Champion Homes Inc

Latest Results (15.05.2026):

Champion Homes, Inc. — third quarter fiscal 2026 (three months ended December 27, 2025): net sales rose 1.8% to $656.6 million while volumes softened (U.S. homes sold down 2.6% to 6,270). Average selling price increased 4.6% to $99,300, but gross margin compressed 190 basis points to 26.2%, driving net income down 11.7% to $54.3 million and diluted EPS to $0.97. Adjusted EBITDA fell 10.2% to $74.8 million. The company generated strong operating cash, repurchased $50.0 million of stock in the quarter, and ended the period with $659.8 million of cash and equivalents.

Top-line and volume

Net sales increased 1.8% to $656.6M. U.S. homes sold decreased 2.6% to 6,270 (weaker community REIT channel and prior-year weather-driven shift), while Canadian factory-built home sales rose 2.9% to 215.

Pricing and mix

ASP per U.S. home sold rose 4.6% to $99,300, driven by product mix changes and higher prices at company-owned retail centers.

Profitability

Gross profit fell 4.9% to $172.2M and gross margin compressed to 26.2% (‑190 bps) primarily from higher material costs and reduced fixed-cost absorption; SG&A was $109.7M (16.7% of sales), largely reflecting the May 2025 Iseman Homes acquisition.

Earnings and adjusted results

Net income attributable to Champion Homes, Inc. declined 11.7% to $54.3M and diluted EPS was $0.97 (‑8.5%). Adjusted EBITDA decreased 10.2% to $74.8M and adjusted EBITDA margin was 11.4% (‑150 bps).

Backlog and pipeline

Backlog declined 15.1% sequentially to $266.0M as of the quarter end, indicating a pullback in near-term booked demand.

Cash, buybacks and liquidity

Champion Homes ended the quarter with $659.8M in cash and cash equivalents (up $41.0M in the quarter), generated $100.0M of operating cash in the quarter, repurchased and retired $50.0M of common stock during the quarter, and the board refreshed authorization to allow up to $150M of future repurchases.

Balance sheet snapshot

Total assets were $2.114B; inventories were $341.3M and trade receivables $67.1M. Floorplan payables declined to $95.3M and long-term debt remained modest at $23.8M.

Management commentary & strategy

Management highlighted operational execution, progress on digital and retail strategies, product differentiation across price points, and a new board chair appointment—positioning the company to pursue growth despite a challenging near-term environment.