8-K
filed May 18, 2023, 7:59 PM ET
ticker CVCO
CIK 0000278166
earnings
confidence high
sentiment neutral
materiality 0.70
Cavco Q4 EPS $5.39 vs $5.80 YoY; backlog falls to $244M from $1.1B
CAVCO INDUSTRIES, INC.
2023-FY EPS reported
$26.95
revenue$2,142,713,000
- Net revenue $476M (-5.8% YoY); full-year revenue $2.14B (+32%).
- Q4 diluted EPS $5.39 (down 7.1%); full-year EPS $26.95 (up 26.3%).
- Backlog at April 1, 2023 was $244M vs $427M three months ago and $1.1B a year ago.
- Acquired Solitaire Homes contributed $28M revenue; had pre-tax loss of $0.8M.
- Returned nearly $30M to shareholders via stock repurchases in Q4.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CAVCO INDUSTRIES, INC. reported the fiscal year ended April 1, 2023 results: EPS $26.95.
- Period
- the fiscal year ended April 1, 2023
- EPS
- $26.95
- Result
- reported results
Exact text from the filing
Full Fiscal Year Highlights • Thirteenth straight year of revenue and earnings growth, with Net revenue up 32% and Income before income taxes up 45% compared to last year. • Gross profit as a percentage of Net revenue increased 80 bps to 25.9%, with factory-built housing gross profit as a percentage of Net revenue increasing 140 bps to 25.3%. • Earnings per diluted share was $26.95 compared to $21.34 last year.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CAVCO INDUSTRIES, INC. reported the fourth quarter ended April 1, 2023 results: revenue $476 million, net income $47 million, EPS $5.39.
- Period
- the fourth quarter ended April 1, 2023
- Revenue
- $476 million
- Net income
- $47 million
- EPS
- $5.39
- Result
- reported results
Exact text from the filing
Quarterly Highlights • Net revenue and Net income of $476 million and $47 million, respectively. Solitaire Homes contributed $28 million of Net revenue and had a pre-tax loss of $0.8 million, which includes expected purchase accounting adjustments. • Gross profit as a percentage of Net revenue was 25.3% with factory-built housing gross profit as a percentage of Net revenue at 24.4%, down 30 bps and 10 bps, respectively, from last year's fourth quarter. ◦ Purchase accounting adjustment related to Solitaire Homes reduced factory-built housing gross margins 40 bps in the current period. • Earnings per diluted share was $5.39 compared to $5.80 in last year's fourth quarter.
View on SEC.gov
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