Cavco Industries Reports Fiscal 2024 Third Quarter Results and Announces New $100 Million Stock Repurchase Program
Cavco Industries, Inc. (CVCO)
US:NASDAQ Investor Relations:
investor.cavco.com
Company Research
Source: GlobeNewswire
PHOENIX, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Cavco Industries, Inc. (Nasdaq: CVCO) ("we," "our," the "Company" or "Cavco") today announced financial results for the third fiscal quarter ended December 30, 2023. Third Quarter Summary Net revenue was $447 million, down $54 million or 10.8% compared to $501 million in the third quarter of the prior year.Factory-built housing Gross profit as a percentage of Net revenue was 22.4%, compared to 25.5% in the prior year. Financial services Gross profit as a percentage of Net revenue was 36.8%, compared to 46.6% in the prior year. Income before income taxes was $44 million, down $32 million or 42.1% compared to $76 million in the prior year period.Net income per diluted share attributable to Cavco common stockholders was $4.27 compared to $6.66 in the prior year quarter.Backlogs totaled $160 million at the end of the quarter, with modules in backlog growing 3% from the September quarter. Due to a decrease in backlog average selling price,
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News
- Is Cavco Industries, Inc.'s (NASDAQ:CVCO) Latest Stock Performance A Reflection Of Its Financial Health? [Yahoo! Finance]Yahoo! Finance
- Quarterly Update: Analyzing Cavco's Triumph In Affordable Housing [Seeking Alpha]Seeking Alpha
- Cavco (CVCO) Moves to Buy: Rationale Behind the Upgrade [Yahoo! Finance]Yahoo! Finance
- Cavco Industries: Fantastic Business But Transition Period To Avoid [Seeking Alpha]Seeking Alpha
- Cavco Industries Receives Training Magazine APEX Award Recognition [Yahoo! Finance]Yahoo! Finance
CVCO
Earnings
- 2/1/24 - Miss
CVCO
Sec Filings
- 4/19/24 - Form 4
- 2/15/24 - Form 4
- 2/14/24 - Form 144
- CVCO's page on the SEC website