Skyline Champion Corporation - SKY STOCK NEWS

Skyline Champion will showcase two manufactured homes, including the award-winning Odyssey model, at the Innovative Housing Showcase in Washington, D.C. from June 10-12. This exhibition highlights the company's commitment to affordable housing solutions, emphasizing innovative and sustainable designs. Wade Lyall, EVP, noted the homes' spaciousness and quality, while Mark Yost, CEO, reiterated the goal of making housing accessible for American families. Skyline Champion is a leading independent factory-built housing company in North America, employing around 8,400 people.

Skyline Champion Corporation (NYSE: SKY) reported strong financial results for Q4 and fiscal year 2022. Net sales surged 42.5% to $638.1 million, driven by an 11.1% increase in U.S. homes sold and a 30.7% rise in average selling price to $87,800. Net income climbed by 156.1% to $86.8 million, with EPS increasing to $1.51. Full-year net sales reached $2.2 billion, a 55.3% increase. The backlog grew to $1.6 billion, including $200 million for disaster relief housing.

Skyline Champion Corporation (NYSE: SKY) plans to acquire the operating assets of Manis Custom Builders, Inc. for approximately $10 million, with the transaction expected to close by the end of May. This acquisition includes a 250,000 square foot facility in Laurinburg, NC, enhancing Skyline Champion's operational capacity and efficiency in the market. The company anticipates building out a $15 million backlog from this acquisition, aiming to streamline product offerings in a challenging economic landscape.

Skyline Champion Corporation (NYSE: SKY) will report its Q4 and full-year 2022 earnings on May 23, 2022, after market close. A conference call is scheduled for May 24, 2022, at 9:00 A.M. ET to discuss these results. Interested parties can join via a webcast on the company's website or by phone, with replay options available until June 7, 2022. Skyline Champion, the largest publicly traded factory-built housing company in North America, operates 41 manufacturing facilities and employs over 8,500 people.

Skyline Champion Corporation (NYSE: SKY) has been awarded three 2022 MHI Excellence in Manufactured and Modular Home Design awards for the third consecutive year. This recognition highlights the company's commitment to innovation and quality across its housing portfolio. The award-winning models include the Nova, a multi-section manufactured home, the Sydney, a single-section tiny home, and the Graystone Cottage, a modular home designed for community living. Skyline Champion aims to provide affordable housing options while enhancing design and construction excellence.

Mavenir has appointed Erin Mulligan Nelson as an Independent Director on its Board, effective April 12. Nelson's extensive experience in digital and software sectors is expected to enhance Mavenir's strategic direction, particularly in new software business models.

Previously, she served as CEO of Bonterra and has held leadership roles at Social Solutions and Dell. Her insights in sales growth and software transformation are anticipated to be valuable for Mavenir as it advances in 5G and cloud-native technologies.

Skyline Champion Corporation (NYSE: SKY) reported robust financial results for its third quarter of fiscal 2022, ending January 1, 2022. Net sales surged 41.6% to $534.7 million, with U.S. factory-built homes sold increasing 9.2% to 5,832 units. The average selling price rose 31.7% to $83,000, reflecting rising material and labor costs. Gross profit margin expanded by 1,040 basis points to 29.4%, and net income soared 213.1% to $67.6 million, with EPS reaching $1.18. Total backlog reached $1.5 billion, demonstrating strong future demand.