Champion Homes reported its fourth-quarter and full-year financial results for fiscal 2025, highlighting double-digit growth in net sales and a significant increase in net income, driven by improved product mix and growing demand in the U.S. and Canada.
For the fourth quarter ended March 29, net sales rose 10.7% year-over-year to $593.9 million, while U.S. homes sold increased by 5.1% to 5,941 units.
The company also reported an 8.8% rise in backlog compared to March 2024 and a 9.9% increase from the prior quarter, totaling $343.4 million.
The average selling price per U.S. home sold rose 5.0% to $94,300, which the company attributed to a higher share of sales from its company-owned retail centers.
Canadian factory-built home sales also increased from 189 to 230 units.
Gross profit for the quarter climbed 55.0% to $152.5 million, while gross margin expanded to 25.7%—up 740 basis points from the previous year.
The company noted that the fourth quarter of fiscal 2024 included a $34.5 million product liability reserve.
Excluding that reserve, adjusted gross profit rose 14.7% year-over-year, with a 90-basis point gain in margin, reflecting improved retail-driven revenue.
Selling, general, and administrative expenses also increased to $110.3 million, compared to $90.6 million in the same period last year.
Net income for the fourth quarter grew by $33.6 million to $36.3 million, supported by stronger sales and gross profit.
In addition, earnings per diluted share increased by $0.58 to $0.63.
Adjusted EBITDA for the fourth quarter declined slightly by 1.1% to $52.6 million, while the adjusted EBITDA margin contracted by 110 basis points to 8.9%.
“Champion delivered strong results across our family of brands and key business drivers in fiscal 2025,” Tim Larson, president and chief executive officer, said in a press release.
For the full fiscal year, net sales grew 22.7% to $2.5 billion. Net income rose $51.7 million to $198.4 million.
“Our performance was driven by an unwavering focus on our customers and executing our strategy across all channels – reflecting the tenacity of the Champion team,” Larson added.