Core Insights - Cavco Industries, Inc. reported significant financial improvements in the third fiscal quarter ended December 28, 2024, driven by increased home shipments and a recovery in financial services [3][5][6] Financial Performance - Net revenue reached $522 million, an increase of $75 million or 16.8% compared to $447 million in the same quarter last year, primarily due to growth in home sales volume [5][20] - Home sales volume increased by 21.6%, with capacity utilization rising to approximately 75% from about 60% in the prior year [5][20] - Gross profit for factory-built housing as a percentage of net revenue was 23.6%, up from 22.4% in the prior year [5][11] - Financial services gross profit as a percentage of net revenue surged to 55.5%, compared to 36.8% in the previous year [5][11] Income and Earnings - Income before income taxes was $69.3 million, reflecting a 57.9% increase from $43.9 million in the prior year [5][20] - Net income attributable to Cavco common stockholders was $56.5 million, up 56.9% from $36 million in the same quarter last year [5][20] - Diluted net income per share increased to $6.90, a 62% rise compared to $4.27 in the prior year quarter [5][20] Operational Highlights - Backlogs totaled $224 million at the end of the quarter, representing 6-8 weeks of production [5] - Stock repurchases amounted to approximately $42 million during the quarter [5] Segment Performance - The factory-built housing segment saw net revenue of $500.9 million, up 17.3% from $426.9 million in the prior year [4][5] - Financial services segment net revenue increased to $21.2 million, a 6.8% rise from $19.8 million in the previous year [4][5] - The increase in financial services revenue was attributed to higher insurance premiums [7][11] Cost and Expenses - Selling, general and administrative expenses rose to $66 million, a 4.2% increase compared to the previous year [8][20] - The effective tax rate was 18.6%, influenced by higher-than-expected production of Energy Star homes [5][20]

Core Viewpoint - Cavco Industries, Inc. is set to release its third-quarter earnings for the period ending December 28, 2024, on January 30, 2025, with a live discussion scheduled for January 31, 2025 [1]. Company Overview - Cavco Industries, Inc. is headquartered in Phoenix, Arizona, and specializes in designing and producing factory-built housing products, primarily distributed through a network of independent and company-owned retailers [3]. - The company is recognized as one of the largest producers of manufactured and modular homes in the United States, based on reported wholesale shipments [3]. - Cavco's product offerings include various brand names such as Cavco, Fleetwood, Palm Harbor, and others, along with park model RVs, vacation cabins, and factory-built commercial structures [3]. - The finance subsidiary, CountryPlace Mortgage, is an approved seller/servicer for Fannie Mae and Freddie Mac, providing a range of mortgage products for factory-built home purchasers [3]. - The insurance subsidiary, Standard Casualty, offers property and casualty insurance specifically for owners of manufactured homes [3].

Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Cavco (CVCO) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Cavco is one of 88 companies in the Construction group. The Construction group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 ...

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it.The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock alive.Our " ...

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, 2024 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) Delaware 56-2405642 (State or other juri ...

Cavco Industries, Inc. (NASDAQ:CVCO) Q3 2024 Earnings Call Transcript November 1, 2024 1:00 PM ET Company Participants Mark Fusler - Corporate Controller and IR Bill Boor - President and CEO Allison Aden - EVP and CFO Paul Bigbee - CAO Conference Call Participants Daniel Moore - Daniel Moore Greg Palm - Craig-Hallum Capital Group Jay McCanless - Wedbush Daniel Moore - CJS Securities Operator Good day, and thank you for standing by. Welcome to the Second Quarter Fiscal Year 2025 Cavco Industries, Inc. Earnin ...

Cavco (CVCO) came out with quarterly earnings of $5.28 per share, beating the Zacks Consensus Estimate of $4.70 per share. This compares to earnings of $4.76 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.34%. A quarter ago, it was expected that this homebuilder would post earnings of $4.97 per share when it actually produced earnings of $4.11, delivering a surprise of -17.30%.Over the last four quarters, the company has s ...

PHOENIX, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Cavco Industries, Inc. (Nasdaq: CVCO) ("we," "our," the "Company" or "Cavco") today announced financial results for the second fiscal quarter ended September 28, 2024. Quarterly Highlights Net revenue was $507 million, up $55 million or 12.3% compared to $452 million in the second quarter of the prior year, primarily on home sales volume growth.Home sales volume is up 15.7% and capacity utilization is up to approximately 70% from approximately 60% in the second qua ...

PHOENIX, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Cavco Industries, Inc. (Nasdaq: CVCO) will release earnings for the second quarter ended September 28, 2024 on Thursday, October 31, 2024 after the close of market. Senior management will discuss the results in a live webcast the following day, Friday, November 1, 2024 at 1:00 p.m. Eastern Time. Date:   November 1, 2024 Time:   1:00 p.m. ET            Listen via Internet: https://investor.cavco.com/ Listen via Telephone: To participate in the call, please register ...

Plano, TX, Oct. 22, 2024 (GLOBE NEWSWIRE) -- For additional information, contact:Mark FuslerCorporate Controller and Investor Relationsinvestor_relations@cavco.comNews ReleasePhone: 602-256-6263On the Internet: www.cavcohomes.com FOR IMMEDIATE RELEASE CAVCO INDUSTRIES RELEASES 2024 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT Cavco Industries unveils its 2024 Environmental, Social and Governance Report, emphasizing its dedication to affordable housing solutions, environmental sustainability and transparent g ...