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Mar 29
Cavco Q4 2025 Earnings Report
Cavco reported higher Q4 revenue and income, driven by increased factory-built housing sales despite weather challenges and rebranding costs.
Key Takeaways
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
Cavco
Cavco Revenue by Segment
Forward Guidance
Cavco is optimistic about growth opportunities following its brand consolidation and improved national positioning, though external headwinds remain.
Positive Outlook
- Brand unification expected to improve marketing efficiency.
- Solid March momentum indicating stronger demand.
- High backlog of $197M provides revenue visibility.
- Maintained production levels despite weather impacts.
- Additional $150M share repurchase approved by board.
Challenges Ahead
- Q4 impacted by severe weather across southern states.
- Decreased revenue in financial services due to lower loan sales.
- Selling expenses increased from one-time rebranding charges.
- Lower average selling prices affected revenue per home.
- Gross margin slightly declined year-over-year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income