{"schema_version":"secwatch.filing_event.v1","accession":"0000278166-23-000064","form_type":"8-K","ticker":"CVCO","cik":"0000278166","company_name":"CAVCO INDUSTRIES, INC.","filed_at":"2023-08-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.212387+00:00","generated_at":"2026-06-12T09:43:15.905729+00:00","sec_items":["2.02","5.02","5.07","8.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Cavco fiscal Q1 revenue down 19% to $476M; EPS $5.29 vs $6.63; announces new $100M buyback","bullets":["Net revenue $476M, down 19% YoY; net income $46.4M, diluted EPS $5.29 vs $6.63.","Factory-built housing revenue down 20.2%; home sales volumes fell 14.3% and average price decreased 6.9%.","Backlog dropped to $177M from $244M in the prior quarter, a decline of $67M.","Financial services gross profit margin fell to 24.0% from 32.6% due to higher weather-related insurance claims.","Board approved new $100M stock repurchase program, bringing total authorization to $135.7M."],"urls":{"canonical":"https://secwatch.observer/filing/0000278166-23-000064","json":"https://secwatch.observer/filing/0000278166-23-000064.json","markdown":"https://secwatch.observer/filing/0000278166-23-000064.md","text":"https://secwatch.observer/filing/0000278166-23-000064.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/278166/000027816623000064/0000278166-23-000064-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/278166/000027816623000064/cvco-20230801.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T09:43:15.905729+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a50f3c9979dd017e5a29b305469bf39674606685","claim":"CAVCO INDUSTRIES, INC. reported first fiscal quarter ended July 1, 2023 results: revenue $476 million, net income $46,357, EPS $5.29.","evidence_excerpt":"First Quarter Summary • Net revenue was $476 million, down 19% compared to $588 million in the first quarter of the prior year. • Factory-built housing Gross profit as a percentage of Net revenue was 24.8%, compared to 24.4% in the prior year. The current year period was impacted by purchase accounting adjustments on acquired inventory related to Solitaire Homes, which reduced Factory-built housing margins by 40 basis points. • Financial services Gross profit as a percentage of Net revenue was 24.0% compared to 32.6% in the prior year. The decrease was the result of higher insurance claims from weather related events. • Income before income taxes was $61 million, down 23% compared to $79 million in the prior year period. • Net income per diluted share attributable to Cavco common stockholders was $5.29 compared to $6.63 in the prior year quarter.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/278166/000027816623000064/0000278166-23-000064-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first fiscal quarter ended July 1, 2023"},{"label":"Revenue","value":"$476 million"},{"label":"Net income","value":"$46,357"},{"label":"EPS","value":"$5.29"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"3e9c8f61d12b4aeef92e98e50d3169b7a2669c72","claim":"CAVCO INDUSTRIES, INC. shareholders approved Election of Directors at the 2023-08-01 meeting.","evidence_excerpt":"Proposal Number 1: Vote to elect the nominees listed below as directors: Name Votes For Votes Against Abstentions Broker Non-Votes Susan L. Blount 6,820,191 920,055 950 211,753 William C. Boor 7,661,383 78,824 989 211,753","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/278166/000027816623000064/0000278166-23-000064-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"director election"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-08-01"}],"fact_type":"shareholder_vote"},{"claim_id":"4f34b126d48e8c04fefe3ff4b423fddec53f1fa2","claim":"CAVCO INDUSTRIES, INC. shareholders approved Advisory vote on executive compensation at the 2023-08-01 meeting.","evidence_excerpt":"Proposal Number 2: Advisory vote on executive compensation: Votes For Votes Against Abstentions Broker Non-Votes 7,523,523 197,901 19,772 211,753","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/278166/000027816623000064/0000278166-23-000064-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"say on pay"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-08-01"}],"fact_type":"shareholder_vote"},{"claim_id":"58bc930d9b1e09246404ccbc23ef51deee73b933","claim":"CAVCO INDUSTRIES, INC. shareholders approved Advisory vote on frequency of future executive compensation votes at the 2023-08-01 meeting.","evidence_excerpt":"Proposal Number 3 : Advisory vote on frequency of future executive compensation votes: Every Year Every 2 Years Every 3 Years Abstain Broker Non-Votes 7,282,015 1,871 434,346 22,964 211,753","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/278166/000027816623000064/0000278166-23-000064-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"say on pay frequency"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-08-01"}],"fact_type":"shareholder_vote"},{"claim_id":"61d4e53b39847f9d55c0cd1b0849ecd465d55659","claim":"CAVCO INDUSTRIES, INC. shareholders approved Approve the Cavco Industries, Inc. 2023 Omnibus Equity Incentive Plan at the 2023-08-01 meeting.","evidence_excerpt":"Proposal Number 4 : Approve the Cavco Industries, Inc. 2023 Omnibus Equity Incentive Plan: Votes For Votes Against Abstentions Broker Non-Votes 7,075,813 645,798 19,585 211,753","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/278166/000027816623000064/0000278166-23-000064-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"equity plan"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-08-01"}],"fact_type":"shareholder_vote"},{"claim_id":"eb454cf17f9d773334bb615eb0184c8ce65ba6c7","claim":"CAVCO INDUSTRIES, INC. shareholders approved Ratify the appointment of RSM US LLP as independent registered public accounting firm for fiscal year 2024 at the 2023-08-01 meeting.","evidence_excerpt":"Proposal Number 5 : Vote to ratify the appointment of RSM US LLP as independent registered public accounting firm for fiscal year 2024: Votes For Votes Against Abstentions 7,605,138 329,200 18,611","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/278166/000027816623000064/0000278166-23-000064-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"auditor ratification"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-08-01"}],"fact_type":"shareholder_vote"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}