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SKY Skyline Champion

Skyline Champion Corporation was formed on June 1, 2018 as the result of the combination of Skyline Corporation ('Skyline') and the operating assets of Champion Enterprises Holdings, LLC ('Champion'). The combined company employs approximately 6,700 people and is the largest independent, publicly traded, factory-built housing company in North America. With almost 70 years of homebuilding experience and 38 manufacturing facilities throughout the United States and western Canada, Skyline Champion is well positioned with a leading portfolio of manufactured and modular homes, ADUs, park-models and modular buildings for the single-family, multi-family, hospitality, senior and workforce housing sectors. In addition to its core home building business, Skyline Champion operates a factory-direct retail business, Titan Factory Direct, with 18 retail locations spanning the southern United States, and Star Fleet Trucking, providing transportation services to the manufactured housing and other industries from several dispatch locations across the United States. Skyline Champion builds homes under some of the most well known brand names in the factory-built housing industry including Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, Shore Park, Silvercrest, Titan Homes in the U.S., and Moduline and SRI Homes in western Canada.

Company profile

Ticker
SKY
Exchange
CEO
Mark Jason Yost
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
SKYLINE CORP
SEC CIK
IRS number
351038277

SKY stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

2 Feb 21
12 Apr 21
28 Mar 22
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Mar 20 Mar 19 May 17 May 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
6 Apr 21 Anderson Keith A Common Stock Sell Dispose S No Yes 47.52 22,286 1.06M 445,776
5 Apr 21 Anderson Keith A Common Stock Sell Dispose S No Yes 47.36 26,810 1.27M 468,062
5 Apr 21 Anderson Keith A Common Stock Sell Dispose S No Yes 46.78 78,956 3.69M 494,872
17 Mar 21 Hough Laurie M. Common Stock Sell Dispose S No No 45.01 11,922 536.61K 149,545
11 Mar 21 Yost Mark J. Common Stock Sell Dispose S No No 45.31 47,274 2.14M 352,043
11 Mar 21 Yost Mark J. Common Stock Sell Dispose S No No 46.17 23,147 1.07M 399,317
5 Mar 21 Mak Capital One Common Stock Sell Dispose S Yes No 43.91 132,099 5.8M 3,000,000
4 Mar 21 Mak Capital One Common Stock Sell Dispose S Yes No 43.44 145,681 6.33M 3,132,099
3 Mar 21 Mak Capital One Common Stock Sell Dispose S Yes No 44.42 90,779 4.03M 3,277,780
4 Jan 21 Timothy A. Burkhardt Common Stock Grant Aquire A No No 0 2,804 0 37,364

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

96.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 168 165 +1.8%
Opened positions 23 24 -4.2%
Closed positions 20 11 +81.8%
Increased positions 61 40 +52.5%
Reduced positions 62 81 -23.5%
13F shares
Current Prev Q Change
Total value 2.1B 5.29B -60.3%
Total shares 54.71M 54.13M +1.1%
Total puts 11.9K 86.4K -86.2%
Total calls 93.7K 156.6K -40.2%
Total put/call ratio 0.1 0.6 -77.0%
Largest owners
Shares Value Change
Wellington Management 7.81M $241.65M -1.4%
BLK Blackrock 4.24M $131.25M +1.7%
Mak Capital One 3.37M $104.22M 0.0%
Wasatch Advisors 3.02M $93.55M +26.6%
Vanguard 3M $92.76M -0.1%
TROW T. Rowe Price 2.37M $73.31M +0.5%
AMP Ameriprise Financial 2.18M $67.58M -5.1%
GW&K Investment Management 1.45M $44.79M +4.2%
American Century Companies 1.38M $42.59M +37.6%
Ranger Investment Management 1.34M $41.36M -12.2%
Largest transactions
Shares Bought/sold Change
FMR 739.29K -1.12M -60.1%
Westfield Capital Management 0 -674.41K EXIT
Wasatch Advisors 3.02M +635.82K +26.6%
Cramer Rosenthal MCGLYNN 1.18M +475.59K +67.4%
JHG Janus Henderson 860.21K +399.63K +86.8%
American Century Companies 1.38M +376.45K +37.6%
Summit Partners Public Asset Management 895.39K +326.6K +57.4%
Intrinsic Edge Capital Management 266.5K +266.5K NEW
William Blair Investment Management 1.29M +240.62K +23.0%
Highland Capital Management Fund Advisors 0 -193.98K EXIT

