Welcome to our dedicated page for Cavco Industries news (Ticker: CVCO), a resource for investors and traders seeking the latest updates and insights on Cavco Industries stock.
Cavco Industries (CVCO) delivers innovative factory-built housing solutions through manufactured homes, modular construction, and specialized financial services. This news hub provides investors and industry observers with essential updates about the company's operations, market position, and strategic developments.
Find curated press releases and verified news covering earnings announcements, product innovations, leadership changes, and partnership agreements. Our collection focuses on material developments in Cavco's core housing segment and its financial subsidiaries, including mortgage services and insurance operations.
Key coverage areas include regulatory updates affecting manufactured housing, production capacity expansions, and strategic initiatives in the recreational housing market. Bookmark this page for direct access to primary source materials and analysis-free reporting about one of America's leading HUD code home producers.
Cavco Industries (NASDAQ: CVCO) reported its fiscal 2025 Q1 results, showing mixed performance. Net revenue increased slightly by 0.4% to $478 million, driven by higher home sales volume. The factory-built housing segment saw improvements with a 20% sequential increase in home sales volume and capacity utilization rising to 65%. However, the financial services segment experienced a significant setback due to high insurance claims from weather events in Texas and wildfires in New Mexico.
Key financial highlights include:
- Gross profit margin decreased to 21.7% from 24.8% year-over-year
- Income before taxes fell 27.9% to $44 million
- Diluted EPS decreased to $4.11 from $5.29
- Backlogs grew 21.4% to $232 million
Despite challenges in the insurance operations, Cavco's CEO Bill Boor noted continued market improvement and opportunities in homeownership.
Cavco Industries, Inc. (Nasdaq: CVCO) has announced its fiscal 2025 first quarter earnings release and conference call webcast schedule. The company will release earnings for the quarter ended June 29, 2024, on Thursday, August 1, 2024, after market close. Senior management will discuss the results in a live webcast on Friday, August 2, 2024, at 1:00 p.m. Eastern Time.
Investors can access the webcast via the company's investor relations website or register for telephone participation. The call will be available for replay on the website for 90 days. Cavco Industries is a leading producer of factory-built housing, including manufactured and modular homes, park model RVs, vacation cabins, and commercial structures in the United States.
Cavco Industries (Nasdaq: CVCO) announced its fiscal 2024 fourth quarter and year-end results. Quarterly net revenue was $420 million, with net income of $34 million. Gross profit as a percentage of net revenue was 23.6%, down from 25.3% last year. Annual net revenue decreased by 16.2% to $1,795 million, and net income per diluted share dropped from $26.95 to $18.37. However, backlogs increased by 19.4% compared to three months ago. The company repurchased approximately $110 million in shares. Despite economic challenges, Cavco expanded its capacity and retail footprint and introduced the HUD-approved Anthem series. CEO Bill Boor emphasized the company's commitment to providing affordable housing.
Cavco Industries (Nasdaq: CVCO) will release its fiscal 2024 fourth-quarter and year-end earnings on May 23, 2024, post-market close.
Senior management will discuss the results in a live webcast on May 24, 2024, at 1:00 p.m. Eastern Time. Interested parties can access the webcast via the investor website or register for the telephone call.
Cavco, headquartered in Phoenix, designs and produces factory-built housing products distributed through independent and company-owned retailers. They are one of the largest U.S. manufacturers of manufactured and modular homes. Their products are marketed under several brand names, and they are also a leading producer of park model RVs and factory-built commercial structures. Cavco's finance subsidiary, CountryPlace Mortgage, offers various mortgage options, while their insurance subsidiary, Standard Casualty, provides property and casualty insurance for manufactured home owners.
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