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) reported a record fourth quarter with net revenue reaching $306.5 million, a 20.1% increase from the previous year. Gross profit as a percentage of net revenue improved to 23.1%, demonstrating enhanced operational efficiency. Earnings per diluted share rose to $2.71, compared to $1.29 last year. For fiscal year 2021, net revenue grew 4.3% to $1.108 billion, marking eleven consecutive years of revenue growth. Home sales order rates surged 50% year-over-year, increasing backlogs significantly to $603 million.
Cavco Industries, Inc. (Nasdaq: CVCO) will announce fourth-quarter earnings for the fiscal year ended April 3, 2021, on May 26, 2021, after the market closes. A live webcast will follow on May 27, 2021, at 1:00 PM Eastern Time, where senior management will discuss the results. Cavco is a leading manufacturer of factory-built housing products and is known for its diverse brand offerings, including Fleetwood and Palm Harbor. The company also provides mortgage and insurance services related to manufactured homes.
Cavco Industries (NASDAQ: CVCO) announces the retirement of Charley Lott, a key figure in the manufactured home industry, effective July 9, 2021. Lott has over 50 years of experience, significantly impacting Fleetwood and Cavco since joining in 2008. Brian Cira will succeed him as President of Manufactured Housing, bringing 38 years of experience. CEO Bill Boor commended Lott's contributions, highlighting his recent induction into the MH/RV Hall of Fame. Cira is expected to lead with a focus on results and continuous improvement, marking an exciting transition for the company.
Cavco Industries (CVCO) announced the acquisition of a new 118,000 square-foot production facility in Glendale, Arizona, aimed at manufacturing park models, cabins, and cottages compliant with ANSI standards. This facility will not only enhance service to park model customers but will also free up capacity at the Goodyear facility for HUD code homes, catering to the Southwest region. The project, expected to complete by December 2021, will create nearly 200 jobs, marking a significant growth step for the company.
Cavco Industries, Inc. (CVCO) reported a 5.5% increase in net revenue to $288.8 million for Q3 FY2021 compared to $273.7 million a year earlier. The factory-built housing segment saw a 5.3% revenue rise to $270.8 million, primarily due to higher home selling prices, offset by a 6.8% drop in sales volume. Income from operations increased 3.5% to $23.8 million, although net income fell 5.7% to $19.7 million. Order backlogs surged 310% to $472 million, indicating strong demand despite production challenges.
Cavco Industries (CVCO) is set to release its earnings for the third quarter ending December 26, 2020, on January 28, 2021, after market close. A live webcast discussing these results will occur on January 29, 2021, at 1:00 PM ET. The earnings announcement will provide insights into the company's performance as one of the largest producers of manufactured homes in the U.S., operating under several brand names and also involved in financing and insurance.
Cavco Industries, Inc. (Nasdaq: CVCO) reported a 4.0% decrease in net revenue to $258.0 million for Q2 FY2021, down from $268.7 million in Q2 FY2020. For the first half of FY2021, revenue fell 3.7% to $512.8 million. The factory-built housing segment faced a 4.6% decline in revenue due to lower home sales volume, yet there was a 65% increase in sales order activity compared to the prior year. Net income dropped 28.2% to $15.0 million, and EPS was $1.62. A $100 million stock repurchase program was also announced, replacing a $10 million prior authorization.
Cavco Industries, Inc. (CVCO) will announce its second-quarter earnings for the period ending September 26, 2020, on October 29, 2020, post-market close. A live webcast will follow on October 30, 2020, at 1:00 PM ET, where senior management will discuss the earnings results. The company, a major producer of manufactured homes and park model RVs in the U.S., also operates a finance subsidiary and offers insurance services. Investors can tune in via the provided internet link or by phone.
Cavco Industries (CVCO) will announce its earnings for the first quarter ending June 27, 2020, on July 30, 2020, post-market. A live webcast detailing the earnings will occur on July 31, 2020, at 1:00 PM ET. The company, based in Phoenix, Arizona, is a leading producer of manufactured homes and related structures, marketed under various brand names. Cavco also offers financing through its subsidiary, CountryPlace Mortgage, and provides insurance via Standard Casualty.
Cavco Industries (CVCO) reported financial results for Q4 and FY ended March 28, 2020. Q4 net revenue rose 5.9% to $255.3M, driven by improved home sales and higher prices. However, income before taxes fell 47.9% to $13.6M, reflecting pandemic-related challenges in operations. FY revenue reached $1.062B, up 10.3%, with net income of $75.1M (up 9.5%). The company anticipates ongoing difficulties from COVID-19, impacting home sales orders and production rates, which dropped by 40% in mid-April. Despite these challenges, Cavco maintains a healthy balance sheet and positive outlook.
