Why Skyline Champion Shares Are Diving Today
Portfolio Pulse from Nabaparna Bhattacharya
Skyline Champion Corporation (NYSE:SKY) reported 4Q FY23 sales of $491.53 million, missing the consensus estimate of $528.22 million, and a 23% YoY decrease. Earnings per share decreased 33.8% to $1.00, beating the analyst consensus of $0.93. The number of U.S. homes sold in 4Q decreased 25.5% to 4,900 YoY. SKY shares are trading lower by 10.38% to $57.82.
May 30, 2023 | 3:38 pm
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NEGATIVE IMPACT
Skyline Champion's 4Q FY23 sales missed estimates and decreased 23% YoY. Earnings per share beat analyst consensus, but shares are trading lower by 10.38%.
Skyline Champion's 4Q sales missed estimates and decreased 23% YoY, which indicates a negative performance for the company. This, combined with a decrease in the number of U.S. homes sold and lower sales, has led to a drop in the stock price. The earnings per share beat analyst consensus, but the overall negative performance outweighs this positive aspect, resulting in a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100