UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 CVCO The Nasdaq Stock Market LLC (Nasdaq Global Select Market) FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 29, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transitio ...

Cavco Industries, Inc. (NASDAQ:CVCO) Q1 2025 Earnings Conference Call August 2, 2024 1:00 PM ET Company Participants Mark Fusler – Corporate Controller and Investor Relations Bill Boor – President and Chief Executive Officer Allison Aden – Executive Vice President and Chief Financial Officer Paul Bigbee – Chief Accounting Officer Conference Call Participants Daniel Moore – CJS Securities Greg Palm – Craig-Hallum Jay McCanless – Wedbush Operator Good day and thank you for standing by. Welcome to the First Qu ...

Cavco (CVCO) came out with quarterly earnings of $4.11 per share, missing the Zacks Consensus Estimate of $4.97 per share. This compares to earnings of $5.29 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -17.30%. A quarter ago, it was expected that this homebuilder would post earnings of $5.13 per share when it actually produced earnings of $4.03, delivering a surprise of -21.44%. Over the last four quarters, the company has ...

For additional information, contact: Mark Fusler Corporate Controller and Investor Relations investor_relations@cavco.com News ReleasePhone: 602-256-6263 On the Internet: www.cavcoindustries.com FOR IMMEDIATE RELEASE CAVCO INDUSTRIES REPORTS FISCAL 2025 FIRST QUARTER RESULTS Improving Factory-built housing Results; High Claims in Insurance Operation PHOENIX, August 1, 2024 (GLOBE NEWSWIRE) – Cavco Industries, Inc. (Nasdaq: CVCO) ("we," "our," the "Company" or "Cavco") today announced financial results for t ...

PHOENIX, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Cavco Industries, Inc. (Nasdaq: CVCO) ("we," "our," the "Company" or "Cavco") today announced financial results for the first fiscal quarter ended June 29, 2024. Three Months Ended Quarterly Highlights Net revenue was $478 million, up $2 million or 0.4% compared to $476 million in the first quarter of the prior year, primarily on home sales volume growth. Sequentially, home sales volume is up 20% and capacity utilization is up to approximately 65% from approximatel ...

S&P Capital IQ This jump in July seems to be due to the interest rate cut expectations. The whole homebuilder industry outperformed together with my other recommendation NVR. They seem unaffected by the negative sentiment around the market these days. For the remainder of this article, we will analyze the state of the US housing industry and the consumer. Cavco Benefits From Favorable Housing Market Dynamics My initial thesis argued that homeowners had no intention of selling their homes and buying new ones ...

Date: August 2, 2024 Listen via Telephone: To participate in the call, please register here to receive the dial-in number and your unique PIN. 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 one of the largest producers of manufactured and modular homes in the United States, based on reported wholesale shipments. Our products are marketed under a variety o ...

Financial Performance - Net revenue for fiscal year 2024 was $1,794.8 million, a decrease of 16.2% from $2,142.7 million in fiscal year 2023, primarily due to lower sales volume and selling prices in the factory-built housing segment [56]. - Total homes sold decreased by 12.6% to 16,928 in fiscal year 2024 from 19,376 in fiscal year 2023 [56]. - Gross profit for fiscal year 2024 was $426.9 million, down 23.1% from $554.9 million in fiscal year 2023, with gross profit margin decreasing to 23.8% from 25.9% [60]. - The factory-built housing segment's gross profit decreased by 23.8% to $398.9 million, attributed to lower home sales prices and fewer units sold [60]. - Income before income taxes for fiscal year 2024 was $199.2 million, a decrease of 35.1% from $306.8 million in fiscal year 2023 [68]. Expenses and Costs - Selling, general and administrative expenses as a percentage of net revenue increased to 13.8% in fiscal year 2024 from 12.1% in fiscal year 2023 [61]. - Selling, general and administrative expenses decreased by $19.5 million due to lower wages and benefits, offset by a $19.1 million increase from the acquisition of Solitaire operations [67]. Cash and Liquidity - Cash, cash equivalents, and restricted cash at the end of fiscal year 2024 increased to $368.8 million, up $85.3 million from $283.5 million at the end of fiscal year 2023 [75]. - Net cash provided by operating activities decreased by $31.0 million to $224.7 million in fiscal year 2024 compared to $255.7 million in fiscal year 2023 [75]. - The company maintains a $50.0 million revolving credit facility, with no amounts outstanding as of March 30, 2024 [73]. - The company anticipates compliance with its debt covenants, projecting cash availability to exceed operational needs for the next year [73]. Interest and Loans - Interest income rose to $21.0 million in fiscal year 2024 from $10.7 million in fiscal year 2023, driven by higher interest rates [63]. - Consumer loan originations decreased by $87.2 million to $90.8 million in fiscal year 2024, while proceeds from the sale of consumer loans decreased by $94.5 million [76]. - Commercial loan originations decreased by $20.8 million to $111.2 million in fiscal year 2024, with proceeds from collections increasing by $19.1 million [77]. - A 1% increase in average interest rates could reduce the fair value of consumer loans receivable by approximately $1.1 million [94]. Backlog and Market Focus - The home order backlog as of March 30, 2024, was approximately $191 million, down $53 million from $244 million a year earlier [47]. - The company continues to focus on balancing production levels and workforce size with demand to maximize efficiencies [47]. - The company is investing in community-based lending initiatives to expand lending availability in the manufactured home industry [51]. Taxation - Effective tax rate for fiscal year 2024 was 20.7%, down from 21.5% in fiscal year 2023, primarily due to $4.2 million in tax credits related to energy-efficient homes [66].

Cavco Industries, Inc. (NASDAQ:CVCO) Q4 2024 Earnings Conference Call May 24, 2024 1:00 PM ET Company Participants Mark Fusler - Corporate Controller and Investor Relations Bill Boor - President and Chief Executive Officer Allison Aden - Executive Vice President and Chief Financial Officer Paul Bigbee - Chief Accounting Officer Conference Call Participants Greg Palm - Craig-Hallum Jay McCanless - Wedbush Securities Daniel Moore - CJS Securities Michael Chapman - Aviance Capital Partners Operator Good day an ...

Phone: 602-256-6263 On the Internet: www.cavcoindustries.com FOR IMMEDIATE RELEASE News Release For additional information, contact: Mark Fusler Corporate Controller and Investor Relations investor_relations@cavco.com CAVCO INDUSTRIES REPORTS FISCAL 2024 FOURTH QUARTER AND YEAR END RESULTS PHOENIX, May 23, 2024 (GLOBE NEWSWIRE) – Cavco Industries, Inc. (Nasdaq: CVCO) today announced financial results for the fourth quarter and fiscal year ended March 30, 2024. Quarterly Highlights Full Fiscal Year Highlight ...