Month: August 2024

TROY, Mich. – Champion Homes Inc., formerly known as Skyline Champion Corporation (NYSE: SKY), today announced financial results for its first quarter ended June 29, 2024.

First Quarter Fiscal 2025 Highlights (compared to First Quarter Fiscal 2024)

• Net sales increased 35.1% to $627.8 million
• U.S. homes sold increased 35.7% to 6,538
• Total backlog increased 28.2% to $405 million from the sequential fourth quarter
• Average selling price (“ASP”) per U.S. home sold increased 3.0% to $91,700
• Gross profit margin contracted by 170 basis points to 26.2%
• Net income decreased by 10.7% to $45.8 million
• Earnings per diluted share (“EPS”) decreased 11.2% to $0.79
• Adjusted net income increased 3.5% to $53.0 million
• Adjusted earnings per share (“Adjusted EPS”) increased 2.2% to $0.91
• Adjusted EBITDA increased 12.2% to $75.0 million
• Adjusted EBITDA margin contracted by 250 basis points to 11.9%
• Net cash generated by operating activities of $84.6 million during the quarter
• Repurchased $20.0 million of shares under the previously announced share repurchase program

“I am excited to announce that our shareholders approved our corporate company name change to Champion Homes, Inc. during our annual meeting this year. The name change aligns with our previously launched Champion Homes flagship brand supporting a unified Company, our purpose of championing home attainability and the customer experience, as well as the company’s direct-to-consumer marketing and digital expansion,” said Mark Yost, Champion Homes’ president, and chief executive officer.

“In addition, I am pleased to report Champion Homes delivered strong results for the first quarter of fiscal 2025,” he continued. “Throughout the quarter, we experienced an increase in demand for our homes evidenced by growing sales and backlog. This positive trend reflects the benefits of our strategic investments in expanding our retail footprint and capitalizing on the growing need for attainable housing in the market. As we continue to advance our strategic initiatives, expand our capabilities, and strengthen our value proposition, Champion Homes is ideally positioned to drive growth and deliver value to our shareholders for the foreseeable future.”

First Quarter Fiscal 2025 Results

Net sales for the first quarter fiscal 2025 increased 35.1% to $627.8 million compared to the prior-year period. The number of U.S. homes sold in the first quarter fiscal 2024 increased 35.7% to 6,538 driven by sales of $151.5 million from the Regional Homes acquisition and healthy demand in the community sales channel. The ASP per U.S. home sold increased 3.0% to $91,700 primarily due to the higher mix of retail units sold during the quarter. The number of Canadian factory-built homes sold in the quarter decreased to 167 homes compared to 221 homes in the prior-year period due to softening demand in certain markets.

Gross profit increased by 26.6% to $164.2 million in the first quarter fiscal 2025 compared to the prior-year period. Gross profit margin was 26.2% of net sales, a 170-basis point contraction compared to 27.9% in the first quarter fiscal 2024. Gross margin contraction reflects lower ASPs on wholesale new homes sold, a shift in product mix, the ramping of previously idle facilities and the impact of purchase accounting from the Regional Homes acquisition.

Selling, general, and administrative expenses (SG&A) in the first quarter fiscal 2025 increased to $108.8 million from $70.4 million in the same period last year. SG&A during the quarter increased due to the Regional Homes acquisition, including a charge of $7.9 million for the change in the fair value of the contingent consideration, as well as higher variable compensation. SG&A as a percentage of net sales was 17.3%, compared to 15.2% in the prior year period.

Net income decreased by 10.7% to $45.8 million for the first quarter fiscal 2025 compared to the prior-year period. The decrease in net income was driven by lower gross margin as a percentage of sales and higher SG&A expenses for the quarter.

Adjusted EBITDA for the first quarter fiscal 2025 increased by 12.2% to $75.0 million compared to the first quarter fiscal 2024. Adjusted EBITDA margin for the quarter was 11.9%, compared to 14.4% in the prior-year period.

As of June 29, 2024, Champion Homes had $548.9 million of cash and cash equivalents, an increase of $53.9 million in the current quarter. The company repurchased approximately 292,000 shares of its common stock during the quarter for approximately $20 million. On Aug. 1, 2024, the Board of Directors refreshed the amount of the share repurchase program back up to an aggregate amount of $100 million.

