STOCK TITAN

Cavco Industries Inc - CVCO STOCK NEWS

Welcome to our dedicated news page for Cavco Industries (Ticker: CVCO), a resource for investors and traders seeking the latest updates and insights on Cavco Industries.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Cavco Industries's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Cavco Industries's position in the market.

Rhea-AI Summary
Cavco Industries, Inc. (CVCO) receives a Best Practice award for its Master of Craft program, highlighting its commitment to employee training and development. The company's innovative approach to nurturing talent and enhancing workforce skills places it among the top 105 training organizations globally, showcasing its dedication to skill growth and career advancement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.83%
Tags
none
-
Rhea-AI Summary
Cavco Industries, Inc. (CVCO) successfully reaches a revised collective bargaining agreement with Pennwest TCC and The International Association of Machinists, leading to employees returning to work at the Emlenton, Pennsylvania manufacturing plant.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.41%
Tags
none
-
Rhea-AI Summary
Cavco Industries, Inc. (CVCO) announces the expiration of a collective bargaining agreement with Pennwest TCC, leading to a strike by Union employees at its Emlenton, PA manufacturing plant. The Company aims to resume negotiations promptly for a fair contract.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.75%
Tags
none
Rhea-AI Summary
Cavco Industries, Inc. (CVCO) launches Homes for Our Own program to help employees purchase their first homes. The self-funded program involves employee donations matched by Cavco, aiding in underwriting purchasing costs for graduates. CEO Bill Boor aims to address the affordable housing crisis and support employees' long-term success. Metrics show impressive results with 86 employees donating, 31 completing the curriculum, and 2 purchasing homes within nine months.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.1%
Tags
none
-
Rhea-AI Summary
Cavco Industries, Inc. (Nasdaq: CVCO) has appointed Seth Schuknecht as the company’s Executive Vice President, General Counsel, Corporate Secretary, and Chief Compliance Officer effective February 13, 2024. Mr. Schuknecht brings a strong background in securities law, corporate governance, mergers and acquisitions, regulatory compliance, risk management, and complex commercial transactions. He was previously Senior Vice President and Deputy General Counsel at Hagerty, Inc., a publicly traded global specialty vehicle insurance company. The current General Counsel, Mickey R. Dragash, has decided to leave after 5 years with the company, and Mr. Schuknecht's appointment is seen as a strategic move to continue the company's growth and focus on providing affordable housing solutions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary
Cavco Industries, Inc. (Nasdaq: CVCO) announced financial results for the third fiscal quarter ended December 30, 2023. Net revenue was $447 million, down 10.8% compared to the prior year. Gross profit percentages decreased for both factory-built housing and financial services. Income before income taxes decreased by 42.1%. Net income per diluted share attributable to Cavco common stockholders was $4.27, compared to $6.66 in the prior year quarter. Backlogs totaled $160 million, with modules in backlog growing 3% from the September quarter. Stock repurchases were approximately $50 million in the quarter.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.75%
Tags
buyback earnings
Rhea-AI Summary
Cavco Industries, Inc. (Nasdaq: CVCO) will release earnings for the third quarter ended December 30, 2023, on Thursday, February 1, 2024, after the close of the market. Senior management will discuss the results in a live webcast the following day, Friday, February 2, 2024, at 1:00 p.m. Eastern Time. Cavco Industries, Inc., headquartered in Phoenix, Arizona, is one of the largest producers of manufactured and modular homes in the United States, with products marketed under various brand names. The company also produces park model RVs, vacation cabins, and factory-built commercial structures. Cavco's finance subsidiary, CountryPlace Mortgage, offers conforming mortgages, non-conforming mortgages, and home-only loans to purchasers of factory-built homes. The insurance subsidiary, Standard Casualty, provides property and casualty insurance to owners of manufactured homes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.63%
Tags
earnings
-
Rhea-AI Summary
Cavco Industries, Inc. (CVCO) introduces the Anthem, the first nationally available, HUD-approved manufactured duplex, offering affordable housing solutions and investment opportunities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.7%
Tags
none
-
Rhea-AI Summary
Cavco Industries, Inc. reported financial results for the second fiscal quarter ended September 30, 2023. Net revenue was $452 million, down 21.7% compared to the same quarter last year. Factory-built housing gross profit was 23.2%, and financial services gross profit was 35.9%. Income before income taxes was $52 million, down 44.1% from the prior year. Net income per diluted share was $4.76. Backlogs decreased to $170 million. $47 million was returned to shareholders through stock repurchases.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.65%
Tags
earnings
Rhea-AI Summary
Cavco Industries, Inc. will release earnings for Q2 2023 on November 2, 2023. Senior management will discuss the results in a live webcast on November 3, 2023. Cavco is one of the largest producers of manufactured and modular homes in the US.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.6%
Tags
earnings
Cavco Industries Inc

Nasdaq:CVCO

CVCO Rankings

CVCO Stock Data

3.27B
7.90M
5.29%
97.59%
2.99%
Manufactured Home (Mobile Home) Manufacturing
Manufacturing
Link
United States
Phoenix

About CVCO

cavco industries, inc., headquartered in phoenix, arizona, designs and produces factory-built housing products primarily distributed through a network of independent and company-owned retailers. we are the second largest producer of hud code manufactured homes in the united states, based on reported wholesale shipments, marketed under a variety of brand names including cavco homes, fleetwood homes and palm harbor homes. the company is also a leading producer of park model rvs, vacation cabins, and systems-built commercial structures; as well as modular homes built primarily under the nationwide homes brand. our mortgage subsidiary, countryplace, is an approved fannie mae and ginnie mae seller/servicer and offers conforming mortgages to purchasers of factory-built and site-built homes. our insurance subsidiary, standard, provides property and casualty insurance for owners of manufactured homes.