Cavco Q2 revenue down 21.7% YoY to $452M; EPS $4.76 vs $8.25

CAVCO INDUSTRIES, INC.

2024-Q2 EPS reported $10.05 revenue$927,905,000

Net revenue $452M, down 21.7% YoY; diluted EPS $4.76 vs $8.25 in prior year.
Factory-built housing gross margin fell to 23.2% from 26.7% on lower volume and selling prices.
Backlogs held at $170M (~6 weeks); $47M returned to shareholders via buybacks.
Income before taxes $52M, down 44.1% YoY; financial services margins hurt by weather claims.
CEO cites rising interest rates with no relief for prospective homeowners; affordable housing crisis worsens.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

CAVCO INDUSTRIES, INC. reported fiscal second quarter ended September 30, 2023 results: revenue $452 million, EPS $4.76.

Period: fiscal second quarter ended September 30, 2023
Revenue: $452 million
EPS: $4.76
Result: reported results

Exact text from the filing

Net revenue was $452 million, down 21.7% compared to $577 million in the second quarter of the prior year.

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CAVCO INDUSTRIES, INC. filing history →

Source: SEC EDGAR

accession 0000278166-23-000077

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