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) has announced a strategic brand unification initiative, consolidating its manufacturing brand portfolio under the Cavco name. The company introduced a new tagline, 'Where Exceptional Meets Affordable', marking its 60th anniversary in the affordable housing market.
The rebranding strategy aims to strengthen national brand identity and streamline product segmentation, focusing on defined product lines rather than legacy brand names. This change is designed to simplify the homebuying process and enhance digital marketing effectiveness for prospective homebuyers, dealers, communities, and developers.
The brand realignment will result in a non-cash charge in Q4 fiscal 2025, impacting pre-tax earnings by approximately $9.9 million and reducing net income by about $7.6 million, reflecting adjustments to legacy intangible brand values.
Cavco Industries (NASDAQ: CVCO) reported strong financial results for Q3 FY2025. Net revenue increased 16.8% to $522 million, driven by a 21.6% growth in home sales volume. Factory-built housing gross profit margin improved to 23.6% from 22.4% year-over-year, while financial services gross profit margin rose to 55.5% from 36.8%.
The company's income before taxes grew 57.9% to $69.3 million, with diluted EPS rising 62% to $6.90. Production capacity utilization increased to 75% from 60% in the prior year. Backlogs stood at $224 million, representing 6-8 weeks of production. The company executed $42 million in stock repurchases during the quarter.
Enpro (NYSE: NPO) has appointed Allison K. Aden to its Board of Directors. Aden brings 30 years of finance experience and currently serves as Executive Vice President and CFO of Cavco Industries. Her expertise spans accounting, financial reporting, corporate strategy, M&A, IT, and cybersecurity across manufacturing, information technology, financial services, and commercial real estate sectors. At Cavco, she leads M&A efforts and oversees financial operations while playing a key role in strategic direction.
Cavco Industries (CVCO) reported strong Q2 FY2025 results with net revenue of $507 million, up 12.3% year-over-year. Home sales volume increased 15.7% with capacity utilization rising to 70%. The company achieved net income of $5.28 per diluted share, up from $4.76 in the prior year. Factory-built housing gross profit margin was 22.9%. Backlogs grew 19% to $276 million, with module backlog up 20%. The Board approved a new $100 million stock repurchase program. Financial services segment was impacted by Hurricane Beryl claims, with gross profit margin declining to 21.8% from 35.9% year-over-year.
Cavco Industries (Nasdaq: CVCO) has scheduled its fiscal 2025 second quarter earnings release for October 31, 2024, after market close. The company will host a live webcast discussion with senior management on November 1, 2024, at 1:00 p.m. ET. Cavco is a leading manufacturer of factory-built housing, including manufactured and modular homes, park model RVs, and commercial structures, distributed through independent and company-owned retailers. The company operates financial and insurance subsidiaries through CountryPlace Mortgage and Standard Casualty.
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.
