By Sabela Ojea
Shares of Champion Homes on Wednesday climbed a day after the company logged higher-than-expected sales in its fiscal third quarter amid higher home sales.
The stock was up 11% to $102.67 in midday trading. Shares have jumped 34% over the past 12 months.
The mobile and modular home manufacturing company posted a net profit for the three months ended Dec. 28 of $61.5 million, or $1.06 a share, compared with $47 million, or 81 cents a share, for the same period a year earlier.
Sales rose 15% to $644.9 million, beating the $590.4 million expected by Wall Street, according to FactSet.
Homes sold rose 14% to 6,437 from the year-ago period, and increased from 6,357 in the second quarter. The average selling price per U.S. home sold also increased 2.8% to $94,900.
"As we respond to the evolving housing environment, we will continue to remain nimble and execute our differentiated strategy --including investing in technology and accelerating product innovation-- while delivering sustained value for all our stakeholders," Chief Executive Tim Larson said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 05, 2025 13:13 ET (18:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.