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Champion Homes (SKY) Q3 FY2024 earnings: revenue $559 million, down 3.9% on the year

Champion Homes, Inc. (SKY) reported revenue of $559 million for Q3 FY2024, the quarter ended 30 December 2023, down 3.9% on the same quarter a year earlier. Net income was $47 million, down 43.3% on the year, and diluted earnings per share $0.81. The figures are the company's own, from the 10-Q it filed with the SEC on 6 February 2024.

Revenue$559 milliondown 3.9%
Net income$47 milliondown 43.3%
Diluted EPS$0.81
QuarterQ3 FY2024ended 30 December 2023

The quarter, against the one before and a year earlier

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Revenue559464n/an/a
Cost of revenue418348n/an/a
Gross profit141116n/an/a
Gross margin25.3%25.1%n/a
Selling, general and administrative85.164.5n/an/a
Operating income56.252.0n/an/a
Operating margin10.0%11.2%n/a
Pre-tax income59.760.5n/an/a
Income tax12.814.8n/an/a
Effective tax rate21.4%24.5%n/a
Net income47.045.7n/an/a
Net margin8.4%9.8%n/a
Diluted EPS$0.81$0.79n/an/a
$ million except per share.
Read moreFree 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 and capital returned

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Operating cash flow89.554.3n/an/a
Capital expenditure18.112.5n/an/a
Free cash flow71.341.8n/an/a
Free cash flow margin12.8%9.0%n/a
Cash from investing-300-149n/an/a
Cash from financing4.70.2n/an/a
Depreciation and amortisation9.76.8n/an/a
Share-based compensation4.35.5n/an/a
Buybacks0.00.0n/an/a
Diluted shares, weighted58m58mn/an/a
Shares outstanding at period end58m58mn/an/a

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

Balance sheet at quarter end

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Shareholders' equity1,4221,340n/an/a
Debt24.712.4n/an/a
Other liabilities423317n/an/a
Total liabilities and equity1,8691,669n/an/a
Fixed assets288192n/an/a
Goodwill359197n/an/a
Intangible assets79.340.3n/an/a
Cash and equivalents498701n/an/a
Receivables48.755.1n/an/a
Inventory291182n/an/a
Other assets306302n/an/a
Total assets1,8691,669n/an/a

Questions

What was Champion Homes' revenue in Q3 FY2024?

Champion Homes (SKY) reported revenue of $559 million for Q3 FY2024, the quarter ended 30 December 2023, down 3.9% on the same quarter a year earlier.

How much did Champion Homes earn in Q3 FY2024?

Net income for Q3 FY2024 was $47 million, down 43.3% on the year, and diluted earnings per share $0.81.

When did Champion Homes report Q3 FY2024 results?

Champion Homes filed its 10-Q for the quarter ended 30 December 2023 with the SEC on 6 February 2024.

Quarterly results, the last 12 quarters

Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *Q1 FY2027
Revenue464559536628617645594701684657621710
Cost of revenue348418438464451464441511496484467531
Gross profit11614198.4164166181152190188172154179
Gross margin25%25%18%26%27%28%26%27%27%26%25%25%
SG&A64.585.190.610999.7108110111113110118119
Operating income52.056.27.855.466.772.842.278.574.862.536.060.3
Operating margin11%10%1%9%11%11%7%11%11%10%6%8%
Pre-tax income60.559.712.160.971.479.046.284.378.867.540.168.1
Tax rate24%21%19%23%22%21%17%21%24%18%20%25%
Net income45.747.02.845.854.761.536.364.758.254.329.749.2
Net margin10%8%1%7%9%10%6%9%9%8%5%7%
Diluted EPS$0.79$0.81$0.05$0.79$0.94$1.06$0.63$1.13$1.03$0.97$0.53$0.89
Operating cash flow54.389.54.184.659.850.446.075.375.9100.052.772.5
Capital expenditure12.518.111.910.714.113.112.68.98.97.19.29.8
Free cash flow41.871.3-7.873.945.737.333.466.467.092.943.562.6
Buybacks0.00.00.020.020.020.020.050.050.050.050.050.0
Shares outstanding58m58m58m58m57m57m57m57m56m55m55m54m
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q
Each quarter as filed, linked to its filing.
Read more* 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 diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. 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.

Source

10-Q for the period ended 30 December 2023, filed 6 February 2024, accession 0000950170-24-011727: the filing on EDGAR. All of Champion Homes, Inc.'s filings: EDGAR company page.

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