SKYLINE CHAMPION Reports 36.0% Decrease in Revenue for First Quarter of FY2024
August 16, 2023
☀️Earnings Overview
SKYLINE CHAMPION ($NYSE:SKY) announced their earnings results for the first quarter of FY2024 on August 1 2023; these consisted of USD 464.8 million in revenue representing a 36.0% decrease year-over-year, as well as net income of USD 51.3 million, a 56.2% decrease year-over-year.
Analysis
GoodWhale’s analysis of SKYLINE CHAMPION‘s wellbeing has concluded that the company is classified as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This makes it an attractive option for investors looking for a company with potential for growth but without too much risk. SKYLINE CHAMPION is particularly strong in asset, growth, and profitability, although its dividend income is relatively low. The company also has a high health score of 10/10 based on its cashflows and debt, indicating that it is capable of paying off its debt and funding future operations. With its moderate growth prospects and low risk profile, SKYLINE CHAMPION may be an attractive investment for a number of investors. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Skyline Champion. More…
| Total Revenues | Net Income | Net Margin |
| 2.35k | 335.92 | 14.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Skyline Champion. More…
| Operations | Investing | Financing |
| 443.66 | -67.82 | -40.04 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Skyline Champion. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.62k | 326.74 | 22.59 |
Key Ratios Snapshot
Some of the financial key ratios for Skyline Champion are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 22.7% | 77.2% | 19.1% |
| FCF Margin | ROE | ROA |
| 16.6% | 22.2% | 17.3% |
Peers
Skyline Champion Corp is one of the leading homebuilders in the United States. The company’s main competitors are Meritage Homes Corp, Tri Pointe Homes Inc, and KB Home.
– Meritage Homes Corp ($NYSE:MTH)
Meritage Homes Corp is a homebuilder in the United States. As of 2022, the company has a market capitalization of 3.06 billion dollars and a return on equity of 23.05%. The company builds homes for a variety of different price points and markets, and has a focus on sustainability and energy efficiency.
– Tri Pointe Homes Inc ($NYSE:TPH)
Tri Pointe Homes Inc is a homebuilding company that focuses on the development of single-family homes. The company operates in various states in the United States, including Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Maryland, Nevada, North Carolina, Ohio, Oklahoma, Oregon, South Carolina, Texas, and Virginia. As of 2022, the company has a market cap of 1.86B and a ROE of 16.87%.
– KB Home ($NYSE:KBH)
KB Home is a homebuilding company headquartered in Los Angeles, California. It is one of the largest homebuilders in the United States. The company builds and sells single-family detached and attached homes, townhomes, and condominiums in the United States. It operates in four segments: West Coast, Central, Southeast, and South Central. The company was founded in 1957 and is headquartered in Los Angeles, California.
Summary
Skyline Champion Corporation reported their Q1 FY2024 results on August 1, 2023, revealing a 36.0% decrease in revenue to USD 464.8 million, and a 56.2% decrease in net income to USD 51.3 million. This represents a major decline in performance for the company, and investors are likely to be concerned about the company’s prospects going forward. Nevertheless, Skyline Champion remains a viable investment option due to its considerable assets and strong balance sheet. Analysts will be keeping a close eye on the company’s quarterly performance in the coming months to see if it can turn around its fortunes.
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