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Jul 02, 2022
Skyline Champion Q1 2023 Earnings Report
Reported strong first quarter fiscal 2023 results driven by increased sales and earnings growth.
Key Takeaways
Skyline Champion Corporation reported a strong first quarter with a 42.3% increase in net sales to $725.9 million and a 173.1% increase in net income to $117.2 million compared to the prior-year period. The growth was driven by demand for homes and increased production levels. The company's ongoing efforts to streamline product offerings and invest in capacity and people are paying off as they sequentially reduced backlog and improved delivery times.
Net sales increased 42.3% to $725.9 million.
U.S. homes sold increased 6.9% to 6,813.
Average selling price per U.S. home sold increased 35.1% to $97,000.
Net income increased by 173.1% to $117.2 million.
Forward Guidance
Skyline Champion expects awareness of their housing solutions to continue to increase given the tighter economic environment and challenges within the traditional site-built home market.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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