Champion Homes, Inc. announced strong financial results for its third quarter ended December 28, 2024, with net sales increasing 15.3% to $644.9 million compared to the prior-year period. The company's U.S. homes sold increased by 14.1% to 6,437 units, driven by increased demand across all sales channels.
The average selling price per U.S. home sold rose 2.8% to $94,900, attributed to a higher volume of sales through company-owned retail centers. Gross profit increased by 28.1% to $181.0 million, with the gross profit margin expanding by 280-basis points to 28.1% of net sales, benefiting from higher average selling prices and lower input costs.
Net income for the quarter increased by 31.0% to $61.5 million, and Adjusted EBITDA grew 25.7% to $83.3 million. Champion Homes also repurchased $20 million of its common stock during the quarter and refreshed its share repurchase authorization to $100 million on January 30, 2025, demonstrating continued capital allocation to shareholders.
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