Skyline Champion(SKY) - 2025 Q3 - Quarterly Results

Financial Performance - Net sales for Q3 fiscal 2025 increased by 15.3% to $644.9 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 $83.3 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 $56,181 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 $0.81 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, 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, up 32.0% from $387,434 in the prior year[26] Expenses and Financial Position - Selling, general, and administrative expenses (SG&A) rose to $108.2 million, representing 16.8% of net sales[7] - Cash and cash equivalents as of December 28, 2024, totaled $581.8 million, an increase of $11.5 million[9] - Cash and cash equivalents at the end of the period increased to $581,753 from $495,063, marking a 17.4% rise[28] - Total assets as of December 28, 2024, were $2,037,469, up 5.9% from $1,923,341 at the end of the previous year[24] - Total stockholders' equity increased to $1,528,299, a 7.4% rise from $1,422,370 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 $313 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 $218,617 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 $143,908 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]