SKY earnings analysis
What we found in SKY's 10-K: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Champion Homes, Inc. (SKY) reported Q4 2026 revenue of $621.3 million, exceeding estimates and contributing to a fiscal year revenue increase of 7.3% to $2.7 billion. EPS for FY26 rose to $3.85, marking a 9.4% growth despite a Q4 net income decline of 18.4%. The company remains focused on expanding presence in strong housing markets and improving profitability through operational enhancements and strategic acquisitions.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Record Q4 Revenue Growth
- Q4 2026 revenue reached $621.3 million, surpassing estimates of $608.78 million.
- Annual EPS Growth
- Full year adjusted EPS increased by 9.4% to $3.85 for fiscal 2026.
- Acquisitions Enhance Growth Path
- Acquisition of Iseman Homes in May 2025 strengthens retail network and distribution.
- Gross Profit Stability
- Gross profit margin remained stable at 26.4% for FY26, compared to 26.7% in FY25.
- Free Cash Flow Increase
- FY26 generated $303.9 million in operating cash flows, up from $240.9 million in FY25.
- Improved Market Share
- U.S. market share of HUD-code homes rose to 22.5% in FY26, up from 22.0% in FY25.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining Net Income in Q4
- Q4 2026 net income fell by 18.4% year-over-year to $43.6 million.
- Decreased Backlog
- Manufacturing backlog decreased to $316.0 million in FY26 from $343.4 million in FY25.
- Litigation Risks
- Product liability claims related to water intrusion may affect financial stability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $3.68
- Gross margin
- 26.4%
- Operating margin
- 9.5%
- Segment
- U.S. Factory-Built Housing
- Segment
- Canadian Factory-Built Housing
- Segment
- Corporate/Other
What they said about what is next.
Annual outlook deferred to earnings press release / call.
The filing reads better than the one before it.
What came before.
- 10-Q · February 4, 2026
- Champion Homes reported quarterly net sales of $656,614,000 (up $11.7M, +1.8% vs prior year) and diluted EPS of $0.97 (down $0.09 vs $1.06). Gross profit and operating income contracted versus the year-ago quarter, but…
- 10-K · May 27, 2025
- Champion Homes (formerly Skyline Champion) reports fiscal 2025 net sales of approximately $2.5 billion and highlights a broad North American footprint (48 manufacturing facilities, 72 sales centers) and a strategy…
- 10-Q · October 29, 2024
- Champion Homes, Inc. reported strong growth in Q2 2024 with net sales of $616.9 million, up 32.8% year-over-year from $464.2 million. EPS increased to $0.94, surpassing estimates and representing a notable rise compared…
- 10-Q · August 7, 2024
- Champion Homes reported quarterly net sales of $627,779,000 and diluted EPS of $0.79 for the three months ended June 29, 2024. Revenue rose materially year-over-year (+$163,010,000, +35.1%) but gross and operating…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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