secwatch.observer — SEC 8-K summary
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Issuer:     CAVCO INDUSTRIES, INC. (CVCO)
CIK:        0000278166
Form:       8-K
Filed at:   2024-02-01T23:59:59+00:00
Accession:  0000278166-24-000004
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cavco Q3 revenue down 10.8% to $447M; EPS $4.27 vs $6.66; new $100M buyback authorized
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- Net revenue $447M (-10.8% YoY); net income per diluted share $4.27 vs $6.66 in prior year.
- Factory-built housing gross margin fell to 22.4% from 25.5%; financial services margin dropped to 36.8% from 46.6%.
- Backlog $160M at quarter end; orders written on same-plant basis highest in six quarters.
- Board approved new $100M stock repurchase program, bringing total authorization to $139M including prior remaining.
- Company repurchased ~$50M of stock during the quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/278166/000027816624000004/0000278166-24-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/278166/000027816624000004/cvco-20240130.htm
  HTML page:      https://secwatch.observer/filing/0000278166-24-000004

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer