Cavco Earnings Reports

Cavco delivered a solid Q4 with revenue growth of 21% and a boost in both GAAP and adjusted earnings, supported by a surge in home shipments and a strong March finish.

Cavco Industries reported a strong third quarter with net revenue up 16.8% to $522 million, driven by a 21.6% increase in home sales volume. The company's pre-tax profit improved significantly, and EPS rose by 62% to $6.90. Financial services saw a strong recovery, and factory-built housing production ramped up.

Cavco Industries reported strong second quarter results with a 12.3% increase in net revenue, driven by home sales volume growth. The company faced challenges in its financial services segment due to weather-related claims, but overall profitability remained solid. They also announced a new $100 million stock repurchase program.

Cavco Industries reported a slight increase in net revenue, driven by home sales volume growth, but was negatively impacted by unusually high insurance claims from weather events and wildfires, leading to a decrease in net income per diluted share.

Cavco Industries reported a decrease in net revenue and net income for the fourth quarter of fiscal year 2024. Net revenue was $420 million and net income was $34 million. The company faced challenges with lower sales volume in the factory-built housing segment, but saw improvements in order rates as the quarter progressed.

Cavco Industries reported a decrease in net revenue and net income for the third quarter of fiscal year 2024, with net revenue at $447 million, down 10.8% year-over-year, and net income per diluted share at $4.27, compared to $6.66 in the prior year. Despite the declines, orders written this quarter were the highest in the last six quarters, and the company announced a new $100 million stock repurchase program.

Cavco Industries reported a decrease in net revenue and net income for the second quarter of fiscal year 2024. Net revenue was $452 million, a 21.7% decrease compared to the prior year. Net income per diluted share was $4.76, compared to $8.25 in the prior year quarter.

Cavco Industries reported a decrease in net revenue to $476 million, a 19% decrease compared to the previous year. Net income per diluted share was $5.29, down from $6.63 in the prior year quarter. Backlogs decreased to $177 million. The company announced a new $100 million stock repurchase program.

Cavco Industries announced its Q4 and FY 2023 results. The company reported net revenue of $476 million and net income of $47 million for the quarter. The acquisition of Solitaire Homes contributed $28 million to net revenue, although it also resulted in a pre-tax loss of $0.8 million due to purchase accounting adjustments. Despite economic challenges, the company saw its thirteenth straight year of revenue and earnings growth.

Cavco Industries reported a 16.0% increase in net revenue to $501 million for the third quarter of fiscal year 2023, compared to $432 million in the prior year. Income before income taxes increased by 29% to $76 million. Net income per diluted share was $6.66, compared to $8.57 in the prior year, which included a favorable benefit from energy efficient home tax credits. Backlogs decreased to $427 million. The company also completed the acquisition of Solitaire Homes subsequent to the quarter end.

Cavco Industries reported a strong second quarter in fiscal year 2023, with net revenue increasing by 60.6% to $577 million and net income attributable to Cavco common stockholders increasing by 97.1% to $74 million. The company's gross profit margin also improved, and it commenced operations at a new park model manufacturing facility. The company also signed a binding agreement to acquire Solitaire Homes, Inc.

Cavco Industries reported record-breaking net revenue of $588 million and net income of $60 million for the first quarter of fiscal year 2023. The company's factory utilization increased to over 85%, and backlogs reached $1.0 billion. Cavco also completed the acquisition of a manufacturing facility in Hamlet, North Carolina.

Cavco Industries announced financial results for the fourth quarter and fiscal year ended April 2, 2022. The company reported record-breaking net revenue of $505 million and net income of $54 million for the quarter. Earnings per diluted share was $5.80, compared to $2.71 in the prior year's fourth quarter.

Cavco Industries reported record third quarter results for fiscal year 2022, with net revenue reaching $432 million and net income at $80 million. The results were positively impacted by a $29.9 million net benefit from estimated non-recurring tax credits. Factory utilization improved to approximately 80%, and backlogs remained high at $1.1 billion.

Cavco Industries reported record net revenue of $360 million and net income of $38 million for the second fiscal quarter ended October 2, 2021. The company's gross profit as a percentage of net revenue increased to 25.0%, with factory-built housing gross profit at 24.1%. Earnings per diluted share was $4.06, and backlogs reached $1.1 billion.

Cavco Industries reported record first quarter fiscal 2022 results, with net revenue of $330.42 million and net income of $27.05 million. The company experienced strong home order rates and executed strategic acquisitions and stock repurchases.

Cavco Industries reported a 5.5% increase in net revenue to $288.8 million for the third quarter of fiscal year 2021. Net income decreased by 5.7% to $19.7 million, with diluted net income per share at $2.12. The factory-built housing segment saw revenue increase, offset by lower home sales volume, while the financial services segment also experienced revenue growth.

Cavco Industries reported a decrease in net revenue and net income for the second quarter of fiscal year 2021, primarily due to production inefficiencies related to COVID-19 and higher weather-related claims in the financial services segment. However, sales order activity improved, leading to a significant increase in order backlogs.

Cavco Industries reported a decrease in net revenue by 3.5% and net income by 21.6% for the first quarter of fiscal year 2021. The decline was primarily due to lower home sales volume in the factory-built housing segment, impacted by COVID-19 related production inefficiencies. Increased order volume, supported by reduced home loan interest rates, raised order backlogs by 20%.

Cavco Industries reported a 5.9% increase in net revenue for Q4 2020, reaching $255.3 million. However, net income decreased by 40.0% to $12.0 million, with diluted net income per share at $1.29. The results were impacted by COVID-19 challenges and losses in the financial services segment.

Cavco Industries reported a strong third quarter for fiscal year 2020, with a 17.1% increase in net revenue to $273.7 million and a 56.0% increase in net income to $20.9 million. The company benefited from improved home sales volume, the acquisition of Destiny Homes, and strong consumer demand.