Skyline Champion(SKY) - 2025 Q4 - Annual Results

Financial Performance - Net sales for Q4 fiscal 2025 increased by 10.7% to $593.9 million compared to Q4 fiscal 2024[5] - Full year net sales reached $2.5 billion, a 22.7% increase compared to fiscal 2024, primarily due to the Regional Homes acquisition[12] - Net income attributable to Champion Homes, Inc. for the twelve months ended March 29, 2025, was $198,413 thousand, a 35.3% increase from $146,696 thousand in 2024[38] - Full year net income increased by $51.7 million to $198.4 million, a 35.3% rise compared to fiscal 2024[15] - Adjusted EBITDA for fiscal 2025 increased by 16.2% to $285.1 million, with a margin of 11.5%[15] - Adjusted EBITDA for the twelve months ended March 29, 2025, reached $285,056 thousand, reflecting a 16.0% increase from $245,264 thousand in 2024[37] - Cash flows from operating activities for the year ended March 29, 2025, amounted to $240,857 thousand, compared to $222,704 thousand in 2024, indicating a growth of 8.1%[35] Profitability Metrics - Gross profit margin expanded by 740 basis points to 25.7% in Q4 fiscal 2025, reflecting the absence of prior year product liability costs[8] - Gross profit for the twelve months ended March 29, 2025, rose to $664,023 thousand, representing a 36.7% increase compared to $485,794 thousand in 2024[33] - Total Gross Profit for the twelve months ended March 29, 2025, reached $664,023, up from $485,794 in the previous year, indicating a 36.7% growth[40] - Adjusted Gross Profit for the twelve months ended March 29, 2025, was $664,023, compared to $520,294 for the same period in 2024, reflecting a 27.6% increase[40] Sales and Market Activity - U.S. homes sold in Q4 fiscal 2025 rose by 5.1% to 5,941 units, driven by increased demand[7] - Average selling price per U.S. home sold increased by 5.0% to $94,300 in Q4 fiscal 2025[5] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30] Expenses and Investments - SG&A expenses increased by 37.5% to $427.0 million for fiscal 2025, driven by higher sales volume and investments in growth[14] - The company repurchased $20 million of its common stock during Q4 fiscal 2025, with a refreshed authorization for $100 million in future repurchases[11] Assets and Equity - Total assets as of March 29, 2025, increased to $2,110,408 thousand, up 9.7% from $1,923,341 thousand in 2024[31] - Retained earnings as of March 29, 2025, were $975,981 thousand, a significant increase of 12.6% from $866,485 thousand in 2024[31] - Cash, cash equivalents, and restricted cash at the end of the period increased to $610,338 thousand from $495,063 thousand, a rise of 23.2%[35] Acquisitions - Champion Homes announced the acquisition of Iseman Homes to expand retail capabilities[6]