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Apr 01, 2023
Skyline Champion Q4 2023 Earnings Report
Skyline Champion's Q4 2023 financial performance reflected a decrease in net sales and net income compared to the prior-year period, impacted by retailer inventory destocking and reduced demand.
Key Takeaways
Skyline Champion reported a decrease in net sales by 23.0% to $491.5 million and a decrease in net income by 33.5% to $57.7 million for the fourth quarter of fiscal year 2023. The results were impacted by lower U.S. homes sold, although the average selling price increased. The company's backlog also decreased significantly from the previous quarter.
Net sales decreased by 23.0% to $491.5 million due to lower volume levels impacted by retailer inventory destocking.
U.S. homes sold decreased by 25.5% to 4,900, while the average selling price per U.S. home sold increased by 5.6% to $92,700.
Net income decreased by 33.5% to $57.7 million, driven by lower sales in the quarter.
Cash and cash equivalents increased to $747.5 million, up $312.0 million compared to the prior fiscal year end.
Forward Guidance
Skyline Champion did not provide specific forward guidance in this earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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