Champion Homes, Inc. announced robust financial results for its second quarter ended September 28, 2024, with net sales increasing 32.9% to $616.9 million compared to the prior-year period. This growth was primarily driven by the Regional Homes acquisition, which contributed $148.0 million in sales, alongside healthy demand in the community sales channel.
The company's U.S. homes sold increased by 31.3% to 6,357 units, and the average selling price per U.S. home rose 4.5% to $92,400, reflecting a favorable mix shift towards higher-value retail units. Gross profit expanded by 42.8% to $166.3 million, with the gross profit margin reaching 27.0%, a 190-basis point improvement due to higher average selling prices, increased captive retail sales, and lower forest product costs.
Net income for the quarter increased by 19.8% to $54.7 million, and Adjusted EBITDA grew 26.2% to $74.2 million. Champion Homes also demonstrated a commitment to shareholder returns by repurchasing $20 million of common stock and refreshing its share repurchase authorization to $100 million on October 28, 2024, while maintaining a strong cash position of $570.2 million.
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