Champion Homes, Inc.

being recorded. I will now turn the call over to your host, Jason Blair, to begin. Jason, please go ahead.

Good morning. Thank you for taking the time to join us for today's conference call and review of our business results for the fourth quarter and full year ended March 29, 2025. Here to review our results are Tim Larson, Champion Homes President and Chief Executive Officer, and Lori Huff, Executive Vice President, Chief Financial Officer, and Treasurer. Earlier this morning, we issued our earnings release. As a reminder, the earnings release and statements made during today's call include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from the company's expectations. Such risks and uncertainties include the factors set forth in the earnings release and in the company's filings with the Securities and Exchange Commission. Please note that today's remarks contain non-GAAP financial measures which we believe can be useful in evaluating performance. Definitions and reconciliations of these measures can be found in the earnings release. I will now turn the call over to Champion Homes CEO, Tim Larson.

Thank you, Jason, and good morning, everyone. On behalf of the Champion team, I'm proud to report that in fiscal 2025, we provided over 26,000 homes to customers and families across the U.S. and Canada. This represents a 19% increase in homes sold year over year, and revenue growth of 23%, resulting in fiscal year 2025 sales of 2.5 billion. Unit volume increase was driven by higher demand across all channels, including from the regional homes acquisition from the entirety of the fiscal year. Performance was driven by an unwavering focus on our customers and executing our strategic priorities. We are investing in new products and services for our channel partners and expanding our retail capabilities, including today announcing an acquisition of Eisman Homes which I will discuss further in a moment. We were very active in the marketplace during the quarter and had a tremendous reception to our new products at the International Builder Show, where we showcased models laser-focused on providing builders with relevant and affordable turnkey homes. In March, we had a great response to our Biloxi Show product lineup, reflecting the strength of the Champion Homes family of brands. More recently, we were able to engage with leadership from the Department of Housing and Urban Development, We are encouraged by the dialogue and the positive feedback we received during their recent visits. We are impressed by U.S. HUD Secretary Scott Turner's commitment to making homeownership more attainable. I appreciate the time we spent touring our homes and his willingness to learn how we can further expand manufactured housing to address the affordability needs across the country. The recent spotlight in Congress to reaffirm HUD's role as the sole regulator and removing the requirement that manufactured homes be on a permanent chassis are all steps in the right direction. And when combined with zoning reform, will reduce barriers to further grow the market for offsite built homes. A market that we are investing in for growth, as reflected in our strategic priorities and capital allocation, that are all aligned to deliver sustained value across all stakeholders. Given the current overall market uncertainty, we are focused on remaining nimble, while thoughtfully advancing our strategy. And that was very evident in the fourth quarter of fiscal 25. team continue to execute on the fundamentals and deliver profitable growth by navigating an unpredictable environment with tariffs and inflation looming throughout the quarter. Fourth quarter, year-over-year net sales increased 11% to $594 million, and homes sold during the period increased 6% to a total of 6,171 units. We experienced normal seasonality in the fourth quarter with a sequential decrease in revenue compared to the third quarter, and orders increased as we progressed through the quarter and our backlog at the end of the year was 343 million. Backlogs were up 9% from the end of last year and up 10% sequentially. Average backlog lead time ended the quarter at eight weeks, which is within our target range of four to 12 weeks. I'll provide some additional commentary from the quarter on each of our sales channels. Sales to our independent retail channel and through our captive retail stores both increased versus the prior year period. For independent retailers, We continue to advance our digital technology and lead management platform, including the phase launch of a dealer portal, which was receiving great reviews from the early adopters. Consistent with our strategy to expand our captive retail presence, we announced today an agreement to acquire Eisen Homes located in the Plains region of the US. We will use the strength of our in-house retail and our new Eisen Home team to drive growth in this region. I'll touch more on Eisen in a bit. Moving to the community channel, We remain focused on supporting our community partners by providing timely and relevant products at the right value. Through these efforts, sales in our community channel increased versus the prior year. Our builder-developer pipeline remains strong as we continue to grow the network. The projects are in various stages and are being paced somewhat by the market uncertainty. However, we are continuing to invest in this channel and believe over the long term, off-site build homes will become a more widely adopted approach for builders and land developers. Campion Financing, our joint venture with Triad Financial Services, continues to perform well. Our retail loan programs, when combined with the right home, provide today's consumers with their optimal monthly payment. Our floor plan programs allow us to support growth with our retailers by ensuring they have the right products for each market. We appreciate the collaboration with the ECM Capital and Triad teams and partners. Looking to our first fiscal quarter of 2016, As we thoughtfully navigate the market and consumer uncertainty, we anticipate QN revenue to be up low single digits compared to the same period last year. As we begin fiscal 2026, demand has been less predictable compared to a normal spring selling season. In addition, we are seeing a shift in consumer trends to smaller floor plans with fewer features and options. The near-term outlook to the community channel varies as we hear mixed views depending on the operator's geography and expansion pace. Despite the uncertain environment, we remain confident and focused on executing our strategy and leading and managing the variables within our control while remaining nimble in the market. We're actively managing within the dynamic tariff environment and are executing our playbook as developments unfold. But so far, the direct cost impact has been limited, although we do believe it is affecting consumer sentiment. Our strategy includes a balanced approach of selective price adjustments and material sourcing changes to optimally mitigate the impact. We are also being proactive and agile as we navigate the environment, including taking actions to thoughtfully control our fixed costs while not losing sight of our need to invest in our strategies for the long term. We recently idled one of our production locations in the Florida market by leveraging our remaining nearby facilities for customers in that region. Permitting and demand in Florida has been slow to recover from the 2024 hurricanes. In addition, in the British Columbia region, we are consolidating two of our Canadian factories into one, to improve operating efficiencies and reduce overhead costs. From a growth perspective, as I mentioned earlier, we announced the signing of a definitive agreement to acquire Eisman Homes, including its 10 retail sales centers in the Plains region of the US. This acquisition underscores our long-term strategy to expand our retail footprint and deliver market-relevant products, all while elevating the home buying experience for our customers. With annualized revenues of approximately $40 million, we see a pipeline of local market demand and synergistic opportunities. Champion Homes team is very excited to welcome Eisman Homes, and we look forward to their integration with our Champion family of brands. We expect the transaction to close by the end of our first fiscal quarter. In summary, we believe Champion Homes is well-positioned to weather the uncertain market environment while driving an unwavering focus on our long-term strategic growth priorities and day-to-day execution that are directly centered on our customers and teams. I'll now turn the call over to Lori, who will discuss our quarterly financial performance in more detail.