Cavco Industries, Inc. (NASDAQ:CVCO) Q4 2020 Results Conference Call May 27, 2020 8:00 AM ET Company Participants Mark Fusler - Director of Financial Reporting and Investor Relations Bill Boor - President and Chief Executive Officer Dan Urness - Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Daniel Moore - CJS Securities Chris Sansone - Sansone Advisors Ian Lapey - Gabelli Funds Greg Palm - Craig-Hallum Capital Operator Ladies and gentlemen, thank you for stan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Non-accelerated Filer ☐ Smaller Reporting Company ☐ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 28, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-08822 CAVCO INDUSTRIES INC. (Exact name of registrant as specified in its charter) ( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 28, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-08822 CAVCO INDUSTRIES INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporat ...

Cavco Industries, Inc. (NASDAQ:CVCO) Q3 2020 Earnings Conference Call January 31, 2020 1:00 PM ET Company Participants Mark Fusler - Director of Financial Reporting and Investor Relations Bill Boor - President and Chief Executive Officer Dan Urness - Executive Vice President and Chief Financial Officer Josh Barsetti - Chief Accounting Officer Conference Call Participants Stefanos Crist - CJS Securities Greg Palm - Craig-Hallum Capital Operator Ladies and gentlemen, thank you for standing by, and welcome to ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 28, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-08822 CAVCO INDUSTRIES INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpora ...

Cavco Industries, Inc. (NASDAQ:CVCO) Q2 2020 Earnings Conference Call October 29, 2019 1:00 PM ET Company Participants Mark Fusler - Investor Relations William Boor - President and Chief Executive Officer Daniel Urness - Executive Vice President and Chief Financial Officer Joshua Barsetti - Chief Accounting Officer Conference Call Participants Daniel Moore - CJS Securities, Inc. Greg Palm - Craig-Hallum Capital Group LLC Operator Ladies and gentlemen, thank you for standing by, and welcome to Cavco Industri ...

Cavco Industries, Inc. (NASDAQ:CVCO) Q1 2020 Earnings Conference Call July 30, 2019 1:00 PM ET Company Participants Mark Fusler - Investor Relations Bill Boor - President and Chief Executive Officer Dan Urness - Executive Vice President and Chief Financial Officer Josh Barsetti - Chief Accounting Officer Conference Call Participants Daniel Moore - CJS Securities Greg Palm - Craig-Hallum Capital Group Operator Hello and welcome to Cavco Industries First Quarter Fiscal Year 2020. [Operator Instructions] I wou ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 29, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-08822 CAVCO INDUSTRIES INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 30, 2019 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-08822 Cavco Industries, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or org ...

Financial Data and Key Metrics Changes - Net revenue for Q4 fiscal 2019 was $241 million, down 0.6% from $243 million in Q4 fiscal 2018 [18] - Consolidated gross profit margin increased to 23.1% from 22.4% year-over-year, driven by higher home prices and declining material input costs [20] - Net income for Q4 fiscal 2019 was $20 million, compared to $22.1 million in the same quarter of the prior year, with diluted earnings per share at $2.17 versus $2.40 [23] Business Line Data and Key Metrics Changes - In the factory-built housing segment, net revenue decreased approximately $3 million to $225 million from $228 million in the prior year, influenced by the absence of FEMA-related sales and early loan payoffs [18][19] - The financial services segment showed strong performance, contributing positively to gross margins due to lower claims volume and favorable weather conditions [20][27] Market Data and Key Metrics Changes - The overall backlog at the end of March was $129 million, down from $179 million a year earlier, equating to approximately 7 weeks of production [50] - Order rates have shown regional variability, with some areas experiencing drops due to high retailer inventories and weather challenges, but underlying demand remains strong [15][16] Company Strategy and Development Direction - The company aims to continue its focus on decentralization and cost efficiency while exploring opportunities in financial services and potential acquisitions to address the affordable housing shortage [29] - Management is optimistic about improving access to financing for manufactured homes, with ongoing efforts to engage with GSE programs [44][45] Management's Comments on Operating Environment and Future Outlook - Management noted that interest rates are attractive and there is a growing recognition of the value of manufactured homes, which is expected to positively impact the industry [12][13] - The company believes that current order rate fluctuations are temporary and that strong underlying demand will support future growth [16][17] Other Important Information - The effective income tax rate for Q4 was 23.4%, down from 27.9% in the prior year, reflecting the full impact of the Tax Act [23] - Selling, general, and administrative expenses increased to 13.1% of net revenue, primarily due to additional D&O insurance costs and expenses related to the internal investigation [21] Q&A Session Summary Question: Can you elaborate on retail traffic and order rates post-quarter? - Management indicated that retail operations are seeing good traffic and increased deposits and conversions compared to last year, despite concerns about order rates influenced by inventory issues [32] Question: How sustainable is the recent gross margin improvement? - Management attributed the margin improvement to effective pricing strategies and declining raw material costs, particularly lumber, while acknowledging ongoing labor cost pressures [33][35] Question: What are the trends in financial services claims? - The financial services segment performed well in Q4, but management will monitor claims closely during the spring storm season, which could introduce unpredictability [37] Question: What is the outlook for industry demand and growth rates? - Management expressed cautious optimism for positive growth in the industry, particularly when excluding FEMA-related sales from the previous year [43] Question: Any updates on the SEC investigation? - Management stated there are no new developments regarding the SEC investigation and is focused on supporting the process [65][66]