Champion Homes Files 10-Q for Q3 2024
Ticker: SKY · Form: 10-Q · Filed: Oct 29, 2024 · CIK: 90896
Sentiment: neutral
Topics: 10-Q, financials, mobile-homes
TL;DR
Champion Homes 10-Q filed. Financials and operations updated for Q3 2024.
AI Summary
Champion Homes, Inc. filed its 10-Q for the period ending September 28, 2024. The filing details financial performance and operational updates for the company, which is a manufacturer of mobile homes. Specific financial figures and segment performances are outlined within the report.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational status of Champion Homes, Inc., crucial for understanding its market position and future prospects in the mobile home industry.
Risk Assessment
Risk Level: medium — The company operates in the cyclical mobile home industry, which can be sensitive to economic downturns and interest rate changes.
Key Numbers
- 2024-09-28 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
- 2024-06-30 — Previous Quarter End Date (Provides a point of comparison for financial performance.)
- 2023-09-30 — Prior Year Quarter End Date (Allows for year-over-year performance analysis.)
Key Players & Entities
- Champion Homes, Inc. (company) — Filer of the 10-Q
- September 28, 2024 (date) — End of the reporting period
- 20241029 (date) — Filing date
- Skyline Champion Corp (company) — Former company name
FAQ
What were the key financial highlights for Champion Homes in the quarter ending September 28, 2024?
The 10-Q filing for the period ending September 28, 2024, provides detailed financial statements, but specific dollar amounts for revenue, net income, or other key metrics are not directly extractable from the provided header information.
What are the main business segments of Champion Homes, Inc. as indicated in this filing?
The filing mentions 'USFactoryBuiltHousingMember' and 'CanadianFactoryBuiltHousingMember' as operating segments.
When was Champion Homes, Inc. previously known by another name?
The company was formerly known as Skyline Champion Corp, with a name change date of June 1, 2018.
What is the Standard Industrial Classification (SIC) code for Champion Homes, Inc.?
The SIC code listed for Champion Homes, Inc. is 2451, which corresponds to MOBILE HOMES.
What is the physical address of Champion Homes, Inc.'s business operations?
The business address is listed as 755 W BIG BEAVER ROAD, SUITE 1000, TROY, MI 48084.
Filing Stats: 4,344 words · 17 min read · ~14 pages · Grade level 14.2 · Accepted 2024-10-29 16:15:23
Filing Documents
- sky-20240928.htm (10-Q) — 2254KB
- sky-ex31_1.htm (EX-31.1) — 15KB
- sky-ex31_2.htm (EX-31.2) — 15KB
- sky-ex32.htm (EX-32) — 9KB
- 0000950170-24-118247.txt ( ) — 8096KB
- sky-20240928.xsd (EX-101.SCH) — 935KB
- sky-20240928_htm.xml (XML) — 1468KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Condensed Consolidated Balance Sheets as of September 28, 2024 (unaudited) and March 30, 2024 1 Condensed Consolidated Income Statements (unaudited) for the three and six months ended September 28, 2024 and September 30, 2023 2 Condensed Consolidated Statements of Comprehensive Income (unaudited) for the three and six months ended September 28, 2024 and September 30, 2023 3 Condensed Consolidated Statements of Cash Flows (unaudited) for the six months ended September 28, 2024 and September 30, 2023 4 Condensed Consolidated Statements of Stockholders' Equity (unaudited) for the three and six months ended September 28, 2024 and September 30, 2023 5 Notes to Condensed Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 16
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 29
Controls and Procedures
Item 4. Controls and Procedures 29
– OTHER INFORMATION
PART II – OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 30
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30
Other Information
Item 5. Other Information 30
Exhibits
Item 6. Exhibits 31
SIGNATURES
SIGNATURES 32 i EXPLANATORY NOTE On August 5, 2024, Skyline Champion Corporation changed its name to Champion Homes, Inc., which we refer to in this Quarterly Report on Form 10-Q as the "name change." Unless the context otherwise requires, references herein to the "Company," "we," "us," or "our" refer to Skyline Champion Corporation for periods ending on or before the name change and to Champion Homes, Inc. for any references to the Company after the name change. ii
- FINANCI AL INFORMATION
PART I - FINANCI AL INFORMATION
Financi al Statements
Item 1. Financi al Statements Champion Homes, Inc. Condensed Consolida ted Balance Sheets (Dollars and shares in thousands, except per share amounts) September 28, 2024 March 30, 2024 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 570,231 $ 495,063 Trade accounts receivable, net 74,755 64,632 Inventories, net 325,534 318,737 Other current assets 43,594 39,870 Total current assets 1,014,114 918,302 Long-term assets: Property, plant, and equipment, net 300,840 290,930 Goodwill 357,973 357,973 Amortizable intangible assets, net 70,491 76,369 Deferred tax assets 27,784 26,878 Other noncurrent assets 256,470 252,889 Total assets $ 2,027,672 $ 1,923,341 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Floorplan payable $ 85,978 $ 91,286 Accounts payable 64,260 50,820 Other current liabilities 268,446 247,495 Total current liabilities 418,684 389,601 Long-term liabilities: Long-term debt 24,690 24,669 Deferred tax liabilities 7,297 6,905 Other liabilities 84,745 79,796 Total long-term liabilities 116,732 111,370 Stockholders' Equity: Common stock, $ 0.0277 par value, 115,000 shares authorized, 57,384 and 57,815 shares issued as of September 28, 2024 and March 30, 2024, respectively 1,592 1,605 Additional paid-in capital 579,685 568,203 Retained earnings 924,408 866,485 Accumulated other comprehensive loss ( 13,429 ) ( 13,923 ) Total stockholders' equity 1,492,256 1,422,370 Total liabilities and stockholders' equity $ 2,027,672 $ 1,923,341 See accompanying Notes to Condensed Consolidated Financial Statements. 1 Champion Homes, Inc. Condensed Consol idated Income Statements (Unaudited, dollars in thousands, except per share amounts) Three months ended Six months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30