Champion Homes, Inc., formerly known as Skyline Champion Corporation, reported a significant increase in financial performance for the fiscal year ending March 29, 2025, with net sales reaching approximately $2.5 billion, a 22.7% increase from $2.0 billion in the previous fiscal year. The company's gross profit also rose to $664 million, up 36.7% from $486 million, resulting in a gross profit margin of 26.7%, compared to 24.0% in fiscal 2024. Net income attributable to Champion Homes increased to $198.4 million, a 35.3% rise from $146.7 million in the prior year, reflecting the company's strong operational performance and effective cost management.
The increase in revenue was primarily driven by the acquisition of Regional Homes, which contributed $593.1 million in sales for the full fiscal year, compared to $227.8 million in the previous year. The number of homes sold in the U.S. increased by 20.6%, totaling 25,273 units, while the average selling price rose to $93,300 from $90,000. However, the Canadian segment experienced a decline in sales, with net sales decreasing by 13.7% due to reduced demand in the Canadian housing market.
Operationally, Champion Homes expanded its footprint with the acquisition of Regional Homes, which added three manufacturing facilities and 43 retail sales centers in the Southeast U.S. The company also launched Champion Financing, a joint venture with Triad Financial Services, to provide tailored financing solutions for manufactured housing, enhancing its market position. As of the end of fiscal 2025, Champion Homes operated 72 retail sales centers and maintained a manufacturing backlog valued at approximately $343.4 million, indicating strong future demand.
Despite the positive financial results, the company faced challenges, including a material weakness in internal controls related to its retail operations, which was identified following the acquisition of Regional Homes. Management is actively working on remediation efforts to strengthen these controls. Looking ahead, Champion Homes anticipates continued growth driven by the demand for affordable housing, particularly among first-time homebuyers and the aging population, while remaining vigilant to market conditions and potential economic fluctuations that could impact operations.
About Champion Homes, Inc.
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