The following is a summary of the Skyline Champion Corporation (SKY) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Skyline Champion reported over $2 billion in top line revenue in fiscal 2024 and $536 million in net sales in Q4, a 9% increase compared to the same quarter last year.

• The company sold 5,652 units in the US, marking a 15% increase in home sales.

• Consolidated gross profit saw a 30% decrease to $98 million in Q4.

• The company recorded a $34.5 million reserve for estimated water intrusion remediation costs in Q4.

• The backlog at year-end stood at $316 million, a 9% sequential increase.

Business Progress:

• The company has been expanding through investments in integrated solutions for retail, financial services, and home completion.

• A share repurchase program for up to $100 million of common stock was approved.

• The company is working on aligning synergies and system capabilities after making recent investments and acquisitions.

• New programs including floor plan financing and consumer financing were introduced in a partnership with Triad.

• The company aims for low double-digit sequential revenue growth for the next fiscal quarter.

• To improve visibility of their solutions, efforts are being made to enhance the digital lead management system.

• Production is planned to be ramped up gradually with a focus on maintaining quality and ensuring backlogs are within a 4 to 12-week range.

• Expansion efforts are being planned, particularly in regions with small presence like Mississippi and Alabama in response to potential retirements from independent retailers.

• The company expects 10% to 15% revenue growth in fiscal year 2025.

• The company is testing a rate buy down program in partnership with Triad.

• The gross margin is expected to decrease in the next few quarters due to inventory issues and higher interest rates.

More details: Skyline IR

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