Cavco Industries Reports $609.96 Million Revenue, Net Income Declines to $42.27 Million

Cavco Industries, Inc. reported a net revenue of $609.96 million for the three months ended June 27, 2026, marking a 9.5% increase from $556.86 million in the same period last year. The company's net income for the quarter was $42.27 million, down from $51.64 million a year earlier, resulting in a diluted earnings per share of $5.43 compared to $6.42 in the prior year. The decrease in profitability was attributed to increased selling, general, and administrative expenses, which rose to $81.84 million from $69.15 million, largely due to the acquisition of American Homestar Corporation and higher employee-related costs.

The acquisition of American Homestar, completed on September 29, 2025, significantly impacted Cavco's financial performance, contributing approximately $52.8 million to revenue during the quarter. This acquisition included two manufacturing facilities and 19 retail locations, enhancing Cavco's market presence in the South Central U.S. Despite the revenue boost from the acquisition, the company experienced a decline in sales volume from its existing operations, which partially offset the gains.

Operationally, Cavco's factory-built housing segment generated $585.97 million in revenue, a 9.4% increase from the previous year, while the financial services segment saw a 13.3% rise to $23.99 million. The number of factory-built homes sold through company-owned retail centers increased by 34.7% to 1,378 units, while sales to independent retailers and builders decreased slightly. The average revenue per home sold rose to $103,584, reflecting a 4.7% increase, driven by a favorable product mix and pricing strategies.

Cavco's total assets increased to $1.54 billion as of June 27, 2026, up from $1.49 billion at the end of the previous fiscal period. The company's cash and cash equivalents rose to $243.20 million, while total liabilities increased to $431.05 million, primarily due to higher accrued expenses. The company reported a backlog of $298 million, significantly higher than the $195 million reported at the end of March 2026, indicating strong future demand.

Looking ahead, Cavco remains focused on expanding its market share and enhancing operational efficiencies. The company plans to continue leveraging its acquisition of American Homestar to optimize costs and improve product offerings. However, it also faces challenges, including potential material shortages and labor availability, which could impact production and delivery timelines. The company maintains a conservative financial strategy, with sufficient liquidity to support operations and growth initiatives in the coming year.