What is the market's earnings forecast for Champion Homes next quarter?

What is the revenue and EPS growth rate for Champion Homes year over year?

What is Champion Homes's gross profit margin?

What were the key takeaways from Champion Homes’s earnings call?

What guidance did Champion Homes's management provide for the next earnings period?

What is Champion Homes's latest dividend and current dividend yield?

What does Champion Homes do and what are its main business segments?

What factors drove the changes in Champion Homes's revenue and profit?

- **Revenue Beat Expectations**: 11% YoY growth to $684M, driven by captive retail (37% of sales) and multi-section homes. ASP rose 7% due to product mix.
- **Gross Margin Expansion**: 27.5% margin (up 50bps) from captive sales and lower material costs. Sequential ASP growth 4%.
- **Legislative Momentum**: ROAD to Housing Act passed Senate, with potential $15K chassis cost savings. Syracuse pilot achieved homes under $250K in 6 months.
- **Regional Strength**: Northeast/Southeast outperformed West, with builder channel pipeline growth offsetting community softness.
- **Cash Return**: $50M buybacks and $150M repurchase authority, with $619M cash on hand.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 net sales increased 11% to $684 million, driven by captive retail sales (including Iseman Homes acquisition) and a 7% rise in average selling price (ASP) due to multi-section home mix. Homes sold rose 4% to 6,771 units.
- **Strategic Priorities**: Introduced new home designs for affordability, with a pilot project in Syracuse achieving homes under $250,000 in 6 months. Advocated for off-site construction through the ROAD to Housing Act, which passed the Senate.
- **Backlog Management**: Manufacturing backlog grew 4% sequentially to $313 million, with 8-week lead times. Community channel sales were down due to cautious consumer sentiment, while builder developer channel sales grew with new customers.

**【CFO Financial Commentary】**
- **Gross Margin Expansion**: Gross profit rose 13% to $188 million, with a 50 basis point increase in margin to 27.5%, driven by captive retail sales and lower material costs. Sequential ASP growth of 4% reflected product mix shifts.
- **Cost Management**: SG&A expenses increased $13 million due to variable compensation and plant closures, partially offset by a $3.7 million gain from selling idle facilities. Effective tax rate rose to 23.6% due to reduced tax credits.
- **Liquidity**: Generated $76 million in operating cash flow, with $619 million in cash. Returned $50 million to shareholders via buybacks and renewed $150 million repurchase authority.

**【Q&A Highlights】**
- **Channel Performance**: Builder developer channel pipeline growth offset community channel softness. Captive retail sales accounted for 37% of Q2 revenue (vs. 34% last year). ASP growth was mix-driven, with multi-section homes outselling single-section units.
- **Legislative Impact**: The ROAD to Housing Act could reduce chassis costs by $15,000, aiding affordability. HUD implementation timing will determine broader industry benefits.
- **Regional Trends**: Northeast and Southeast markets outperformed the West, driven by new product launches and retail channel strength. Community channel moderation expected in Q3 due to hurricanes in North Carolina and Florida.
- **Tariffs and Costs**: Q2 tariffs were half the expected 1% of material costs, but third-quarter impacts are expected to align with prior estimates. Canadian lumber tariffs added 10% to costs.


Champion Homes, Inc. (SKY) Q2 2026 Earnings Call Transcript

- **Q1 Revenue Beat**: $701M (+12% YoY), homes sold up 8%, driven by captive retail ASP growth.
- **Gross Margin Expansion**: 26.2% (+90bps) from cost control and new product pricing.
- **Strategic Investments**: $50M share buybacks, new credit facility for growth initiatives.
- **Q2 Outlook**: Flat to +1% revenue growth, cautious on community channel but optimistic on new buyer trends.
- **Tariff Mitigation**: 1% cost impact managed via sourcing and pricing, minimal near-term risk.

**【CEO Strategic Updates】**
- **New Executive Hires**: Mary Fedewa (Board member) and Alan Robertson (CHRO) to enhance team performance and HR leadership.
- **Product Innovation**: Launch of HUD Code and modular homes, featured on Designing Spaces, targeting new buyers.
- **Regulatory Progress**: Bipartisan support for Manufactured Housing for America Act, advancing off-site construction adoption.

