Cavco Industries Stock Price, News & Analysis

Cavco Industries (Nasdaq: CVCO) has released its 2024 Environmental, Social and Governance Report, highlighting the company's commitment to affordable housing solutions, environmental sustainability, and transparent governance practices. The report showcases Cavco's strategic initiatives, including:

- Company growth and design innovations
- Safety data and community engagement efforts
- Environmental programs like the Glendale Solar Power Initiative
- Adoption of the Sustainability Accounting Standards Board (SASB) reporting framework

CEO Bill Boor emphasized Cavco's 60-year role in providing affordable homes and its dedication to advancing the manufactured housing industry. The report reflects Cavco's core values and steps taken to foster market growth, operational excellence, team member success, and governance improvements.

Cavco Industries (Nasdaq: CVCO) announces significant changes to HUD's Manufactured Home Construction and Safety Standards, marking the most extensive update in over 30 years. The new HUD Code includes nearly 90 new and updated standards, with a key focus on approving duplex, triplex, and quadplex manufactured homes for nationwide construction. This move aims to address the affordable housing crisis by enabling more creative housing solutions.

As an industry leader, Cavco was the first to build HUD-approved true duplexes, including single and double-section models. The company's innovative Anthem series of duplex homes is expected to benefit from reduced build times, wider availability, and increased design flexibility. Cavco's President and CEO, Bill Boor, expressed excitement about the new possibilities for expanding affordable housing across the nation.

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.