Thursday, May 23, 2019

Why Shares of Skyline Champion Soared on Wednesday

Shares of Skyline Champion (NYSE:SKY) climbed 13.9% on Wednesday, after the manufacturer of modular homes reported quarterly results that suggest the company is performing well following a major acquisition last year.

On Tuesday after the markets closed, Skyline Champion reported fiscal fourth-quarter earnings of $0.26 per share on revenue of $327.7 million, beating the $0.20-per-share consensus earnings estimate despite falling short of the $344.22 million in expected sales. The company was created last June through a merger between Skyline and Champion Enterprises, which created the nation's largest publicly traded factory-built-housing company.

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