**【CEO Q1 Performance】**
- **Revenue Growth**: Net sales $701M (+12% YoY), homes sold 7,215 (+8% YoY).
- **Channel Strength**: Captive retail ASPs up, community channel driven by new products, builder developer pipeline expansion.
- **Backlog Management**: $302M manufacturing backlog (12% sequential decline), 7-week lead time within target range.

**【CEO Q2 Outlook】**
- **Revenue Guidance**: Flat to low single-digit YoY growth due to cautious consumer sentiment.
- **Cost Management**: Proactive plant utilization and tariff navigation, fixed cost reviews.
- **Customer Focus**: 1st-time homebuyers and manufactured housing newcomers, 40% of sales in Q1.

**【CFO Financial Highlights】**
- **Top Line**: U.S. home volume +7% YoY, ASP +4% to $95K, Canada sales +50% homes sold.
- **Profitability**: Gross profit $190M (+16%), margin 26.2% (+90bps) from higher captive retail ASPs and lower material costs.
- **Liquidity**: $605M cash, $50M share buybacks, $150M repurchase authority renewed.

**【Q&A Key Themes】**
- **Market Dynamics**: Community channel moderation in Q2, but long-term growth potential with off-site construction.
- **Tariff Impact**: 1% of material costs, managed via alternative sourcing and pricing flexibility.
- **Inventory Strategy**: Captive retail working through inventory week-by-week, balanced product mix.
- **Pricing Strategy**: Market-specific adjustments to balance volume and margin in captive retail.

Champion Homes, Inc. (SKY) Q1 2026 Earnings Call Transcript

- **Record Fiscal 2025 Performance**: 26,000 homes sold (+19% YoY), revenue $2.5B (+23%). Q4 net sales $594M (+11% YoY), backlog $343M (+9% YoY).
- **Strategic Expansion**: Acquired Iseman Homes for $40M annualized revenue, targeting Plains region growth. Idled Florida factory, consolidated Canadian plants to cut costs.
- **Financial Strength**: Q4 net income $36M, EPS $0.63. Cash $610M, $20M share buybacks, $100M repurchase authority refreshed.
- **Near-Term Outlook**: Q1 2026 revenue low single-digit growth YoY, gross margin 25-26% due to consumer shift to smaller homes. Long-term margin target 26-27%.
- **Policy Catalysts**: Engaged with HUD on manufactured housing reforms, potential chassis rule change to enable 2-story homes and improve market access.

**【CEO Summary Section】**
- Fiscal 2025: 26,000 homes sold (+19% YoY), revenue $2.5B (+23%). Q4 net sales $594M (+11% YoY), homes sold 6,171 (+6% YoY). Backlog $343M (+9% YoY).
- Acquired Iseman Homes (10 retail centers, $40M annualized revenue) to expand retail footprint in Plains region. Closing expected by end of Q1 2026.
- Community channel sales up YoY, but cautious on near-term demand. Q1 2026 revenue expected low single-digit growth YoY.
- Navigating tariffs and inflation with selective price adjustments, material sourcing, and cost control. Idled Florida factory, consolidated Canadian factories to improve efficiency.
- Engaged with HUD on manufactured housing policy reforms, including potential removal of permanent chassis requirement.

**【CFO Financial Commentary】**
- Q4 2025: Net income $36M (+$33M YoY), EPS $0.63 (+$0.58 YoY). Adjusted EBITDA $53M (flat YoY), margin 8.9% (down 100bps YoY due to higher SG&A).
- Gross profit $152M (+55% YoY), margin 25.6% (up 740bps YoY due to product liability reserve reversal and captive retail sales mix).
- Sequential Q4-Q3 2025: Revenue down 8% (seasonality, weather), gross margin down due to higher material costs and lower capacity utilization.
- Near-term gross margin guided to 25-26% due to consumer shift to smaller, lower-option homes and inflation.
- Cash $610M, share buybacks $20M Q4, $100M repurchase authority refreshed.

