Skyline Champion Corporation (NYSE:SKY) Q1 2025 Earnings Conference Call August 7, 2024 9:00 AM ET

Company Participants

Mark Yost - President & CEO
Laurie Hough - EVP & CFO

Conference Call Participants

Greg Palm - Craig-Hallum Capital Group
Daniel Moore - CJS Securities
Mike Dahl - RBC Capital Markets
Phil Ng - Jefferies
Matthew Bouley - Barclays
Jay McCanless - Wedbush Securities

Operator

Good morning, and welcome to Champion Homes Inc. First Quarter Fiscal 2025 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 financial measures, which it believes can be useful in evaluating its performance. A definition and reconciliation of these measures can be found in the earnings release.

I would now like to turn the call over to Mark Yost, Champion Homes’ President and Chief Executive Officer. Please go ahead.

Mark Yost

Thank you for joining our earnings call today and good morning, everyone. I am pleased to be joined by Laurie Hough, our EVP and CFO. On this call, I will first go over the key points from our first quarter, then discuss our progress in the second quarter so far, and conclude with thoughts about the balance of the year.

I'm pleased to report that the positive momentum we carried from our fourth quarter has not only continued, but strengthened, primarily due to the traction of our strategic initiatives. Our first quarter results reflects good execution across our business, notably in enhancing our customer channels, advancing the integration of Regional Homes and realizing the early benefits from our Champion Financing joint venture. These achievements are closely aligned with our strategic focus, which are increasingly critical in addressing the rising demand for affordable housing amid limited supply.

The quarter showcased robust growth with home sales climbing 33% year-over-year to reach 6,705 units. Additionally, organic sale orders increased 60% year-over-year, underscoring strong market demand. This growth was supported by our strategic acquisition and improving activity in our retail, builder developer and community channels. Demand in Canada remains soft as inflation and economic uncertainty is weighing on the consumer sentiment and enthusiasm for new home purchases in that market.