Skyline Champion Corporation (NYSE:SKY) Q4 2023 Earnings Conference Call May 30, 2023 9:00 AM ET Company Participants Mark Yost - President and Chief Executive Officer Laurie Hough - Executive Vice President and Chief Financial Officer Conference Call Participants Greg Palm - Craig-Hallum Capital Group Daniel Moore - CJS Securities, Inc. Matthew Bouley - Barclays Philip Ng - Jefferies Christopher Kalata - RBC Capital Markets Jay McCanless - Wedbush Securities Operator Good morning and welcome to Skyline Cha ...

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 April 1, 2023 [ ] 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 Identif ...

Financial Data and Key Metrics Changes - Net sales increased by 9% to $582 million compared to the same quarter last year [12] - Net income for the third quarter increased by 22% to $83 million or $1.44 per diluted share compared to $68 million or $1.18 per diluted share during the same period last year [16] - Consolidated gross profit increased by 11% to $174 million, with gross margins improving by 50 basis points [15] Business Line Data and Key Metrics Changes - U.S. factory-built housing segment revenue grew by $58 million, primarily driven by an increase in average selling price [36] - The number of homes sold in the U.S. factory-built segment decreased by approximately 1% to 5,749 homes [36] - Canadian revenue decreased by 15% to $31 million, driven by a 19% decline in the number of homes sold [14] Market Data and Key Metrics Changes - The backlog at the end of the quarter was down $282 million to $532 million, a 35% decrease compared to the September quarter [8] - Average selling price per U.S. home sold increased by 14% to $94,200 due to product mix and price increases [13] - Demand varies widely by geography, with lower orders and backlogs in the South Central regions of the U.S. [32] Company Strategy and Development Direction - The company is focusing on enhancing customer experience, streamlining product offerings, and transforming home building and buying processes [30] - There is a growing interest in affordable housing solutions, with expectations of gaining market share from traditional site-built builders [79] - The company plans to invest in production automation and expand its digital presence to engage consumers [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term growth potential, supported by demand for affordable housing and strategic positioning [20] - The company anticipates a sequential seasonal decline in fourth-quarter revenue, estimating a high single-digit decrease [32] - Management noted that while the current economic environment poses challenges, the company is well-positioned to outperform the broader housing market [43] Other Important Information - The effective tax rate for the quarter was 23.1%, down from 25.6% in the prior year [16] - The company repaid $39 million in outstanding floor plan borrowings, focusing on reinvesting cash into the business [19] - The company has $712 million in cash and cash equivalents as of December 31, 2022 [42] Q&A Session Summary Question: Can you elaborate on the retail side and inventory destocking? - Management indicated that destocking is occurring on a market-by-market basis, with most dealers expected to finalize by March [21] Question: Is there a pickup in retail traffic with the recent pullback in rates? - Retail foot traffic has increased since the beginning of the calendar year, although it was down in the third quarter [22] Question: What is the expected margin perspective moving forward? - Margins are expected to normalize back to historical levels, around 26% to 27%, with some pressure from new facilities [50] Question: How is the demand outlook for fiscal 2024? - Management is optimistic about fiscal 2024, citing a low supply of homes for sale and strong interest from builders [58] Question: Are there any bottlenecks in production to meet demand? - The company is expanding capacity to meet bulk orders from builders, ensuring adequate supply [60] Question: What is the impact of the retail channel on ASP? - The retail channel typically has higher ASPs than wholesale, and the mix will influence future ASPs [104]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition 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 Incor ...

Skyline Champion Corporation (NYSE:SKY) Q2 2023 Earnings Conference Call November 2, 2022 9:00 AM ET Company Participants Mark Yost - President and CEO Laurie Hough - Executive Vice President and CFO Conference Call Participants Greg Palm - Craig-Hallum Capital Group Daniel Moore - CJS Securities Matthew Bouley - Barclays Phil Ng - Jefferies Mike Dahl - RBC Capital Markets Jay McCanless - Wedbush Operator Good morning, and welcome to Skyline Champion Corporation's Second Quarter Fiscal 2023 Earnings Call. T ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 1, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition 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 Incorpo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q For the transition period from to ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 2, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) Indiana 35-1038277 (State of Incorporation) (I.R.S. Employer Identification No.) 755 West Big Beaver Road, Suite ...