About Champion Homes, Inc.

Champion Homes, Inc. (NYSE: SKY) is a leading producer of factory-built housing in North America and employs approximately 8,800 people. With more than 70 years of homebuilding experience and 48 manufacturing facilities throughout the United States and western Canada, Champion Homes is well positioned with an innovative portfolio of manufactured and modular homes, ADUs, park-models and modular buildings for the single-family, multi-family, and hospitality sectors.

In addition to its core home building business, Champion Homes provides construction services to install and set-up factory-built homes, operates a factory-direct retail business with 72 retail locations across the United States, and operates Star Fleet Trucking, providing transportation services to the manufactured housing and other industries from several dispatch locations across the United States.

Champion Homes builds homes under some of the most well-known brand names in the factory-built housing industry including Skyline Homes, Champion Homes, Genesis Homes, Regional Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, Titan Homes in the U.S. and Moduline and SRI Homes in western Canada.

The post Skyline Champion Shares Name Change, Q1 Financial Report first appeared on RVBusiness - Breaking RV Industry News.

GOSHEN, Ind. – Easily recognizable with its striking matte green-colored full-body paint, Keystone RV has launched a special edition of its Cougar fifth-wheel in which proceeds of every sale will benefit the Wounded Warrior Project.

Known as the Hero Edition, the unit will make its public debut at America’s Largest RV Show in Hershey, Pa. Fittingly, the show’s opening day is Sept. 11. The Wounded Warrior Project was created following the terrorist attacks on Sept. 11, 2001.

Given the Hero Edition’s eye-catching exterior, it’s safe to say the unit will draw plenty of attention in Hershey. The color, which definitely has military vibe to it, has been dubbed Heroic Green and was produced in the manufacturer’s in-house paint facility in Wakarusa, Ind. The “Cougar” name and contemporary logo in raised lettering are the only exterior adornments which, paired with the matte green full-body paint, offers a subdued yet uniquely automotive-style design.

“We’ve been noticing trends in the market of people wanting less graphics, less swoopy, very simple, more automotive look,” said Keystone General Manager Matt Christensen, who credited Product Manager Scott Taylor with the matte green color, and from there came the concept of the Hero Edition in partnership with the Wounded Warrior Project.

Leveraging the “competitive advantage” of its paint facility and following the successful debut last year of the Cougar Midnight Edition, Christensen said the Heroic Green matte finish was something that Keystone really honed in on.

“We’ve just decided to have some fun the last couple of years, with all the things that have been going on in the market, to kind of flex our muscles with paint and bring paint to the market in a lower price point that is otherwise generally offered,” Christensen explained. “If you go to Tampa or you go to other shows, you generally only see full body paint on a higher-end Class A motor homes, or even really high end fifth-wheels – and a lot of times those paints aren’t even standard, it’s optional. So, we felt like this was a great opportunity for us to flex our muscles a little bit and use our paint facility.”

The concept started with the green color, black accents and bonded windows – slidetoppers also will be standard – and then it was “just letting the color itself speak for the outside of that unit,” Christensen said. “Then, as the unit came offline and we looked at it, we said, ‘Man, it’s got this military look to it.’ So, we felt that there could be an opportunity to do something with it.”

That opportunity quickly manifested in a partnership with the Wounded Warrior Project, a nonprofit charity and veterans service organization that offers a variety of programs, services and events for wounded veterans who incurred a physical or mental injury, illnesses or co-incident to their military service on or after Sept. 11, 2001.

Keystone will donate $1,000 from every retail sale of the Cougar Hero Edition, which is available on four of the full-size Cougar’s seven floorplans. Keystone’s total contribution will be no less than $250,000, and up to $1 million. Christensen noted, too, that each donation is coming out of Keystone’s bottom line and not just the company passing along the costs.

Each unit also will include a gift bag of Wounded Warrior Project items and other products to further commemorate the Hero Edition’s mission.

While the Hershey Show will be the Hero Edition’s public debut, prototypes have already been well-received by Keystone employees at a company-wide ice cream social and by Cougar owners at a recent rally in Shipshewana, Ind.

