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Mar 30, 2024
Skyline Champion Q4 2024 Earnings Report
Skyline Champion reported mixed results for Q4 2024, with increased net sales and US homes sold offset by lower gross profit margins and net income.
Key Takeaways
Skyline Champion's Q4 2024 saw a 9.1% increase in net sales to $536.4 million and a 15.3% rise in US homes sold, driven by the Regional Homes acquisition. However, gross profit margin contracted significantly due to remediation costs for water intrusion issues, leading to a 95.2% decrease in net income to $2.8 million. The company also announced a new $100 million share repurchase program.
Net sales increased by 9.1% to $536.4 million compared to the prior-year period.
U.S. homes sold increased by 15.3% to 5,652, influenced by the Regional Homes acquisition.
Gross profit margin contracted by 1,040 basis points to 18.3%, impacted by $34.5 million in remediation costs.
Net income decreased by 95.2% to $2.8 million due to lower gross profit margins and increased SG&A spend.
Revenue by Geographic Location
Forward Guidance
Skyline Champion did not provide specific financial guidance in the earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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