Financial Data and Key Metrics Changes - In Q1 2023, net sales increased by 42% to $726 million compared to the same quarter last year [25] - Adjusted EBITDA rose by 159% to $163 million, with an adjusted EBITDA margin expanding by over 1,000 basis points to 22.4% [36] - Net income for the quarter was $117 million, or $2.04 per diluted share, compared to $43 million, or $0.75 per diluted share in the prior year [35] Business Line Data and Key Metrics Changes - U.S. factory-built housing segment revenue grew by $204 million, driven by a 7% increase in the number of homes sold, totaling 6,813 homes [26] - Average selling price (ASP) for U.S. homes sold increased by 35% to $97,000 due to price adjustments for inflation [27] - Canadian revenue increased by 19% to $45 million, driven by a 30% increase in ASP, despite a 9% decline in the number of homes sold [30] Market Data and Key Metrics Changes - Backlog at the end of June decreased by $264 million to $1.4 billion compared to the March quarter [15] - Lead times improved to 28 weeks from 35 weeks at the end of the March quarter due to enhanced production capabilities [15] - Minimal cancellations were observed at the end consumer level, indicating strong demand for affordable housing [13] Company Strategy and Development Direction - The company is focused on increasing production levels and reducing backlogs to pre-pandemic levels of 4 to 12 weeks [16] - Investments in manufacturing technology and customer digital access are prioritized to enhance affordability and attainability of homes [21] - The acquisition of Alta Cima and the integration of the Manis custom builders are aimed at expanding manufacturing footprint and enhancing customer experience [11][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current economic environment due to structural improvements and operational initiatives [37] - The demand for affordable housing remains strong, driven by rising rental rates and inflationary pressures [17] - The company anticipates that margins will normalize back to fiscal 2022 levels as the one-time effects of FEMA orders subside [38] Other Important Information - The company produced almost 90% of a $200 million FEMA disaster relief order during the quarter, recognizing approximately $83 million in revenue [9][27] - Cash and cash equivalents stood at $464 million, with long-term borrowings of $12 million and no maturities until 2029 [39] - The company plans to utilize its favorable liquidity position to reinvest in the business for long-term growth [40] Q&A Session Summary Question: Can you provide more detail on demand by channel and visibility into community build for rent? - Management noted strong demand in community REITs and build-to-rent channels, with retail demand remaining good despite a 20% decline in traffic [50] Question: Regarding FEMA units, how should we think about the September quarter? - Management confirmed that approximately $97 million in revenue from FEMA units will be recognized in the September quarter, expecting a relatively flat top line quarter-over-quarter [54] Question: What is the outlook for average selling prices (ASPs)? - ASPs are expected to remain flat in the second quarter, with a potential return to normal levels in the second half of the year due to consumer preferences for fewer options [60] Question: How stable is the backlog given the current environment? - Management indicated that consumer cancellations have been minimal, and the stability of the backlog is good despite some dealer inventory adjustments [62] Question: What are the drivers of margin increases this quarter? - Management highlighted efficient FEMA production and favorable lumber pricing as key drivers, but noted that margins may normalize in the second half of the year [70] Question: How is the company adapting to changes in sales channels? - Management stated that retail sales account for about 50% of total sales, with growth in other channels like build-to-rent and builder developers [106] Question: What are the current trends in zoning regulations? - Management observed a reduction in zoning regulatory barriers, with increased focus on affordable housing initiatives at state and local levels [102]

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 April 2, 2022 [ ] 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 Identif ...

Skyline Champion Corporation (NYSE:SKY) Q4 2022 Earnings Conference Call May 24, 2022 9:00 AM ET Company Participants Mark Yost - President and CEO Laurie Hough - Executive Vice President and CFO Conference Call Participants Greg Palm - Craig-Hallum Capital Group Daniel Moore - CJS Securities Matthew Bouley - Barclays Mike Dahl - RBC Capital Markets Operator Good morning. And welcome to Skyline Champion Corporation’s Fourth Quarter and Full Year Fiscal 2022 Earnings Call. The company issued an earnings pres ...