Skyline Champion Corporation Down 13.52% To $49.00 After Earnings Beat

Skyline Champion Corporation (SKY) said after close Tuesday that it earned $2.51 per share in quarter two 2023.

On the revenue line, the company reported $806.8 million, beating estimates by $119 million.

In the same quarter a year ago, the company earned $0.89 per share on revenue of $524.2 million.

The stock is down 13.52% to $49.00 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Skyline Champion Corporation has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 81, putting Skyline Champion Corporation in the top 25% of stocks. The firm set a 52-week low on June 16, 2022 at $43.04 and set a 52-week high on December 8, 2021 at $85.92.

Skyline Champion Corp is a factory-built housing company in North America. The company offers a portfolio of manufactured and modular homes, park model RVs, accessory dwelling units and modular buildings for the multi-family, hospitality, senior and workforce housing sectors. It designs and builds a range of manufactured and modular homes, park model RVs, ADUs, and commercial structures. It builds homes under brand names in the factory-built housing industry including Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes in the U.S., and Moduline and SRI Homes in western Canada.