**【Q&A Highlights】**
- **Order Rates & Geography**: Mixed spring demand, digital leads up but in-store traffic variable by region. Florida soft, Plains region strong. Community channel 28% of units but cautious on near-term pace.
- **SG&A**: Q4 increase due to marketing, tech investments, and industry shows. Temporary cost pressures expected to ease in 2026.
- **Gross Margin**: 25-26% near-term due to consumer trends; long-term target 26-27% as mix shifts to captive retail and policy reforms enable product innovation.
- **Iseman Acquisition**: $40M revenue opportunity, accretive over time via synergies and market expansion. Integration to focus on digital tools and consumer financing programs.
- **Tariffs & Inflation**: Actively managing costs, no significant tariff impact yet, but monitoring for potential price adjustments.
- **HUD Policy**: Encouraged by HUD engagement, potential chassis rule change could enable 2-story homes and improve curb appeal for off-site build homes.

Skyline Champion (SKY)-27 May 25-2025 Q4 Earnings call transcript

- **Revenue Growth**: Q3 net sales +15.3% to $645M, homes sold +13% to 6,646 units, ASP +2.8%.
- **Gross Margin Expansion**: 28.1% (vs 25.3% YoY), driven by captive retail mix and lower costs.
- **Q4 Outlook**: Low double-digit revenue growth, 26-27% gross margin normalization.
- **Tariff Strategy**: Playbook in place to balance price/volume/cost impacts.
- **Captive Retail**: 35% of U.S. sales, no channel conflict via digital enablement.
- **Disaster Recovery**: Actively pursuing FEMA orders for California wildfires and Carolinas hurricanes.

**【CEO Summary Section】**
- Third-quarter net sales increased 15.3% year-over-year to $645 million, driven by 13% growth in homes sold (6,646 units) and a 2.8% rise in average selling price (ASP) due to captive retail sales mix.
- Backlog ended Q3 at $313 million (+8% YoY), with 10 weeks of inventory (4-12 week norm), reflecting seasonal slowdown.
- Key channel performance: 
  - Independent retailers saw sales growth enabled by digital tools and new products.
  - Captive retail (Regional Homes) contributed 35% of U.S. sales, with organic growth and accretive M&A.
  - Builder developers saw project pipeline expansion, with positive feedback on new home designs.
- Q4 2025 revenue expected to grow low double-digits YoY, supported by strong Louisville Show response and spring selling season.
- Long-term focus on affordable housing demand, strategic capital deployment, and customer-centric innovation.

**【CFO Financial Commentary】**
- Gross profit rose 28% to $181 million, with margin expanding 280bps to 28.1% due to captive retail ASP growth, lower input costs, and acquisition synergies.
- SG&A increased $23 million (+24% YoY) to $108 million, driven by variable costs, captive retail investments, and technology upgrades.
- Net income climbed 31% to $62 million ($1.06 EPS), with adjusted EBITDA up 26% to $83 million (12.9% margin).
- Q4 2025 gross margin expected to normalize to 26-27%, reflecting forest product cost normalization and channel mix dynamics.
- Cash position of $582 million supported $20 million share buybacks, with $100 million repurchase authority replenished.

**【Q&A Highlights】**
1. **Order Trends & Outlook**
- Q3 orders slowed seasonally, but Q4 guidance (+low double-digits YoY) reflects strong retail traffic and Louisville Show response.
- 2026 outlook cautious on broader housing market, but optimistic on MH category growth driven by price-value proposition.

2. **Tariff & Input Cost Management**
- Playbook from COVID experience enables balanced approach to tariff impacts (Mexico/Canada/China) through price/volume/cost tradeoffs.
- 35% of SG&A variable, aligning with revenue growth; ongoing tech/people investments to support growth.

3. **Captive Retail Expansion**
- 35% of U.S. sales through captive channels, with no channel conflict as digital tools support independents.
- No immediate plans to add idle plants (6/18 total), but watching market-specific demand signals.

4. **Disaster Recovery Opportunities**
- Actively engaging with FEMA for California wildfire rebuild, with capacity ready for Carolinas hurricane relief.
- Builder developer channel growth constrained by local zoning approvals, but proof points in project execution.


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