Financial report summary

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Risks
  • The COVID-19 pandemic has had, and is expected to continue to have, significant adverse effects on our financial condition, results of operations, cash flows, and business.
  • The factory-built housing industry is cyclical, is affected by seasonality and is sensitive to changes in general economic or other business conditions.
  • We are subject to demand fluctuations in the housing industry. Reductions in demand could adversely affect our business, results of operations, and financial condition.
  • Future increases in interest rates, more stringent credit standards, tightening of financing terms, or other increases in the effective costs of owning a factory-built home (including those related to regulation or other government actions) could limit the purchasing power of our potential customers and could adversely affect our business and financial results.
  • The availability of wholesale financing for retailers is limited due to a limited number of floor plan lenders and reduced lending limits.
  • We have contingent repurchase obligations related to wholesale financing provided to industry retailers.
  • If we are unable to establish or maintain relationships with independent distributors that sell our homes, our sales could decline and our results of operations and cash flows could suffer.
  • Prices of certain materials can fluctuate and availability of certain materials may be limited at times, adversely affecting our business.
  • For some of the components used in production, we depend on a small group of suppliers, the loss of any of which could adversely affect our ability to obtain components in a timely manner or at competitive prices, which would in turn decrease our sales and profit margins. Some components are sourced from foreign sources. Delays in obtaining these components or the imposition of new or additional tariffs could result in increased costs and decreased sales and profit margins.
  • Our results of operations can be adversely affected by labor shortages and turnover.
  • Industry conditions and future operating results could limit our sources of capital. If we are unable to locate suitable sources of capital when needed, we may be unable to maintain or expand our business.
  • Factory-built housing operates in the highly competitive housing industry, and, if other home builders are more successful or offer better value to our customers, then our business could decline.
  • When we introduce new products into the marketplace, we may incur expenses that we did not anticipate, which, in turn, can result in reduced earnings.
  • Our products and services may experience quality problems from time to time that can result in decreased sales and gross margin and can harm our reputation.
  • We may not be able to manage our business effectively if we cannot retain current management team members or if we are unable to attract and motivate key personnel.
  • Product liability claims and litigation and warranty claims that arise in the ordinary course of business may be costly, which could adversely affect our results of operations.
  • We are subject to extensive regulation affecting the production and sale of factory-built housing, which could adversely affect our business, financial condition, and results of operations.
  • Increases in the after-tax costs of owning a factory-built home could deter potential customers from buying our products and adversely affect our business or results of operations.
  • The transportation industry is subject to government regulation, and regulatory changes could have a material adverse effect on our results of operations or financial condition.
  • Natural disasters and severe weather conditions could delay deliveries, increase costs, and decrease demand for new factory-built homes in affected areas.
  • Mergers and acquisitions in which we might engage involve risks that could adversely affect our business.
  • Changes in foreign exchange rates could adversely affect the value of our investments in Canada and cause foreign exchange losses.
  • Our failure to maintain effective internal control over financial reporting could harm our business and financial results.
  • We anticipate paying no cash dividends for the foreseeable future.
  • Our risk management practices may leave us exposed to unidentified or unanticipated risk.
  • Unregistered Sales of Equity Securities
  • Issuer Purchases of Securities
Management Discussion
  • ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • Certain statements set forth below under this caption constitute forward-looking statements. See Part I, “Cautionary Statement About Forward-Looking Statements,” of this Annual Report on Form 10-K for additional factors relating to such statements, and see Item 1A, “Risk Factors,” of this Annual Report for a discussion of certain risks applicable to our business, financial condition, results of operations and cash flows.
  • Champion Enterprises Holding, LLC (“Champion Holdings”) was formed as a Delaware limited liability company in 2010. Skyline Corporation (“Skyline”) was originally incorporated in Indiana. On June 1, 2018, Skyline Champion Corporation (the “Company”) was formed by Skyline and Champion Holdings combining their operations pursuant to the Exchange Agreement.
Content analysis
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