Taylor said he had “goosebumps” when both employees and Cougar owners flocked to the Hero Edition at each event, taking selfies and oohing and awing over the unit.

“Everybody was just cheering and saying, ‘Oh my gosh, that’s what this is for?” Taylor said. “And the Cougar owners were blown away. The response was phenomenal. And one of the newer customers to Cougar had the best comment ever; he said, ‘I was hoping I picked the right brand. Now, seeing this, I’m absolutely convinced that I picked the right brand and the right company.’”

“And then, as we’re talking,” Christensen added, “people were coming out of the woodwork and talking about they had a family member who served, and maybe passed, or about all of the lives that our military has touched within our community and our company. We got even more resound in getting this done. We all stepped away from it for a second and said, ‘This is just a great thing. It’s more than just selling trailers. This is great for our company, this is great for our community, this is great for our industry.”

The post Keystone Cougar Hero Edition to Support Wounded Warriors first appeared on RVBusiness - Breaking RV Industry News.

Brian Allred, former vice-president of sales and marketing for Ultra-Fab products passed away this morning (08/06/24).  Brian’s friends and especially his wife Tammie and his three children are mourning his unexpected passing.

“Allred played a major role in the growth of Ultra-Fab from the 1990s through 2022”, said Raymond Padgett, current VP of sales and marketing for Ultra-Fab.  “His decades of experience have been missed since his he left Ultra-Fab, but we have remained fast friends.  Obviously, I was shocked to hear the news.  Everyone at Ultra-Fab wishes the best for Tammie and the rest of his family”.

There will not be a typical funeral, but his wife will be arranging a Celebration of Life ceremony in a couple of months per Brian’s wishes.

The post Former Ultra-Fab Exec Brian Allred Passes Unexpectedly first appeared on RVBusiness - Breaking RV Industry News.

Brian Allred, former vice-president of sales and marketing for Ultra-Fab products passed away this morning (08/06/24).  Brian’s friends and especially his wife Tammie and his three children are mourning his unexpected passing.

“Allred played a major role in the growth of Ultra-Fab from the 1990s through 2022”, said Raymond Padgett, current VP of sales and marketing for Ultra-Fab.  “His decades of experience have been missed since his he left Ultra-Fab, but we have remained fast friends.  Obviously, I was shocked to hear the news.  Everyone at Ultra-Fab wishes the best for Tammie and the rest of his family”.

There will not be a typical funeral, but his wife will be arranging a Celebration of Life ceremony in a couple of months per Brian’s wishes.

The post Former Ultra-Fab Exec Brian Allred Passes Unexpectedly first appeared on RVBusiness - Breaking RV Industry News.

The “Camper Report Show” is a weekly feature of Camper Report, which is part of the RV LIFE family of RVing websites that provide RV forums, RV trip planning tools and mobile apps, and one of the largest campground databases around. Co-hosted by Bob Zagami and John DiPietro – RV industry veterans in their own right – the Camper Report Show has partnered with RVBusiness by providing RV industry insider information supplied exclusively by RVB.

This week, the program celebrates 10 years of RVing with Marc & Julie Bennett, the founders of RV Love. Learn all about their journey and resources they offer. DiPietro also spotlights Fireside RV Rental, a company offering RV rental services and many more resources for RVers. Learn how they can help you start your own RV rental, storage, repair shop, and more with their business programs.

Subscribe to Camper Report: https://bit.ly/CamperReportYT

The RVBusiness Featured Video is sponsored by Curt, a Lippert Brand.

The post ‘Camper Report’ Features RV Love, Fireside RV Rentals first appeared on RVBusiness - Breaking RV Industry News.

The “Camper Report Show” is a weekly feature of Camper Report, which is part of the RV LIFE family of RVing websites that provide RV forums, RV trip planning tools and mobile apps, and one of the largest campground databases around. Co-hosted by Bob Zagami and John DiPietro – RV industry veterans in their own right – the Camper Report Show has partnered with RVBusiness by providing RV industry insider information supplied exclusively by RVB.

