SKYLINE CHAMPION Reports Q1 FY2024 Earnings Results for June 30 2023

☀️Earnings Overview

On August 1 2023, SKYLINE CHAMPION ($NYSE:SKY) announced its earnings results for the first quarter of FY2024, which ended on June 30 2023. Total revenue for the quarter was USD 464.8 million, a decrease of 36.0% compared to the same quarter in the previous year. Net income was USD 51.3 million, a decrease of 56.2% from the year before.

Price History

The stock opened at $69.3 before closing at $69.4, down by 0.3% from its previous closing price of 69.7. Despite the minor decrease in share price, the company’s quarter ended with a strong financial performance, which was driven by its continued focus on innovation and cost optimization. Our focus on innovation and customer service has enabled us to remain competitive in a challenging market environment and our commitment to delivering value to our customers has enabled us to report a steady financial performance.” Looking ahead to the next quarter, SKYLINE CHAMPION is confident that it can maintain its growth trajectory and deliver value to its shareholders through continued investments in research and development and improved operational efficiency. 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 conducted an analysis of SKYLINE CHAMPION‘s fundamentals, and based on our Risk Rating, SKYLINE CHAMPION is a medium risk investment in terms of financial and business aspects. We looked into all areas that could potentially pose risks, ranging from the company’s financials and debt levels, to its competitive position and management. To check out the areas of potential risk in more detail, we encourage you to register on goodwhale.com. Our platform offers a comprehensive overview of a company’s financial statements and other data points to help you make an informed decision about your investments. 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‘s financial results for the first quarter of FY2024 showed a 36.0% decrease in total revenue compared to the same period in the previous year. Net income decreased by 56.2%, indicating a sharp drop in profitability. Investors will want to pay close attention to how the company adapts its strategy to recover from this downturn, as this could indicate future performance. In the meantime, further financial analysis may be needed to determine whether SKYLINE CHAMPION is a worthwhile investment.