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Skyline Champion(SKY) - 2025 Q3 - Quarterly Results
SKYSkyline Champion(SKY)2025-02-04 21:15

Financial Performance - Net sales for Q3 fiscal 2025 increased by 15.3% to 644.9millioncomparedtotheprior−yearperiod[4]−Netincomeincreasedby31.0644.9 million compared to the prior-year period[4] - Net income increased by 31.0% to 61.5 million[8] - Adjusted EBITDA increased by 25.7% to 83.3million,withanadjustedEBITDAmarginof12.983.3 million, with an adjusted EBITDA margin of 12.9%[8] - Operating income for the three months ended December 28, 2024, reached 72,808, representing a 29.6% increase compared to 56,181inthesamequarterof2023[26]−BasicnetincomepershareforthethreemonthsendedDecember28,2024,was56,181 in the same quarter of 2023[26] - Basic net income per share for the three months ended December 28, 2024, was 1.07, up from 0.81inthesamequarterof2023[26]SalesandMarketActivity−ThenumberofU.S.homessoldincreasedby14.10.81 in the same quarter of 2023[26] Sales and Market Activity - The number of U.S. homes sold increased by 14.1% to 6,437, driven by increased demand across all sales channels[4] - Average selling price (ASP) per U.S. home sold rose by 2.8% to 94,900[4] - Net sales for the three months ended December 28, 2024, increased to 644,925,a15.3644,925, a 15.3% rise from 559,455 in the same period last year[26] Profitability and Margins - Gross profit margin expanded by 280 basis points to 28.1%[6] - Gross profit for the nine months ended December 28, 2024, was 511,570,up32.0511,570, up 32.0% from 387,434 in the prior year[26] Expenses and Financial Position - Selling, general, and administrative expenses (SG&A) rose to 108.2million,representing16.8108.2 million, representing 16.8% of net sales[7] - Cash and cash equivalents as of December 28, 2024, totaled 581.8 million, an increase of 11.5million[9]−Cashandcashequivalentsattheendoftheperiodincreasedto11.5 million[9] - Cash and cash equivalents at the end of the period increased to 581,753 from 495,063,markinga17.4495,063, marking a 17.4% rise[28] - Total assets as of December 28, 2024, were 2,037,469, up 5.9% from 1,923,341attheendofthepreviousyear[24]−Totalstockholders′equityincreasedto1,923,341 at the end of the previous year[24] - Total stockholders' equity increased to 1,528,299, a 7.4% rise from 1,422,370intheprioryear[24]ShareholderActions−Thecompanyrepurchased1,422,370 in the prior year[24] Shareholder Actions - The company repurchased 20 million of its common stock during the quarter[9] Backlog and Cash Flow - Backlog decreased by 26.9% to 313millionfromthesequentialsecondquarter[4]−Thecompanyreportedanetcashprovidedbyoperatingactivitiesof313 million from the sequential second quarter[4] - The company reported a net cash provided by operating activities of 194,852 for the nine months ended December 28, 2024, compared to 218,617inthesameperiodlastyear[28]−NetincomeattributabletoChampionHomes,Inc.fortheninemonthsendedDecember28,2024,was218,617 in the same period last year[28] - Net income attributable to Champion Homes, Inc. for the nine months ended December 28, 2024, was 162,065, a 12.6% increase from 143,908inthesameperiodlastyear[31]AdjustedMetrics−AdjustedEBITDAforthethreemonthsendedDecember28,2024,was143,908 in the same period last year[31] Adjusted Metrics - Adjusted EBITDA for the three months ended December 28, 2024, was 83,261, compared to $66,252 in the same quarter of 2023, reflecting a 25.7% increase[30]