Champion Homes Inc. in Troy is adding $50 million to its existing share repurchase program, bringing the aggregate capacity of the program to $150 million.
“We remain confident in our strategy and we continue to deliver strong cash generation,” says Tim Larson, president and CEO of Champion Homes. “We remain committed to delivering long-term shareholder value through a thoughtful approach to capital allocation.”
Repurchases under the share repurchase program may be made through a variety of methods, including open market or privately negotiated purchases. The timing and amount of shares repurchased will depend on the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, and other factors.
Champion Homes says it’s not obligated to repurchase any specific amount of shares of common stock, and the share repurchase program may be suspended or terminated at any time.
Champion Homes is a leading producer of factory-built housing in North America and employs approximately 9,000 people. With more than 70 years of homebuilding experience and 46 manufacturing facilities throughout the United States and western Canada, Champion Homes offers manufactured and modular homes, ADUs, park-models, and modular buildings for the single-family, multi-family, and hospitality sectors.
In addition to its core home building business, 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 operates Star Fleet Trucking, providing transportation services to the manufactured housing and other industries from several dispatch locations across the United States.
