Core Viewpoint - Cavco Industries, Inc. reported strong financial results for the second fiscal quarter ended September 27, 2025, with significant growth in net revenue and net income, alongside the successful acquisition of American Homestar Corporation and the addition of Lisa Daniels to the Board of Directors [1][3][4]. Financial Performance - Net revenue for the quarter was $556.5 million, an increase of $49 million or 9.7% compared to $507.5 million in the same quarter of the previous year, driven by higher home sales volume and average selling price per home [5][19]. - Net income for the quarter was $52.4 million, up 19.6% from $43.8 million in the prior year, with diluted net income per share increasing by 24.1% to $6.55 from $5.28 [9][20]. - The factory-built housing segment saw a gross profit margin of 22.9%, consistent with the same period last year, while the financial services segment's gross profit margin increased significantly to 55.6% from 21.8% [5][12]. Operational Highlights - Factory-built modules sold increased by 7.1% to 8,699 units, and factory-built homes sold rose by 5.4% to 5,178 units [5][6]. - Backlogs at the end of the quarter totaled $210 million, representing approximately 5-7 weeks of production [5]. - The company executed stock repurchases totaling approximately $36 million during the quarter, with $142 million remaining available for future repurchases [5]. Segment Performance - In the factory-built housing segment, net revenue increased due to higher home sales volume and an increase in net revenue per home sold [7][12]. - The financial services segment's net revenue grew due to higher insurance premiums, reflecting improved underwriting and lower claims losses compared to prior periods [12]. Management Commentary - The CEO highlighted the strong performance across all business segments and expressed gratitude for the commitment of the American Homestar team during the acquisition integration [3][4]. - The addition of Lisa Daniels to the Board of Directors was noted as a positive development for the company, bringing valuable experience and a good personal fit [4].

Core Viewpoint - Cavco Industries, Inc. is set to release its earnings for the fourth quarter and fiscal year ending March 29, 2025, on May 22, 2025, with a subsequent live discussion scheduled for May 23, 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 also leads in the production of 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, and a Ginnie Mae mortgage-backed securities issuer, offering various mortgage products [3]. - The insurance subsidiary, Standard Casualty, provides property and casualty insurance to owners of manufactured homes [3].