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.
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