Champion Homes (SKY) Q4 2026 earnings summary

Executive summary

• Achieved record homes sold in fiscal 2026, with 26,622 units and revenue of $2.66 billion, the highest since going public in 2018, and a U.S. average home selling price of $98,000.

• Adjusted EBITDA for 2026 was $308 million, with an adjusted EBITDA margin of 11.6%.

• Retail expansion increased sales centers from 18 in FY22 to 84 in FY26, including acquisitions such as Homes Direct and Iseman Homes.

• Off-site built homes positioned as affordable alternatives amid high U.S. home prices and macro uncertainty.

• Recognized with two major industry awards for innovation and excellence.

Financial highlights

• Q4 net sales reached $621.3 million, up 4.6% year-over-year; full year net sales rose 7.3% to $2.7 billion.

• Adjusted gross profit for the year was $704.3 million, with an adjusted gross margin of 26.6%.

• Adjusted net income for 2026 was $217 million ($3.85 per diluted share); Q4 adjusted net income was $37.7 million.

• Adjusted EBITDA for the year was $308.2 million; Q4 adjusted EBITDA was $55.9 million, with a 9% margin.

• Operating cash flow for the year was $303.9 million, up 26.2% from fiscal 2025; year-end cash and equivalents were $638.3 million.

Outlook and guidance

• Q1 fiscal 2027 revenue expected to be flat year-over-year; Homes Direct not included in guidance.

• Adjusted gross margin projected at 24.5%-25.5% for Q1, with inflation and mix as headwinds.

• Adjusted SG&A as a percent of sales expected at 16%-17% in Q1.

• ENERGY STAR tax credits expiring July 1, raising effective tax rate by 3%-4% in fiscal 2027.

• Focus on leveraging capacity, technology, and product innovation for profitable growth.