Champion Homes Announces Third Quarter Fiscal 2026 Results

Core Insights - Champion Homes reported its third quarter fiscal 2026 results, highlighting a challenging environment but strong operational execution and strategic advancements [1] Financial Performance - Net sales increased by 1.8% to $656.6 million compared to the prior year [1] - U.S. homes sold decreased by 2.6% to 6,270, attributed to reduced sales to the community REIT channel and a prior-year sales boost due to weather [1] - Average selling price (ASP) per U.S. home sold rose by 4.6% to $99,300 due to product mix changes and price increases [1] - Gross profit decreased by 4.9% to $172.2 million, with a gross profit margin of 26.2%, down 190 basis points from the previous year [1] - Net income fell by 11.7% to $54.3 million, primarily due to lower gross profit [1] - Adjusted EBITDA decreased by 10.2% to $74.8 million, with an adjusted EBITDA margin of 11.4%, down 150 basis points [1] Shareholder Actions - The company repurchased $50.0 million of shares under its share repurchase program [1] - As of December 27, 2025, Champion Homes had $659.8 million in cash and cash equivalents, an increase of $41.0 million from the previous quarter [1] - The board of directors refreshed the share repurchase authorization for potential future repurchases of up to $150 million [1] Strategic Initiatives - The company is focused on evolving its product catalog to serve various customer segments and is making progress on digital and retail strategies [1] - The appointment of Tawn Kelley as the new Chair of the Board is expected to provide insights and guidance for driving growth [1] Market Position - Champion Homes is a leading producer of factory-built housing in North America, employing approximately 9,000 people and operating 46 manufacturing facilities [2] - The company operates a factory-direct retail business with 83 locations across the U.S. and provides transportation services through Star Fleet Trucking [2]