Champion Homes did not provide specific financial guidance for upcoming quarters or the full year.
Retail sales growth - Co said increase in U.S. homes sold was driven primarily by higher sales from captive retail stores.
Higher material costs - Co said higher material costs were partially offset by modest sales growth and pricing benefits in company-owned retail.
Increased SG&A - SG&A expenses rose due to the inclusion of Iseman Homes and expanded retail footprint.
Key details and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Beat
$710.20 mln
$702.32 mln (6 Analysts)
Q1 EPS
Beat
$0.89
$0.87 (6 Analysts)
Q1 Net Income
Miss
$49.20 mln
$51.10 mln (5 Analysts)
Q1 Gross Margin
25.20%
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the homebuilding peer group is "buy".
Wall Street's median 12-month price target for Champion Homes Inc is $93.00, about 15.1% above its August 3 closing price of $80.83.
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 21 three months ago.
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