This week, the program celebrates 10 years of RVing with Marc & Julie Bennett, the founders of RV Love. Learn all about their journey and resources they offer. DiPietro also spotlights Fireside RV Rental, a company offering RV rental services and many more resources for RVers. Learn how they can help you start your own RV rental, storage, repair shop, and more with their business programs.

Subscribe to Camper Report: https://bit.ly/CamperReportYT

The RVBusiness Featured Video is sponsored by Curt, a Lippert Brand.

The post ‘Camper Report’ Features RV Love, Fireside RV Rentals first appeared on RVBusiness - Breaking RV Industry News.

AL-KO Vehicle Technology and its subsidiary E&P Hydraulics present LevelVan: a hydraulic levelling support system for vans that allows significantly more payload thanks to its low weight.  

LevelVan from E&P is the first and only hydraulic levelling support system with a net weight of less than 50 kilograms specifically designed for vans. How is that possible? It’s all thanks to the use of carbon cylinders – a material that is hard to beat in terms of lightness. 

Increased payload 

The four hydraulic cylinders made of an innovative carbon-aluminum-steel mix level the van precisely, gently and quietly at the touch of a button. This groundbreaking mix of materials saves around 30 % in weight. Why is that so important? The maximum permitted gross weight for vans is usually between 3.3 and 3.5 tons. Only a few owners load their vehicle up to the limit, because it limits your speed to a consistent 100 km/h. You therefore lose one of the decisive advantages of a van – faster travelling speed. When you consider that an air conditioning system can weigh a good 30 kilos, every kilo saved in vehicle technology is an exceptionally valuable gain in travel quality.  

Light components, simple assembly 

The steady legs extend automatically in just a few minutes, levelling the vehicle into a horizontal position to ensure a firm stance. Two customized positions can be saved: Levelling position and tank-emptying position. Your workshop will also be pleased: LevelVan is easy to install thanks to a chassis-mounted pump unit (to maximize internal locker space), pre-crimped hoses and plug-and-play configuration: all fitting material delivered as part of the kit. Thanks to AL-KO’s unrivalled experience as an OEM chassis partner, you can also be sure the system integrates seamlessly with the base-vehicle putting minimal strain on the chassis. 

The AL-KO Vehicle Technology Group is a swiftly growing global technology group and a business unit of DexKo Global. With high-quality chassis and suspension components for trailers, leisure and commercial vehicles, and construction and agricultural vehicles, the group represents the best in functionality and comfort as well as innovations to ensure greater driving safety. Founded in 1931 the group today has around 3,500 employees at more than 40 locations worldwide. Find out more at www.alko-tech.com

DexKo Global Inc. is one of the world’s leading manufacturers of high-quality chassis technology, chassis assemblies, accessories and hydraulic brake components. DexKo Global was founded in 2016 through the merger of Dexter and AL-KO Vehicle Technology. Headquartered in Novi, Michigan/ USA, the company employs around 7,000 people in more than 100 production facilities and distribution centers. For more information, please go to www.dexko.com

The post AL-KO Intros Hydraulic Leveling Support System for Vans  first appeared on RVBusiness - Breaking RV Industry News.

AL-KO Vehicle Technology and its subsidiary E&P Hydraulics present LevelVan: a hydraulic levelling support system for vans that allows significantly more payload thanks to its low weight.  

LevelVan from E&P is the first and only hydraulic levelling support system with a net weight of less than 50 kilograms specifically designed for vans. How is that possible? It’s all thanks to the use of carbon cylinders – a material that is hard to beat in terms of lightness. 

Increased payload 

The four hydraulic cylinders made of an innovative carbon-aluminum-steel mix level the van precisely, gently and quietly at the touch of a button. This groundbreaking mix of materials saves around 30 % in weight. Why is that so important? The maximum permitted gross weight for vans is usually between 3.3 and 3.5 tons. Only a few owners load their vehicle up to the limit, because it limits your speed to a consistent 100 km/h. You therefore lose one of the decisive advantages of a van – faster travelling speed. When you consider that an air conditioning system can weigh a good 30 kilos, every kilo saved in vehicle technology is an exceptionally valuable gain in travel quality.  

