Welcome to our dedicated page for Champion Homes news (Ticker: SKY), a resource for investors and traders seeking the latest updates and insights on Champion Homes stock.
Skyline Champion Corporation (symbol: SKY), founded in 1951 in Elkhart, Indiana, is a leading factory-built housing company in North America. Initially known for producing affordable mobile homes, Skyline has evolved to offer a diverse portfolio of manufactured and modular homes, park model RVs, accessory dwelling units (ADUs), and modular buildings. These products serve a variety of sectors, including multi-family, hospitality, senior, and workforce housing.
Over its 50-plus years of operation, Skyline has built more than 870,000 homes and 460,000 recreational vehicles, establishing a reputation for quality and integrity. The company is committed to delivering the best products at competitive prices, maintaining strong relationships with communities, suppliers, and retailers. Notable brand names under Skyline Champion include Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes in the U.S., as well as Moduline and SRI Homes in Canada.
Skyline Champion's operations are primarily focused on the U.S. factory-built housing segment, which generates the majority of its revenue. The company continues to innovate and expand its offerings to meet the evolving needs of its customers.
Recent Achievements and Current Projects:
- Recent Acquisitions: Skyline Champion has made strategic acquisitions to expand its market reach and product offerings.
- Financial Stability: The company is financially stable, with strong revenue growth and profitability.
- Partnerships: Collaborations with key stakeholders to enhance product quality and customer satisfaction.
For the latest updates and news on Skyline Champion Corporation, please refer to the news section below.
Champion Homes (NYSE: SKY) announced a leadership transition, appointing Tim Larson as President, CEO, and Board member, effective immediately. Larson, who joined the company in 2021 as Chief Growth Officer, succeeds Mark Yost in these roles. In his previous position, Larson led the company's direct-to-consumer growth and brand transformation initiatives. He brings executive experience from roles as CEO of Jostens and CMO at Polaris Industries.
Board Chair Eddie Capel expressed confidence in Larson's leadership capabilities and noted that the company remains on track for solid third-quarter results. The transition aims to capitalize on new opportunities and continue building on the progress achieved during Yost's tenure.
Champion Homes has delivered a manufactured home in Versailles, Kentucky, as part of a pilot program addressing housing shortages in Central Kentucky. The initiative, developed in collaboration with the Kentucky Manufactured Housing Institute (KMHI) and Versailles City Council, showcases factory-built housing as an affordable housing solution.
The pilot house is a CrossMod home, combining off-site and on-site construction features, and qualifies for Fannie Mae's MH Advantage™ financing. As an ENERGY STAR 3 certified home, it offers 20% more energy efficiency than typical new homes, potentially saving homeowners around $250 annually in energy costs.
Champion Homes partners with iUnit Communities to build sustainable housing in Accomack County, Virginia, supported by a Virginia Housing Innovation Grant. The project includes two modular Innovation Cottages to be constructed at Champion's Liverpool, PA factory. The 3-bedroom, 2-bathroom cottages will feature GAF Energy's Timberline Solar™ shingle roofing system and Insul-Stud® energy-efficient building material. The collaboration builds on previous joint research, including a 380-square-foot modular studio apartment prototype tested at the National Renewable Energy Laboratory.
Champion Homes has unveiled The Neighborhood Village (TNV) in Goshen, California, marking a significant milestone in addressing homelessness. The development, which opened on September 26, 2024, features 53 residential units across 6.5 acres, constructed at Champion's Lindsay facility under the Redman Homes brand.
This first-of-its-kind permanent supportive housing community includes amenities like a park, library, and outdoor theater, along with on-site wellness programs and job training opportunities. The project is a collaboration between Salt + Light Works and Self Help Enterprises, supported by various local organizations and government agencies.
The development is now at full capacity, offering a new model for addressing chronic homelessness through comprehensive support services and community integration.
Champion Homes (NYSE: SKY) reported strong Q2 fiscal 2025 results with net sales increasing 32.9% to $616.9 million. U.S. homes sold rose 31.3% to 6,357 units, while ASP per U.S. home increased 4.5% to $92,400. The company achieved a gross profit margin of 27.0%, expanding 190 basis points year-over-year. Net income grew 19.8% to $54.7 million, with EPS rising 19% to $0.94. Total backlog increased 5.6% to $427 million from the previous quarter. The company maintained strong liquidity with $570.2 million in cash and repurchased $20 million of shares during the quarter.
Champion Homes (NYSE: SKY) has announced the release date for its second quarter fiscal year 2025 earnings report. The company will disclose its financial results after the market closes on Monday, October 28, 2024. Following this, Champion Homes will host a conference call on Tuesday, October 29, 2024, at 8:00 A.M. Eastern Time to discuss the results.
Investors and interested parties can participate in the conference call through various means:
- Webcast: Available on the Investor Relations section of Champion Homes' website at ir.championhomes.com
- Phone: Dial (877) 407-4018 (domestic) or (201) 689-8471 (international)
A replay of the call will be accessible until November 12, 2024, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international), using the passcode 13749107.
Champion Homes and Quartz Properties have unveiled Belle Meadow, a 90-unit build-to-rent community in Asheville, NC. This development showcases offsite and modular construction techniques, offering a solution to the region's housing availability needs. Belle Meadow comprises 30 single-family homes and 30 duplexes across nearly 10 acres in the Blue Ridge Mountains.
Each home features four bedrooms, three bathrooms, and averages 1,600 sq. ft. The project demonstrates the efficiency of modular construction, with homes built off-site and finished on location. Notably, the community is opening for tenants just 6 months after the first home was set, with all 90 homes expected to be completed within one year of starting vertical construction.
Champion Homes, formerly Skyline Champion (NYSE: SKY), reported strong Q1 fiscal 2025 results. Highlights include:
- Net sales increased 35.1% to $627.8 million
- U.S. homes sold increased 35.7% to 6,538
- Total backlog increased 28.2% to $405 million
- Average selling price per U.S. home rose 3.0% to $91,700
- Net income decreased 10.7% to $45.8 million
- Adjusted EBITDA increased 12.2% to $75.0 million
The company experienced increased demand, reflecting benefits from strategic investments in retail expansion and addressing the growing need for attainable housing. However, gross profit margin contracted by 170 basis points to 26.2%, and SG&A expenses increased due to acquisitions and higher variable compensation.
Champion Homes (NYSE: SKY) has appointed Laurel Krueger as Senior Vice President, General Counsel and Secretary, effective August 1, 2024. Krueger brings over 20 years of experience in corporate governance, securities law, and regulatory compliance. She previously held leadership roles at Express, Inc. and Kontoor Brands, Inc.
CEO Mark Yost praised Krueger's extensive background and alignment with Champion Homes' values. The appointment follows the retirement of Robert M. Spence, who served in the same role for five years. Yost acknowledged Spence's contributions, particularly in strategic expansion initiatives such as the acquisition of Regional Homes and investment in ECN Capital.
Skyline Homes, a Champion Homes brand, has been named America's Most Trusted® Manufactured Home Builder for the fourth consecutive year. With a Net Trust Quotient Score of 98.5, Skyline Homes secured the highest trust rating among prominent builders in the manufactured home industry.
Trust is important in today's competitive housing landscape, as it influences customer purchases, long-term brand commitment, and referrals. Skyline Homes builds trust through:
- Designing homes to enhance buyers' lifestyles
- Dedication to quality materials
- Exhaustive quality control process
- Ongoing customer support beyond closing
Champion Homes President and CEO Mark Yost emphasized the company's commitment to excellence in quality, customer experience, and satisfaction.
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