Champion Homes Earnings Call Transcripts
Fiscal Year 2026
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Achieved record homes sold and strong financial growth in FY26, with Q4 net sales up 4.6% year-over-year. Inflation and mix are near-term margin headwinds, but strategic acquisitions and disciplined capital allocation support long-term growth.
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Q3 net sales rose 2% year-over-year to $657M, with higher ASPs offsetting lower volumes and gross margin compression. Guidance for Q4 anticipates low single-digit revenue growth and stable margins, with continued focus on product innovation, digital strategy, and prudent capital allocation.
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Second quarter net sales rose 11% year-over-year to $684 million, with gross margin expanding to 27.5% and net income up to $58 million. Growth was driven by new products, higher multi-section home sales, and strong captive retail performance, while the outlook anticipates flat revenue and a 26% gross margin next quarter.
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First quarter net sales grew 12% to $701 million, with strong gross margin and earnings growth driven by higher average selling prices and effective cost management. Q2 revenue is expected to be flat to up slightly year-over-year, with gross margins in the 25%-26% range as demand moderates.
Fiscal Year 2025
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Fiscal 2025 saw record home deliveries and strong revenue growth, with Q4 net sales up 11% year-over-year and gross margin expanding. The company is navigating mixed demand, inflation, and regional softness, while investing in digital platforms and expanding retail through the Eisman Homes acquisition.
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Third quarter net sales rose 15% year-over-year to $645 million, with strong growth in both independent and captive retail channels. Gross margin expanded to 28.1%, and net income increased 31% to $62 million. Fourth quarter revenue is expected to grow by low double digits year-over-year.
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Second quarter results showed strong year-over-year growth in sales, gross profit, and net income, driven by successful integration of Regional Homes and robust builder-developer demand. Hurricane disruptions and election uncertainty are expected to impact near-term results, but long-term demand remains strong.
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First quarter saw 35% sales growth and strong order momentum, driven by strategic initiatives and the Regional Homes acquisition. Net income declined 11% due to margin compression and higher SG&A, but adjusted EBITDA rose. Q2 is expected to be flat or slightly down due to weather impacts.