Cavco Industries, Inc. has recently released its 10-Q report, providing a detailed look at the company's operations and financial performance. The company, headquartered in Phoenix, Arizona, designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. Cavco Industries, Inc. also produces park model RVs, vacation cabins, and factory-built commercial structures, including apartment buildings, condominiums, hotels, workforce housing, schools, and housing for the United States military troops. In addition, the company provides conforming and non-conforming mortgages and home-only loans to purchasers of various brands of factory-built homes sold by company-owned retail stores and various independent distributors, builders, communities, and developers. Further, it offers property and casualty insurance to owners of manufactured homes.
In the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section, Cavco Industries, Inc. highlights several key points. The company emphasizes its efforts to develop the home-only loan secondary market and discusses its financial performance, liquidity, and strategy. It also addresses factors such as economic conditions, consumer confidence, and the cost and availability of labor and raw materials. Additionally, the report mentions the company's initiatives to identify niche market opportunities, focusing on building quality, energy-efficient homes, and maintaining a conservative cost structure to add value to its products.
The report also provides an overview of the company's operations and financial results. For the three months ended September 27, 2025, Cavco Industries, Inc. reported net revenue of $556.5 million, representing a 9.7% increase compared to the same period in the previous year. The gross profit for the same period was $134.4 million, with a gross profit margin of 24.2%. The company's selling, general, and administrative expenses totaled $72.2 million, representing 13.0% of net revenue. Additionally, the report details other components of net income, including interest income and expenses.
Furthermore, the report discusses the company's factory-built housing segment's performance, indicating an increase in net revenue primarily due to higher home sales volume and an increase in net revenue per home sold. The financial services segment also saw an increase in net revenue, primarily driven by higher insurance premiums and lower claim losses.
The market has reacted to these announcements by moving the company's shares -0.02% to a price of $504.00. Check out the company's full 10-Q submission here.
