] Question: What is driving the increase in activity despite a weakening consumer environment? - The company is meeting the demand for affordable homes, supported by direct-to-consumer marketing and financing solutions [40] Question: How does the company expect sales to progress seasonally through the year? - Management expects the second half of the year to be stronger than previously anticipated, with seasonal dynamics influencing sales [43]

Financial Performance - Net sales for the three months ended June 29, 2024, increased to $627,779,000, up 35.1% from $464,769,000 for the same period in 2023[8] - Gross profit for the same period was $164,215,000, representing a gross margin of 26.2%, compared to $129,673,000 in 2023[8] - Operating income decreased to $55,388,000, down 6.9% from $59,234,000 year-over-year[8] - Net income for the three months ended June 29, 2024, was $45,794,000, a decrease of 10.5% from $51,269,000 in the prior year[8] - For the three months ended June 29, 2024, the total revenue was $627.8 million, compared to $401.1 million for the same period in 2023, reflecting a significant increase[47] - The net income attributable to the Company's common shareholders for the three months ended June 29, 2024, was $45.8 million, down from $51.3 million in the prior year[49] - The Company recorded an effective tax rate of 22.5% for the three months ended June 29, 2024, compared to 25.2% for the same period in 2023[48] - Adjusted EBITDA for the three months ended June 29, 2024, was $75.0 million, compared to $66.8 million in the same period of 2023[74] - Selling, general, and administrative expenses rose to $108.8 million, an increase of $38.4 million, or 54.5%, compared to $70.4 million in the prior year[78] Assets and Liabilities - Total current assets increased to $975,928,000, up 6.3% from $918,302,000 as of March 30, 2024[7] - Total assets reached $1,987,130,000, reflecting a growth of 3.3% from $1,923,341,000[7] - Cash and cash equivalents at the end of the period were $548,933,000, an increase of 10.9% from $495,063,000 at the beginning of the period[12] - Total stockholders' equity increased to $1,450,747,000, up 2.0% from $1,422,370,000[7] - The company reported a net cash provided by operating activities of $84,616,000, compared to $74,857,000 in the same period last year[12] - The company had outstanding borrowings on floor plan financing agreements of $92.9 million as of June 29, 2024, with a total credit line capacity of $223.0 million[46] - The accrued warranty obligations increased to $54.1 million as of June 29, 2024, from $35.1 million at the end of the same period in 2023[41] - The average cash balance decreased to $521.998 million for the three months ended June 29, 2024, down from $772.585 million in the same period of the prior year[82] Acquisitions and Investments - The company acquired Regional Enterprises, LLC for a total consideration of $316.9 million, including $279.5 million in cash and 455,098 shares valued at approximately $27.9 million[25] - The Company completed the acquisition of Regional Homes in October 2023, which constituted approximately 26% of total assets and 24% of net sales for the three months ended June 29, 2024[104] - The investment in ECN Capital Corporation totaled $70.1 million as of June 29, 2024, with the Company owning approximately 19.9% of the voting shares[37] - The Company made an equity investment in ECN to facilitate the creation of a captive finance company, Champion Financing, to provide financing solutions[64] Manufacturing and Sales - Champion Homes, Inc. operates 43 manufacturing facilities in the U.S. and 5 in Canada, focusing on factory-built homes and retail sales through 72 sales centers[15] - U.S. Factory-built Housing segment net sales reached $599.5 million, up 39.8% from $428.8 million year-over-year[52] - The Company's backlog increased to $404.8 million as of June 29, 2024, compared to $260.0 million as of July 1, 2023[67] - Approximately 88% of the Company's U.S. manufacturing sales were generated from homes complying with HUD code standards[68] - U.S. manufacturing and retail net sales increased by $170.7 million, or 39.8%, primarily due to the inclusion of $151.5 million from Regional Homes[71] Expenses and Costs - Depreciation expense for the three months ended June 29, 2024, was $7.7 million, an increase from $4.6 million in the same period of 2023[31] - Amortization of intangible assets for the three months ended June 29, 2024, was $2.9 million, slightly down from $3.0 million in the prior year[34] - Interest income, net was $(4.2) million for the three months ended June 29, 2024, compared to $(9.3) million in the same period of the prior fiscal year, a change of $5.1 million or 54.3%[82] Legal and Compliance - The company is involved in various legal proceedings, including commercial disputes and product liability claims[105] - The company has excluded the acquired operations of Regional Homes from its assessment of internal control over financial reporting for the first year following the acquisition[104] - The company's disclosure controls and procedures were evaluated as effective as of June 29, 2024, by the CEO and CFO[103] - The company maintains reasonable assurance that required information is disclosed in compliance with the Securities Exchange Act of 1934[103] Risks and Future Outlook - The company is assessing the impact of new accounting standards updates on its financial statement disclosures, effective for fiscal 2025 and fiscal 2026[23][24] - The company is exposed to risks related to public health issues, such as epidemics or pandemics, which could disrupt business operations[100] - There have been no significant changes in interest rate and foreign exchange risks since March 30, 2024[102] - The company assumes no obligation to update forward-looking statements unless required by law[101]

Skyline (SKY) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.89 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 31.88%. A quarter ago, it was expected that this manufactured and modular housing maker would post earnings of $0.67 per share when it actually produced earnings of $0.62, delivering a surprise of -7.46%. Over the last four ...

CHAMPION HOMES ANNOUNCES FIRST QUARTER FISCAL 2025 RESULTS Troy, Michigan, August 6, 2024 /Business Wire/ -- Champion Homes, Inc., formerly known as Skyline Champion Corporation (NYSE: SKY) ("Champion Homes"), today announced financial results for its first quarter ended June 29, 2024 ("fiscal 2025"). Skyline Champion Corporation Changes Corporate Name Change to Champion Homes, Inc. First Quarter Fiscal 2025 Highlights (compared to First Quarter Fiscal 2024) • Net sales increased 35.1% to $627.8 million • U ...

Skyline (SKY) shares ended the last trading session 6.2% higher at $79.58. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.6% gain over the past four weeks. The stock might have got a boost on the expectation of potential interest rate cut in September, per the CME FedWatch tool. This manufactured and modular housing maker is expected to post quarterly earnings of $0.69 per share in its upcoming report, which rep ...

Skyline (SKY) shares ended the last trading session 7.5% higher at $71.28. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.8% loss over the past four weeks. Shares of SKY are expected to have gained on the back of an easing inflation scenario as of May 2024, as released by the U.S. Bureau of Labor Statistics. This manufactured and modular housing maker is expected to post quarterly earnings of $0.69 per share in ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 30, 2024 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE PERIOD FROM TO Commission File Number 001-04714 Skyline Champion Corporation (Exact name of registrant as specified in its charter) Indiana 35-1038277 (State of Incorporation) (I.R.S. Employer Identi ...

Skyline Champion Corporation (NYSE:SKY) Q4 2024 Earnings Conference Call May 22, 2024 9:00 AM ET Company Participants Mark Yost - President & CEO Laurie Hough - EVP & CFO Conference Call Participants Phil Ng - Jefferies Mike Dahl - RBC Capital Markets Christopher Kalata - RBC Capital Markets Daniel Moore - CJS Securities Elizabeth Langan - Barclays Bank Danny Eggerichs - Craig-Hallum Capital Group Jay McCanless - Wedbush Securities Operator Good morning, and welcome to Skyline Champion Corporation's Fourth ...