Skyline Champion(SKY) - 2026 Q3 - Quarterly Results

Financial Performance - Net sales for Q3 fiscal 2026 increased by 1.8% to $656.6 million compared to the prior-year period[4] - Net sales for the three months ended December 27, 2025, were $656.614 million, an increase from $644.925 million in the same period last year, representing a growth of 1.07%[28] - Gross profit for the nine months ended December 27, 2025, was $549.955 million, compared to $511.570 million for the same period in 2024, reflecting a year-over-year increase of 7.48%[28] - Operating income for the three months ended December 27, 2025, was $62.466 million, down from $72.808 million in the prior year, indicating a decrease of 14.2%[28] - Net income decreased by 11.7% to $54.3 million, primarily driven by lower gross profit[8] - Net income attributable to Champion Homes, Inc. for the nine months ended December 27, 2025, was $177.222 million, compared to $162.065 million for the same period in 2024, marking an increase of 9.36%[34] - Adjusted EBITDA decreased by 10.2% to $74.8 million, with an adjusted EBITDA margin of 11.4%[8] - Adjusted EBITDA for the nine months ended December 27, 2025, was $252.307 million, up from $232.470 million in the same period last year, showing an increase of 8.53%[32] Sales and Market Activity - The number of U.S. homes sold decreased by 2.6% to 6,270 due to reduced sales to the community REIT channel[4] - Average selling price (ASP) per U.S. home sold increased by 4.6% to $99,300 driven by changes in product mix and higher prices[4] - Backlog decreased by 15.1% to $266.0 million from the sequential second quarter of fiscal 2026[5] Cash and Assets - Cash and cash equivalents increased by $41.0 million to $659.8 million as of December 27, 2025[9] - Cash and cash equivalents at the end of the period were $659.758 million, an increase from $581.753 million at the end of the same period last year, representing a growth of 13.39%[30] - Total current assets increased to $1.117 billion as of December 27, 2025, compared to $1.086 billion at the end of the previous year, reflecting a growth of 2.85%[26] Liabilities and Stock Activity - Total liabilities decreased to $522.089 million as of December 27, 2025, down from $565.970 million in the previous year, indicating a reduction of 7.77%[26] - The company repurchased $50.0 million of its common stock under the share repurchase program[9] - The company repurchased $150 million worth of common stock during the nine months ended December 27, 2025[30] - The board of directors refreshed the share repurchase authorization to provide for $150 million of potential future repurchases[9] Share Information - The average diluted shares outstanding decreased to 56.277 million for the three months ended December 27, 2025, compared to 58.021 million in the same period last year, a reduction of 3.01%[34]