Light components, simple assembly 

The steady legs extend automatically in just a few minutes, levelling the vehicle into a horizontal position to ensure a firm stance. Two customized positions can be saved: Levelling position and tank-emptying position. Your workshop will also be pleased: LevelVan is easy to install thanks to a chassis-mounted pump unit (to maximize internal locker space), pre-crimped hoses and plug-and-play configuration: all fitting material delivered as part of the kit. Thanks to AL-KO’s unrivalled experience as an OEM chassis partner, you can also be sure the system integrates seamlessly with the base-vehicle putting minimal strain on the chassis. 

The AL-KO Vehicle Technology Group is a swiftly growing global technology group and a business unit of DexKo Global. With high-quality chassis and suspension components for trailers, leisure and commercial vehicles, and construction and agricultural vehicles, the group represents the best in functionality and comfort as well as innovations to ensure greater driving safety. Founded in 1931 the group today has around 3,500 employees at more than 40 locations worldwide. Find out more at www.alko-tech.com

DexKo Global Inc. is one of the world’s leading manufacturers of high-quality chassis technology, chassis assemblies, accessories and hydraulic brake components. DexKo Global was founded in 2016 through the merger of Dexter and AL-KO Vehicle Technology. Headquartered in Novi, Michigan/ USA, the company employs around 7,000 people in more than 100 production facilities and distribution centers. For more information, please go to www.dexko.com

The post AL-KO Intros Hydraulic Leveling Support System for Vans  first appeared on RVBusiness - Breaking RV Industry News.

From General RV Center: The 2025 Nexus Wraith 33F is a luxurious, high-quality diesel motorhome for families or couples.

Among its features:

• 10,000-pound Towing Capacity: Easily tow almost any small toy, boat or vehicle to your campsite.
• Outdoor Entertainment Area: Hang out underneath the powered awning with LED strip lighting and turn on the massive mounted outdoor TV for entertainment.
• Opposing Slide Living Room: On the driver’s slide, you’ll have the option for theatre seating or for a tri-fold sofa that converts into a queen mattress. On the passenger-side slide, you can eat or work at the booth dinette, which can convert into an additional sleeping space. Campers will enjoy the 40” Smart TV wherever they choose to sit.
• Revamped Kitchen: The upgraded kitchen area features an extended power outlet system with two, 110-watt outlets and two USB ports, a butcher’s cabinet for more storage or prep space, and a double sink with solid surface sink covers for even more counter space when needed.
• His & Her Bedroom & Bathroom: Keep organized inside the bedroom by storing your clothes inside the his-and-her wardrobe. Inside the bathroom, there’s plenty of space to store your belongings for both travelers inside and along the L-shaped sink.

The RVBusiness Featured Video is sponsored by Curt, a Lippert Brand.

The post OEM Showcase: General RV Touts 2025 NeXus Wraith 33F first appeared on RVBusiness - Breaking RV Industry News.

JASPER, Ind. – Meyer Distributing Canada, Inc., a leader in automotive specialty products marketing and distribution, announces the addition of its Abbotsford, BC crossdock. The crossdock will have a direct feed from Meyer’s Hermiston, OR distribution hub, which houses one of the largest inventories of automotive accessories, crash and collision, 4×4/Off-Road, and RV & Trailer parts in the Northwest.

“Meyer is your source for RV, Towing, and Trailer parts in the Northwest including British Columbia and Alberta,” states Ben Johnson, Meyer’s RV, Towing, and Trailer Sales Manager. “We have a seasoned sales team ready to serve you and help your business close sales and grow.  Call our product specialists today at 800.222.3325!  French at 866.457.6225 and Spanish at 866.662.2776.”

“The Abbotsford, BC dock is an exciting expansion for Meyer,” stated Jeff Braun, CEO. “We are going to bring logistics to the table in British Columbia in a way that is going to save customers a lot of money.  We will be covering Vancouver Island to Surrey to Kelowna, and this will help bring a lower landed cost and better competition to the BC markets that haven’t had an effective alternative for a long time. Pay less, save more!”

The post Meyer Distributing Announces Crossdock in Abbotsford, BC first appeared on RVBusiness - Breaking RV Industry News.