Manufactured Home News: Skyline Champion Stock Shows Strength — NFL Star Invests in Modular Home Builder — Home Stolen from Clayton Sales Center
Skyline Champion Stock Shows Relative Strength in Weak Housing Market — Recently (9-30-21), Investors Business Daily recognized homebuilder Skyline Champion (SKY) as the stock of the day, as record-high housing costs spur sales of more moderately priced homes.
The Troy, Michigan-based company’s 40+ manufacturing facilities throughout the U.S. and western Canada produce a wide variety of manufactured and modular homes.
Skyline’s modular buildings serve the single-family, hospitality, senior, and workforce housing sectors. The bulk of its revenue in recent years comes from U.S. factory-built housing, with a smaller focus on RVs.
“Our homebuilding demand is even more accelerated because of new financing solutions we’ve seen come to bear for our products and services, as well as just the affordable price report nature of our homes,” said CEO Mark Yost at a September 9 RBC Global Industries Conference.
Skyline Champion Earnings
Skyline earnings shot up 241% in its fiscal Q3 a year earlier. Sales popped 87% to $510 million.
U.S. factory-built homes sold increased 58% to 6,372. Total backlog increased by more than 500% to $1.2 billion as of July 3, 2021, vs. $192.1 million as of June 27, 2020.
Skyline homes average selling prices jumped 16.2% to $71,800 due to increases in response to rising materials costs, the company said in a statement. Meanwhile, Skyline’s gross profit margin expanded 210-basis points to 22%.
NFL Star Invests in Boise Modular Affordable Housing Manufacturer — A factory-built housing company owned by defensive end Ndamukong Suh of the 2021 Super Bowl champion Tampa Bay Buccaneers has invested in an Idaho affordable home manufacturer.
Suh is president of Portland-based HMS Development, which along with Bastogne Development partners of Pennsylvania, invested $5.8 million in IndieDwell, headquartered in Boise, Idaho.
“We believe that attainable living is a crucial step in both individual and communal growth, which is why we are so proud to partner with IndieDwell to offer turnkey development and construction solutions to communities across the country,” Suh, HMS Development’s president, said in a news release. Source: Idaho Statesman
Harrisonburg, Va. Police Department Investigates Stolen Manufactured Home — The Harrisonburg, Virginia Police Department says it is currently investigating the theft of a manufactured home from Clayton Homes located in the 3800 block of South Main Street.
HPD says on October 3, 2021, at approximately 7:00 a.m. an unknown offender connected a truck to a 14’x60’ manufactured home equipped for transport and drove off the property. (Surveillance cameras at the scene recorded the theft).
The offender’s vehicle was last seen pulling the manufactured home southbound on Route 11. The suspect vehicle is described as a white four-door flatbed truck with amber-colored running lights above the cab.
Subsequently, Harrison police said the truck and mobile (sic) home were seen south of Lynchburg in Campbell County at the intersection of Route 501 and Long Island Road. The truck was seen briefly in that area and then continued south along Route 501, police said.
The stolen home is described as having a clay-colored vinyl exterior with white trim and black shingles. Sources: WHY 3 and Staunton News Leader.