Skyline Champion Corporation (NYSE:SKY) Q3 2024 Results Conference Call February 6, 2024 9:00 AM ET
Company Participants
Mark Yost - President & Chief Executive Officer
Laurie Hough - Executive Vice President & Chief Financial Officer
Conference Call Participants
Greg Palm - Craig-Hallum Capital Group
Daniel Moore - CJS Securities
Colin Devine - Jefferies
Matthew Bouley - Barclays
Mike Dahl - RBC Capital Markets
Jay McCanless - Wedbush Securities
Operator
Good morning, and welcome to Skyline Champion Corporation's Third Quarter Fiscal 2024 Earnings Call. The company issued its earnings press release yesterday after the close. I would like to remind everyone that today's press release and statements made during this call include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are subject to risks and uncertainties that could cause actual results to differ materially from the company's expectations and projections. Such risks and uncertainties include the factors set forth in the earnings release and in the company's filings with the Securities and Exchange Commission.
Additionally, during today's call, the company will discuss non-GAAP measures, which it believes can be useful for evaluating its performance. A reconciliation of these measures can be found in the earnings release.
I would now like to turn the call over to Mark Yost, Skyline Champion's President and Chief Executive Officer. Please go ahead.
Once again, I would now like to turn the call over to Mark Yost, Skyline Champion's President and Chief Executive Officer. Please go ahead.
Mark Yost
Thank you for joining our earnings call and good morning, everyone. I am pleased to be joined on this call by Laurie Hough, EVP and CFO. Today, I will briefly talk about our second quarter highlights and then provide an update on activities so far in our third quarter and conclude with our thoughts on the balance of the year.
We saw healthy demand from end consumers through our captive and independent retail channels during the quarter. The Community REIT channel continues to be slow and home sales in our builder developer and retail channels improved year-over-year, while activity from our Community REIT customers remained relatively muted, primarily reflecting seasonality and inventory destocking.
The year-over-year results indicate a sustained trend in customer demand towards more affordable homes with fewer options and lower material surcharges. This led to a decrease in average selling prices per home compared to previous year. Additionally, organic order volume grew by over 230% compared to the same quarter last year. This is in line with what our independent and captive retail partners are expressing on the positive demand outlook for attainable homes.