Cavco Q4 net income down 28% YoY; FY revenue falls 16% to $1.795B

CAVCO INDUSTRIES, INC.

2024-FY EPS reported $18.37 revenue$1,794,792,000

Q4 net revenue $420M, net income $34M, diluted EPS $4.03 vs $5.39 last year.
Full-year revenue $1.795B, down 16.2% YoY; diluted EPS $18.37 vs $26.95.
Factory-built housing gross margin 22.4% (Q4) vs 24.4% prior year; lower sales volume main driver.
Backlog $191M, up 19% from prior quarter but down from $244M a year ago.
Stock repurchases ~$110M in fiscal year; Solitaire acquisition integrated.

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