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Skyline Champion Soared, What’s Up? Initial Look Behind the Curtain

May 24th, 2019 Comments off

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The Motley Fool is an investment site that has reportedly drawn the ire of industry leaders such as Joe Stegmayer, former president and chairman of Cavco Industries and still MHI Chairman, on more than one occasion. Indeed, such stock and financial news sites, including Seeking Alpha, are often a mixed bag of useful and problematic reports – in part because those writing their analysis may get financials or certain details correct, but may still lack the manufactured home industry specific insights that could make their reporting better.

 

Rephrased, as with our sources we track, MHProNews takes a ‘wheat and chaff’ approach to their narratives.

With that brief backdrop meant for our growing audience, the Daily Business News on MHProNews turns to a report Wednesday by the Fool’s Lou Whiteman, who disclosed that he “has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.” MHProNews uses a similar disclosure.

As MHProNews has customarily done for years, we often turn quoted text bold and brown to make it pop, but the quotes are otherwise as in the original.

 Whiteman said in the report found at this link here that, “Another strong earnings report provides evidence the company’s 2018 acquisition is paying dividends.”

That should be understood in the light of the graphic below, which reflects the 1 year trend on Skyline Champion’s (SKY) stock’s value.

SkylineChampionStock5232019TickerManufacturedHousingIndustryMHProNews

 

That noted, before diving into the specifics of Whiteman’s analysis of the SKY stock’s recent moves, in the wake of an upbeat report, let’s focus on this pull quote.

Consistent with our [The Motley Fool’s] previous comments, we remain positive on the outlook for manufactured housing industry, as we see significant runway for continued growth. Industry volumes remain well below the long-term averages, and new financing options are becoming available and are slowly helping close the gap with those historic trends.”

That’s a point that most HUD Code manufactured home industry professionals can agree with, and take some heart in.

BloombergShipmentProductionDataManufacturedHousingMHProNews2019-05-16_1057

But that too must be understood in the light of significant evidence of market manipulation, which is arguably at the heart of why Skyline Champion – or most any other manufactured housing firm – are underperforming.  One of several possible examples a newcomer can begin to research is linked below.

 

 

The following graphic is a composite from the firm’s website.

 

SkylineChampionByTheNumbersSKYmanufacturedhousingDailyBusinessNewsMHproNews

 

That said, back to Whiteman’s narrative. The bullets represent quotes under the subheadings from the Motley Fool.

What happened

  • Shares of Skyline Champion (NYSE:SKY) climbed 13.9% on Wednesday, after the manufacturer of modular homes reported quarterly results that suggest the company is performing well following a major acquisition last year.

So what

 

  • On Tuesday after the markets closed, Skyline Champion reported fiscal fourth-quarter earnings of $0.26 per share on revenue of $327.7 million, beating the $0.20-per-share consensus earnings estimate despite falling short of the $344.22 million in expected sales. The company was created last June through a merger between Skyline and Champion Enterprises, which created the nation’s largest publicly traded factory-built-housing company.
  • Net sales in the quarter grew 23% year over year, and U.S. sales led the way with 35% growth. Skyline Champion reported both a 15% increase in total number of U.S. transactions and a 17% increase in average selling price, as a result of strong demand and favorable product mix. In Canada, sales fell 17% because of a decline in homes sold.
  • This is Skyline Champion’s second straight quarterly beat.

Now what

 

  • CEO Keith Anderson, on a post-earnings call with investors, said the manufactured-housing market in recent years has grown faster than the broader housing industry. He added that the company expects growth to continue into the new fiscal year:

  • Skyline Champion ended the quarter with a backlog of $143 million, down slightly from $155 million a year prior, but the company says the current total is higher quality because it doesn’t include inflated orders for lower-margin Federal Emergency Management Agency residences.
  • Based on the stock reaction, investors seem to believe Skyline Champion is building on a solid foundation.

##

To reiterate in a different way, investors in stocks like SKY ought to demand investigation followed by action about purported market manipulation.  The Fool is right in saying there is plenty of upside, but it could be achieved faster and with hefty returns, in the absence of concerns such as those linked herein and below.  That’s not only the expert view here, but by others in the industry, as the reports further below reflect.

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP or Comments or Letter to Editor in the subject line.

 

Special Skyline Champion Report Ahead

MHProNews plans a special report on Skyline Champion in the days ahead. Watch for it. For a prior and other related reports, see below the byline, offers, and notices.

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

That’s this morning’s second look at “News through the lens of manufactured homes, and factory-built housing” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP or Comments or Letter to Editor in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

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To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Related Reports:

You can click on the image/text boxes to learn more about that topic.

“Lead, Follow … Or Get Out of The Way”

“Monopoly” in Manufactured Housing Alleged by George Allen, MHI Defender’s Turn by former Community-Investor, Self-Claimed EducateMHC Blogger

Kobayashi Maru, Crime, Kevin Clayton, Darren Krolewski, MHInsider – State of Manufactured Housing Industry

 

 

 

 

Skyline Announces Q1 2017 Results

October 15th, 2016 Comments off
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Image collage and text by MHProNews, individual image credits are those of Skyline Homes, and are used here under fair use guidelines.

