Skyline Champion Corporation (NYSE:SKY) Q1 2024 Earnings Conference Call August 2, 2023 9:00 AM ET Company Participants Mark Yost - President & Chief Executive Officer Laurie Hough - Executive Vice President & Chief Financial Officer Conference Call Participants Elizabeth Langan - Barclays Phil Ng - Jefferies Chris Kalata - RBC Capital Markets Greg Palm - Craig-Hallum Capital Group Operator Good morning, and welcome to Skyline Champion Corporation's First Quarter Fiscal 2024 Earnings Call. The company issue ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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) 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 July 1, 2023 an emerging growth company. See the def ...

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 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 ...