In This Story
Champion Homes Inc. (SKY-2.88%) has submitted its 10-Q filing for the quarterly period ended December 28, 2024.
The filing includes financial statements for the quarter, showing an increase in net sales to $644,925,000 from $559,455,000 in the same quarter the previous year. This increase is attributed to higher customer demand and production volumes.
Cost of sales for the quarter was $463,903,000, representing 72% of sales, compared to 75% in the same quarter of the previous year. This decrease in cost ratio is due to lower manufacturing input costs.
The company reported a gross profit of $181,022,000 for the quarter, compared to $141,272,000 in the previous year, with the increase attributed to higher sales volumes.
Selling, general, and administrative expenses increased to $108,214,000 from $85,091,000, primarily due to higher incentive compensation and investments in people and information systems.
Net income for the quarter was $61,537,000, up from $46,970,000 in the previous year. The increase is a result of higher sales volumes and gross profit.
Cash provided by operating activities was $194,852,000, while cash used in investing and financing activities was $35,012,000 and $65,854,000, respectively.
Champion Homes had a working capital of $1,020,681,000 as of December 28, 2024. The company acknowledges its dependence on positive operating results to meet future obligations.
The filing also details the acquisition of Regional Homes, which expanded the company's manufacturing and retail footprint in the Southeast U.S.
Champion Homes does not anticipate cash dividend payments to common stockholders in the near future.
The company continues to focus on expanding its manufacturing capacity and enhancing its market share through strategic acquisitions and partnerships.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Champion Homes Inc. quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.