Skyline Corporation (NYSE:SKY), one of the larger and oldest independent producers of HUD Code manufactured homes, announced its results for Quarter 1 2017 this week.

The company reported net sales from continuing operations of $61,176,000, states their official report. That includes an increase of approximately 26% over net sales of $48,742,000 from continuing operations over the same quarter one year ago.

Additionally, they reported income from continuing operations of $744,000, as compared to a loss of $895,000 from continuing operations in the first quarter of fiscal 2016 – over a $1.5-million-dollar positive swing.

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Skyline Homes produces park model, modular homes and manufactured homes that are built to the federally preemptive standards of the HUD Code for manufactured housing. This stands in stark contrast to the mobile homes of yesteryear, to learn more, click here.

Skyline reported no income or loss from discontinued operations as compared to income of $61,000 from discontinued operations in the first quarter of fiscal 2016, and net income of $744,000 or $0.09 per share as compared to a net loss of $834,000 or $0.10 per share in the first quarter of fiscal 2016.

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A park model home by Skyline Homes. Park models are being used by some retailers and producers to target the ‘tiny house’ movement. These homes – depending on their size and configuration – may be built to the ANSI or HUD Code, so have advantages over tiny houses, which may be built to no code at all.

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Photo collage by MHProNews, original Rich Florea photo credit, LinkedIn. Skyline logo is their intellectual property, and is used here under fair use guidelines.

Our continued focus on growing sales and improving margins through disciplined operations generated favorable year-over-year results in the quarter,” commented President and Chief Executive Officer, Richard Florea.

While we are pleased with the progress we are making, we are committed to capitalizing on the opportunities we have.

Seeking Alpha and others have tracked their results, as has the Daily Business News.  MHProNews manufactured housing market report readers are already aware from our Daily Business News coverage that Skyline’s activity has yielded a 278% stock price increase YTD and the company’s stock price hitting a 52-week high.

That performance has drawn positive interest from hedge funds and private equity investors, see the links above.

SkylineCorpModularHome-postedDailyBusinessNews-MHProNews

Skyline modular home, photo credit Skyline.  As factory-built housing industry professionals know, modular homes are built to state or local conventional housing building codes. A report contrasting modular and manufactured homes is linked here.

Skyline is one of the industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews.  For yesterday’s closing numbers on all MH industry-connected tracked stocks, please click here. ##

(Editor’s Note: for our interview with Skyline’s Terry Decio, please click here.)

Skyline’s recent report – as a downloadable resource:

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News, MHProNews.

Why are Equities Impressed by Skyline Homes?

October 11th, 2016 Comments off
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Credits: Wikipedia, Binary Options, Equites.com

Skyline Corporation (NYSE:SKY) has seen its stock price on the rise recently, hitting a 52-week high of $12.72 last month. Daily Business News readers will recall that we covered the rise of Skyline’s stock in a recent story, here.

According to a story from equities, Skyline’s stock is up 278 percent, year to date.

Shares of Skyline have more than tripled from the $3.50-$4.50 per share range. The company has an average daily volume of 31,395 shares.

Skyline has a market capitalization of $114.37 million and a 52-week range between $2.37 and $13.89 per share.

skyline-homes-park-model-tiny-house-postedManufacturedHousingIndustryDailyBusinessNewsMHProNews

A park model home by Skyline Homes.

Equities also notes that in August, Skyline reported its financial results for the fourth quarter and fiscal year that ended May 31, 2016. Net sales from continuing operations for the fourth quarter were $56,651,000, an increase of 14 percent over net sales of $49,605,000 from the same quarter last year.

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Skyline 1 year view. Credit: Bloomberg.

Net income for the fourth quarter was $1,326,000 or $0.16 per share, compared to a net loss of $200,000 or $0.02 per share in the final quarter of fiscal 2015.

Net sales from continuing operations for fiscal 2016 were $211,774,000, an increase of 13 percent over net sales of $186,985,000 the year before. Net income for fiscal 2016 was $1,678,000 or $0.20 per share, compared to a net loss of $10,414,000 or $1.24 per share in fiscal 2015.

We are pleased that our progress in the product development and our overall operational improvements have translated to increased revenue and profits for the fourth quarter and the fiscal year,” Skyline President and Chief Executive Officer Richard Florea said in a statement.

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Skyline Homes logo, kitchen and CEO’s photo, credits – Skyline Homes.

The recent opening of our manufacturing facility in Elkhart, Indiana reflects the increased demand we are seeing for quality-built, value-laden products.

The next Skyline earnings call is scheduled for October 20th.

As previously reported by the Daily Business News, current SKY stakeholders include:

Skyline designs, produces and markets manufactured and modular housing models, as well as park models in the U.S. and Canada.  The company has been in the business since 1951. Another recent market report on Skyline is linked here. ##

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News, MHProNews.