Cavco Q1 revenue $588M, EPS $6.63; backlog $1B; new $100M buyback; SEC settlement

CAVCO INDUSTRIES, INC.

2023-Q1 EPS reported $6.63 revenue$588,338,000

Net revenue record $588M (+78% YoY); diluted EPS $6.63 vs $2.92; net income $60M.
Factory-built housing segment revenue $573M (+83%); gross margin 24.4% vs 21.2%.
Backlog $1.0B (+26% YoY); factory capacity utilization >85%, a 10-year record.
Returned $39M to shareholders via buybacks; Board approved new $100M repurchase program.
SEC litigation settlement reached in principle; expected within 60 days; not material to financials.

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