Champion Homes Reports a 32.9% Increase in Q2 Net Sales
TROY, Mich.- Champion Homes, Inc (NYSE:SKY) on Monday (OCT.28) announced financial results for its second quarter ended Sept. 28, 2024.
Second Quarter 2025 Highlights (compared to Second Quarter Fiscal 2024)
- Net sales increased 32.9% to $616.9 million
- U.S. homes sold increased 31.3% to 6,357
- Total backlog increased 5.6% to $427 million from the sequential first quarter
- Average selling price (“ASP”) per U.S. home sold increased 4.5% to $92,400
- Gross profit margin expanded by 190 points to 27.0%
- Net income increased by 19.8 % to $54.7 million
- Earnings per diluted share (EPS) increased 19.0% to to $0.94
- Adjusted EBITDA increased 26.2% to $74.2 million
- Adjusted EBITDA margin contracted by 60 basis points to 12.0%
- Net cash generated by operating activities of $59.8 million during the quarter
- Repurchased $20.0 million of shares under the share repurchase program
“I am pleased to report that Champion Homes delivered another strong quarter, generating healthy margins and cash flow,” said Mark Yost, president and chief executive officer of Champion Homes. Our continued focus on our digital direct-to-consumer strategy, combined with our footprint expansion and strong consumer demand for attainable housing, positioned us to achieve significant growth in home sales compared to last year. Our talented teams have enabled us to advance our strategic initiatives and enhance our capacity to deliver values to our customers and shareholders.”
About Champion Homes,Inc.
Champion Homes.Inc. (NYSE:SKY) is a leading producer of factory-built housing in North America and employs approximately 9,000 people. With more than 70 years of homebuilding experience and 48 manufacturing facilities throughout the United States and western Canada, Champion Homes is well positioned with an innovative portfolio of manufactured and modular homes, ADUs, park models and modular buildings for the single-family-multi-family, and hospitality sectors.
In addition to its core home building business, Champion Homes provides construction services to install and set-up factory-built homes, operates a factory-direct retail business with 72 retail locations across the United States, and operates Star Fleet Trucking, providing transportation services to the manufactured housing and other industries from several dispatch locations across the United States.
Champion Homes builds homes under some of the most well-known brand names in the factory-built housing industry, including Skyline Homes, Champion Homes, Genesis Homes, Regional Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest. Titan Homes in the U.S. and Moduline and SRI Homes in western Canada.
