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Champion Homes (SKY) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Nov 4, 2026 · Champion Homes (SKY) Q2 FY27 earnings results →

Q2 FY27 Revenue up 6% year over year to $727M · 7¢ of every $1 of revenue kept as net profit · operating margin 9.0%

Champion Homes made $727M in Q2 FY27 (+6% Y/Y): Manufacturing $430M, Retail $286M, Transportation and Other $11.0M. Operating margin 9.0%, net earnings $52.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$727M
Year over year+6%
Operating margin9.0%
Net earnings$52.7M
Operating cash flow$43.0M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $727.0M in Q2 FY27, up 6% year over year and up 2% from the previous quarter. Manufacturing was the largest line at 59% of revenue. Retail added $30.2M year over year (up 12%), 71% of the total change.

Gross margin was 25.5%, down 1.9 points from Q2 FY26. Operating profit was $65.8M, a 9.0% margin (down 1.9 points year over year). Operating profit fell $9.0M even though revenue rose $42.6M versus Q2 FY26, so costs grew faster than sales. Operating expenses grew 6% against revenue growth of 6%. Net earnings were $52.7M, down 10% year over year. The effective tax rate was 24.3%.

Operating cash flow was $43.0M (down 43% year over year), 78% of net income including minority interests. Non-cash charges added back $12.5M of depreciation and amortization and $4.2M of share-based compensation. Working capital and other items used $28.9M. Capital expenditures of $12.1M left free cash flow of $30.8M.

Quarterly history

Champion Homes revenue by quarterChampion Homes revenue by quarter$594MQ4 FY25$701MQ1 FY26$684MQ2 FY26$657MQ3 FY26$621MQ4 FY26$710MQ1 FY27$727MQ2 FY27
Champion Homes net earnings by quarterChampion Homes net earnings by quarter$36.3MQ4 FY25$64.7MQ1 FY26$58.2MQ2 FY26$54.3MQ3 FY26$29.7MQ4 FY26$49.2MQ1 FY27$52.7MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QNov 4, 2026$727M+6%9.0%$52.7M$43.0M
Q1 FY2710-QAug 5, 2026$710M+1%8.5%$49.2M$72.5M
Q4 FY2610-KMay 26, 2026$621M+5%5.8%$29.7M$52.7M
Q3 FY2610-QFeb 4, 2026$657M+2%9.5%$54.3M$100M
Q2 FY2610-QNov 5, 2025$684M+11%10.9%$58.2M$75.9M
Q1 FY2610-QAug 6, 2025$701M+12%11.2%$64.7M$75.3M
Q4 FY2510-KMay 27, 2025$594M+11%7.1%$36.3M$46.0M

Charts

Champion Homes: revenue growth, year over year and quarter over quarterChampion Homes: revenue growth, year over year and quarter over quarterY/YQ/Q+11%Q4 FY25+12%+18%Q1 FY26+11%-2%Q2 FY26+2%-4%Q3 FY26+5%-5%Q4 FY26+1%+14%Q1 FY27+6%+2%Q2 FY27
Latest (Q2 FY27): Y/Y +6%, Q/Q +2%.
Champion Homes: where the cash came from (+) and went (−), TTM to Q2 FY27Champion Homes: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$268MBuybacks−$200MOther investing$136MCash drawn (+) / kept (−)−$84.0MAcquisitions−$56.6MCapital spending−$38.2MPartners−$11.1MTaxes on employees’ shares−$6.5MNet borrowing (+) / repaid (−)−$4.3MExchange rates−$2.7MOther financing−$2.7MShares issued$1.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Champion Homes: profit against cash, quarter by quarterChampion Homes: profit against cash, quarter by quarterNet incomeOperating cash flow$62.8M$50.4MQ3 FY25$37.7M$46.0MQ4 FY25$66.0M$75.3MQ1 FY26$60.1M$75.9MQ2 FY26$56.0M$100MQ3 FY26$32.1M$52.7MQ4 FY26$50.5M$72.5MQ1 FY27$55.1M$43.0MQ2 FY27
Latest (Q2 FY27): Net income $55.1M, Operating cash flow $43.0M.
Champion Homes: diluted shares by fiscal yearChampion Homes: diluted shares by fiscal year57MFY2157MFY2257MFY2358MFY2458MFY2557MFY26
-0.8% since FY21: buybacks shrank the count.
Champion Homes in its industry: growth against margin (4 companies, SIC 2451)Champion Homes in its industry: growth against margin (4 companies, SIC 2451)revenue growth, year over year →↑ operating marginmedian +18%median 17%CVCOLEGHNOBHSKY (+6%, 9%)
Mobile Homes; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Champion Homes

Champion Homes, Inc. (NYSE: SKY) is a leading producer of factory-built housing in North America and employs approximately 9,200 people. With more than 70 years of homebuilding experience and 46 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 95 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.

In its own words, from its 8-K, filed Aug 4, 2026.

Champion Homes against its Mobile Homes peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +18%. Operating margin: 9.0% against the peers' median 17.4%.

CompanyQuarterRevenueY/YOp. margin
SKY Champion HomesQ2 FY27$727M+6%9.0%
CVCO Cavco IndustriesQ2 FY27$656M+18%10.6%
LEGH Legacy HousingQ3 2026$69.7M+72%33.6%
NOBH Nobility HomesQ3 FY26$12.1M+1%17.4%

Source: Champion Homes 10-Q on SEC EDGAR · CIK 90896 · Mobile Homes

Guidance and outlook

Champion Homes: what its forward-looking statements are about (10-Q filed 2026-11-04)Champion Homes: what its forward-looking statements are about (10-Q filed 2026-11-04)Deals1Supply chain1
2 statements; tone +0.50 (−1 all cautious, +1 all confident); 0 hedged.
Champion Homes: outlook statements against the filing beforeChampion Homes: outlook statements against the filing beforeConfident1

13F: who owns SKY and who is buying

Largest holders of SKY (13F)Largest holders of SKY (13F)BlackRock$794MVanguard Group$487MVanguard Portfolio Management LLC$291MWellington Management Group LLP$283MState Street$260MWasatch Advisors LP$226MVanguard Capital Management LLC$219MDimensional Fund Advisors LP$156MGeode Capital Management, LLC$125MGoldman Sachs Group$121M
Funds' net buying of SKY by quarter (13F)Funds' net buying of SKY by quarter (13F)−$3.0M2024-09$33.7M2024-12$33.3M2025-03−$97.7M2025-06$157M2025-09$3.4M2025-12−$204M2026-03$88.8M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SKY

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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