Champion Homes, Inc. (NYSE: SKY) has announced a significant increase of $50 million to its existing share repurchase program, bringing the total capacity of the program to $150 million. Tim Larson, the President and CEO of the company, expressed confidence in their strategy and highlighted their strong cash generation.
The company, which is a leading producer of factory-built housing in North America and employs approximately 9,000 people, has over 70 years of homebuilding experience and 46 manufacturing facilities throughout the United States and Western Canada.
In addition to the share repurchase program, Champion Homes provides construction services to install and set up factory-built homes, operates a factory-direct retail business with 72 retail locations across the United States, and runs Star Fleet Trucking, which provides transportation services to the manufactured housing and other industries from several dispatch locations across the United States.
The company builds homes under various well-known brand names in the factory-built housing industry, including Skyline Homes, Champion Homes, Genesis Homes, and others.
This increase in the share repurchase program demonstrates the company's commitment to delivering long-term shareholder value through a thoughtful approach to capital allocation. The press release did not provide specific financial metrics or comparisons to previous periods. As a result of these announcements, the company's shares have moved -0.05% on the market, and are now trading at a price of $65.515. For the full picture, make sure to review Champion Homes's 8-K report.
