Skyline Champion Corp. Q2 Profit Decreases, but beats estimates

(RTTNews) - Skyline Champion Corp. (SKY) released earnings for second quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $45.7 million, or $0.79 per share. This compares with $144.1 million, or $2.51 per share, in last year's second quarter.

Excluding items, Skyline Champion Corp. reported adjusted earnings of $47.2 million or $0.82 per share for the period.

Analysts on average had expected the company to earn $0.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 42.5% to $464.2 million from $806.8 million last year.

Skyline Champion Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $45.7 Mln. vs. $144.1 Mln. last year. -EPS (Q2): $0.79 vs. $2.51 last year. -Analyst Estimates: $0.79 -Revenue (Q2): $464.2 Mln vs. $806.8 Mln last year.