Champion Homes Files 10-Q for Q3 2024
Ticker: SKY · Form: 10-Q · Filed: Feb 5, 2025 · CIK: 90896
Sentiment: neutral
Topics: 10-Q, quarterly-report, housing
TL;DR
Champion Homes 10-Q filed. Q3 2024 results out.
AI Summary
Champion Homes, Inc. filed its 10-Q for the period ending December 28, 2024. The filing indicates the company's fiscal year ends on March 29th. Key financial information and segment reporting, including US Factory Built Housing and Canadian Factory Built Housing, are detailed within the report.
Why It Matters
This filing provides investors with an update on Champion Homes' financial performance and operational segments for the third quarter of fiscal year 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information.
Key Numbers
- Q3 2024 — Reporting Period (Indicates the specific quarter covered by the filing.)
- 2024-12-28 — Period End Date (The date as of which the financial information is reported.)
Key Players & Entities
- Champion Homes, Inc. (company) — Filer of the 10-Q
- 2024-12-28 (date) — End of the reporting period
- 2025-02-05 (date) — Filing date
- Skyline Champion Corp (company) — Former company name
- Skyline Corp (company) — Former company name
FAQ
What is the fiscal year end for Champion Homes, Inc.?
The fiscal year end for Champion Homes, Inc. is March 29th.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted on February 5, 2025.
What were the previous names of Champion Homes, Inc.?
Champion Homes, Inc. was formerly known as Skyline Champion Corp and Skyline Corp.
What are the main operating segments mentioned in the filing?
The main operating segments mentioned are US Factory Built Housing and Canadian Factory Built Housing.
What is the SIC code for Champion Homes, Inc.?
The Standard Industrial Classification (SIC) code for Champion Homes, Inc. is 2451, which corresponds to Mobile Homes.
Filing Stats: 4,351 words · 17 min read · ~15 pages · Grade level 14.7 · Accepted 2025-02-05 16:15:23
Filing Documents
- sky-20241228.htm (10-Q) — 2917KB
- sky-ex10_1.htm (EX-10.1) — 324KB
- sky-ex10_2.htm (EX-10.2) — 69KB
- sky-ex31_1.htm (EX-31.1) — 16KB
- sky-ex31_2.htm (EX-31.2) — 16KB
- sky-ex32.htm (EX-32) — 10KB
- 0000950170-25-014483.txt ( ) — 10072KB
- sky-20241228.xsd (EX-101.SCH) — 954KB
- sky-20241228_htm.xml (XML) — 1866KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Condensed Consolidated Balance Sheets as of December 28, 2024 (unaudited) and March 30, 2024 1 Condensed Consolidated Income Statements (unaudited) for the three and nine months ended December 28, 2024 and December 30, 2023 2 Condensed Consolidated Statements of Comprehensive Income (unaudited) for the three and nine months ended December 28, 2024 and December 30, 2023 3 Condensed Consolidated Statements of Cash Flows (unaudited) for the nine months ended December 28, 2024 and December 30, 2023 4 Condensed Consolidated Statements of Stockholders' Equity (unaudited) for the three and nine months ended December 28, 2024 and December 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 17
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 30
Controls and Procedures
Item 4. Controls and Procedures 30
– OTHER INFORMATION
PART II – OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 31
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31
Other Information
Item 5. Other Information 31
Exhibits
Item 6. Exhibits 32
SIGNATURES
SIGNATURES 33 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) December 28, 2024 March 30, 2024 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 581,753 $ 495,063 Trade accounts receivable, net 68,441 64,632 Inventories, net 336,766 318,737 Other current assets 33,721 39,870 Total current assets 1,020,681 918,302 Long-term assets: Property, plant, and equipment, net 304,166 290,930 Goodwill 357,973 357,973 Amortizable intangible assets, net 67,601 76,369 Deferred tax assets 29,644 26,878 Other noncurrent assets 257,404 252,889 Total assets $ 2,037,469 $ 1,923,341 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Floorplan payable $ 88,198 $ 91,286 Accounts payable 44,695 50,820 Other current liabilities 261,269 247,495 Total current liabilities 394,162 389,601 Long-term liabilities: Long-term debt 24,696 24,669 Deferred tax liabilities 7,088 6,905 Other liabilities 83,224 79,796 Total long-term liabilities 115,008 111,370 Stockholders' Equity: Common stock, $ 0.0277 par value, 115,000 shares authorized, 57,198 and 57,815 shares issued as of December 28, 2024 and March 30, 2024, respectively 1,587 1,605 Additional paid-in capital 582,673 568,203 Retained earnings 965,008 866,485 Accumulated other comprehensive loss ( 20,969 ) ( 13,923 ) Total stockholders' equity 1,528,299 1,422,370 Total liabilities and stockholders' equity $ 2,037,469 $ 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 Nine months ended December 28, 2024 December 30, 2023 December 28, 2024 December 30, 202