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, Inc. (CVCO) has launched its first Environmental, Social, and Governance (ESG) website, reflecting its commitment to transparency and corporate responsibility. This initiative is part of its Affordable Homes Digital Marketplace and builds on the company's Corporate Responsibility Report established in 2021. The ESG site highlights Cavco's efforts in environmental stewardship, social responsibility, and corporate governance. The company aims to enhance the lives of homeowners and team members while maintaining high ethical standards. Further details on its policies and ESG commitments are available at cavcohomes.com/esg.
Cavco Industries (CVCO) reported financial results for the third fiscal quarter ended December 31, 2022, with net revenue rising to $501 million, a 16.0% increase from $432 million year-over-year. Income before income taxes surged 29% to $76 million. Gross profit as a percentage of net revenue was 26.4%. Net income per diluted share fell to $6.66 from $8.57, partly due to prior year tax credits. Backlogs decreased 34% sequentially to $427 million. The company repurchased $34 million in shares and completed the acquisition of Solitaire Homes for $93 million, strengthening its market position.
Cavco Industries (CVCO) has launched cavcohomes.com, a new consumer-friendly marketplace for affordable homes. This platform showcases homes from six notable brands and offers accessible features like floor plans, videos, and virtual tours, enhancing the home-buying experience. CEO Bill Boor emphasizes the company’s commitment to addressing the affordable housing crisis in America. The launch represents a significant step in consolidating Cavco's brand presence and facilitating growth. The site uses modern technology, including Elasticsearch and a React-based framework, to integrate real-time inventory and pricing, ultimately aiming to streamline the buying process.
Cavco Industries, Inc. (CVCO) has successfully completed the acquisition of Solitaire, Inc. for $93 million as of January 3, 2023. This strategic purchase enhances Cavco's operations, adding four manufacturing facilities and twenty-two retail locations across the Southwestern U.S. President Bill Boor emphasized the solid reputation of Solitaire Homes and the promising synergies expected from this integration. The acquisition is funded through cash reserves, positioning Cavco for potential revenue growth in the factory-built housing market.
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