Quarterly ResultJul 30, 2026, 04:53 PM
Cavco Q1 Net Revenue $610M, EPS $5.43; Backlog Up 50%
AI Summary
Cavco Industries reported fiscal first-quarter results with net revenue increasing 9.5% to $610 million, driven by higher home sales volume and the American Homestar acquisition. However, net income per diluted share decreased to $5.43 from $6.42 in the prior year. The company saw strong order momentum, growing its backlog by over 50% to $298 million, and repurchased approximately $30 million in stock. Management also highlighted positive regulatory progress with the passing of the 21st Century ROAD to Housing Act.
Key Highlights
- Net revenue was $610 million, up 9.5% compared to $557 million in prior year.
- Net income per diluted share was $5.43, down from $6.42 in prior year quarter.
- Factory-built housing net revenue increased 9.4% to $585.97 million.
- Financial services net revenue increased 13.3% to $23.99 million.
- Backlogs totaled $298 million, up from $195 million in the prior year.
- Stock repurchases were approximately $30 million in the quarter.
- Income before income taxes was $55.8 million, down 14.6% from $65.3 million.
- Home sales volume increased 4.4%.
Price Impact
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