SKYLINE CHAMPION Reports First Quarter Earnings Results for FY2024 on August 1, 2023

☀️Earnings Overview

SKYLINE CHAMPION ($NYSE:SKY) announced its earnings results for the first quarter of FY2024, ending on June 30 2023, on August 1 2023. Total revenue for this period was USD 464.8 million, a decrease of 36.0% compared to the prior year. Net income during this quarter was USD 51.3 million, a drop of 56.2% year-over-year.

Price History

Stock opened at $69.3 and closed at $69.4, a decrease of 0.3% from the previous closing of $69.7. The company attributed the success of its first quarter results to strong demand in the housing industry and successful cost-saving efforts related to material purchases and manufacturing operations. Going forward, SKYLINE CHAMPION expects to maintain its current momentum and deliver consistent growth in the coming quarters. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Skyline Champion. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Skyline Champion. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Skyline Champion. More…

Key Ratios Snapshot

Some of the financial key ratios for Skyline Champion are shown below. More…

Analysis

At GoodWhale, we’ve evaluated the financials of SKYLINE CHAMPION to give you the most accurate assessment of its investment potential. We’ve assigned SKYLINE CHAMPION a medium risk rating, indicating that while there are potential risks associated with investing in this company, there is a good chance of success. When making any investment decision, it’s important to be aware of all the potential risks. That’s why we’ve made it easy to register on our website and check out the business and financial areas with potential risks. Our ratings and analyses can help you make an informed decision about your investment in SKYLINE CHAMPION. GoodWhale can also help you compare SKYLINE CHAMPION to other companies in the industry, so you can truly understand its competitive landscape and make the best investment decision possible. More…

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 reported their first quarter results of FY2024 ending June 30, 2023, with total revenue of USD 464.8 million, a 36.0% year-over-year decrease. Net income was USD 51.3 million, a 56.2% year-over-year decrease. Investing in SKYLINE CHAMPION could be a risky venture, as the company has seen a decrease in both revenue and net income during the past year. It will be important for investors to consider the company’s outlook and performance in the coming quarters before deciding whether or not to invest.