Champion Homes (SKY) Q3 FY2022 earnings: revenue $535 million, up 41.6% on the year

Champion Homes, Inc. (SKY) reported revenue of $535 million for Q3 FY2022, the quarter ended 1 January 2022, up 41.6% on the same quarter a year earlier as this quarter's filing gives it. Net income was $68 million, up 213.1% on the year as this quarter's filing gives it, and diluted earnings per share $1.18. The figures are the company's own, from the 10-Q it filed with the SEC on 3 February 2022.

Revenue

$535 million

+41.6% on the year · +2.0% on the quarter

Q4 FY2020Q3 FY2022

Operating margin

17.1%

Q4 FY2020Q3 FY2022

Net income

$68 million

+213.1% on the year · +33.3% on the quarter

Q4 FY2020Q3 FY2022

Diluted EPS

$1.18

+210.5% on the year · +32.6% on the quarter

Q4 FY2020Q3 FY2022

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q3 FY2022	Q2 FY2022	Q3 FY2021	On the quarter	On the year
Revenue	535	524	378	+2.0%	+41.6%
Cost of revenue	377	n/a	n/a
Gross profit	157	n/a	n/a
Gross margin	29.4%	n/a	n/a
Selling, general and administrative	65.8	n/a	n/a
Operating income	91.4	68.0	n/a	+34.5%
Operating margin	17.1%	13.0%	n/a
Interest expense	0.5	n/a	n/a
Pre-tax income	90.9	n/a	n/a
Income tax	23.3	n/a	n/a
Effective tax rate	25.6%	n/a	n/a
Net income	67.6	50.7	21.6	+33.3%	+213.1%
Net margin	12.6%	n/a	n/a
Diluted EPS	$1.18	$0.89	$0.38	+32.6%	+210.5%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2022	Q2 FY2022	Q3 FY2021	On the quarter	On the year
Operating cash flow	75.5	n/a	n/a
Capital expenditure	7.7	n/a	n/a
Free cash flow	67.8	n/a	n/a
Free cash flow margin	12.7%	n/a	n/a
Cash from investing	-7.7	n/a	n/a
Cash from financing	4.2	n/a	n/a
Depreciation and amortisation	5.2	5.2	n/a	+1.6%
Share-based compensation	1.9	n/a	n/a
Diluted shares, weighted	57m	57m	n/a	+0.2%
Shares outstanding at period end	57m	57m	57m	+0.0%	+0.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2022	Q2 FY2022	Q3 FY2021	On the quarter
Shareholders' equity	733	663	n/a	+10.6%
Debt	12.4	12.4	n/a	0.0%
Other liabilities	322	n/a	n/a
Total liabilities and equity	1,068	n/a	n/a
Fixed assets	127	n/a	n/a
Goodwill	192	n/a	n/a
Intangible assets	53.2	n/a	n/a
Cash and equivalents	382	310	n/a	+23.2%
Receivables	46.2	n/a	n/a
Inventory	185	n/a	n/a
Other assets	82.4	n/a	n/a
Total assets	1,068	n/a	n/a

Questions

What was Champion Homes' revenue in Q3 FY2022?

Champion Homes (SKY) reported revenue of $535 million for Q3 FY2022, the quarter ended 1 January 2022, up 41.6% on the same quarter a year earlier as the company restated it.

How much did Champion Homes earn in Q3 FY2022?

Net income for Q3 FY2022 was $68 million, up 213.1% on the year, and diluted earnings per share $1.18.

When did Champion Homes report Q3 FY2022 results?

Champion Homes filed its 10-Q for the quarter ended 1 January 2022 with the SEC on 3 February 2022.

Quarterly results, the last 20 quarters

	Q3 FY2022	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023 * †	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	535	638	726	807	582	492	465	464	559	536	628	617	645	594	701	684	657	621	710	727
Cost of revenue	377	447	497	533	408	350	335	348	418	438	464	451	464	441	511	496	484	467	531	541
Gross profit	157	191	229	274	174	141	130	116	141	98.4	164	166	181	152	190	188	172	154	179	186
Gross margin	29%	30%	32%	34%	30%	29%	28%	25%	25%	18%	26%	27%	28%	26%	27%	27%	26%	25%	25%	26%
SG&A	65.8	75.0	72.3	83.9	71.8	72.4	70.4	64.5	85.1	90.6	109	99.7	108	110	111	113	110	118	119	120
Operating income	91.4	116	157	190	102	68.8	59.2	52.0	56.2	7.8	55.4	66.7	72.8	42.2	78.5	74.8	62.5	36.0	60.3	65.8
Operating margin	17%	18%	22%	24%	18%	14%	13%	11%	10%	1%	9%	11%	11%	7%	11%	11%	10%	6%	8%	9%
Interest expense	0.5	1.2	0.1	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	90.9	115	158	192	108	76.5	68.5	60.5	59.7	12.1	60.9	71.4	79.0	46.2	84.3	78.8	67.5	40.1	68.1	73.1
Tax rate	26%	25%	26%	25%	23%	24%	25%	24%	21%	19%	23%	22%	21%	17%	21%	24%	18%	20%	25%	24%
Net income	67.6	86.8	117	144	82.8	57.7	51.3	45.7	47.0	2.8	45.8	54.7	61.5	36.3	64.7	58.2	54.3	29.7	49.2	52.7
Net margin	13%	14%	16%	18%	14%	12%	11%	10%	8%	1%	7%	9%	10%	6%	9%	9%	8%	5%	7%	7%
Diluted EPS	$1.18	$1.51	$2.04	$2.51	$1.44	$1.00	$0.89	$0.79	$0.81	$0.05	$0.79	$0.94	$1.06	$0.63	$1.13	$1.03	$0.97	$0.53	$0.89	$0.97
Operating cash flow	75.5	60.1	47.4	231	85.5	52.2	74.9	54.3	89.5	4.1	84.6	59.8	50.4	46.0	75.3	75.9	100.0	52.7	72.5	43.0
Capital expenditure	7.7	9.2	9.4	16.2	12.6	14.1	10.3	12.5	18.1	11.9	10.7	14.1	13.1	12.6	8.9	8.9	7.1	9.2	9.8	12.1
Free cash flow	67.8	50.9	38.0	215	72.9	38.1	64.5	41.8	71.3	-7.8	73.9	45.7	37.3	33.4	66.4	67.0	92.9	43.5	62.6	30.8
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	0.0	0.0	20.0	20.0	20.0	20.0	50.0	50.0	50.0	50.0	50.0	50.0
Shares outstanding	57m	57m	57m	57m	57m	57m	57m	58m	58m	58m	58m	57m	57m	57m	57m	56m	55m	55m	54m	54m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 1 January 2022, filed 3 February 2022: the filing.