Cavco Industries, Inc. reported a significant increase in financial performance for the fiscal year ending March 28, 2026, with total net revenue reaching $2.24 billion, a rise of 11.4% from $2.02 billion in the previous year. The factory-built housing segment contributed $2.16 billion, up 11.6% from $1.93 billion, driven by a combination of higher average selling prices and increased home sales volume. The company sold 20,842 homes during the fiscal year, marking a 5.5% increase from 19,753 homes sold in the prior year. The average revenue per home sold also increased to $103,510, up 5.8% from $97,864.
The fiscal year saw the acquisition of American Homestar Corporation, which added approximately $90.5 million to revenue. Excluding this acquisition, revenue growth was attributed to higher average selling prices and increased sales volume. Gross profit for the factory-built housing segment rose to $476.3 million, a 7.8% increase, while the financial services segment saw a substantial increase in gross profit of 112.5%, reaching $50.6 million, primarily due to higher insurance premiums and improved underwriting results.
Operationally, Cavco's workforce comprised approximately 7,700 employees, and the company maintained a network of 92 retail stores across 13 states, with a significant presence in Texas. The company’s home order backlog at the end of the fiscal year was approximately $195 million, a slight decrease from $197 million the previous year. The company continues to focus on balancing production levels with demand, while also expanding its commercial loan programs to support distributors and developers.
Looking ahead, Cavco Industries faces challenges related to market conditions, including potential fluctuations in housing demand and the availability of financing for consumers. The company is actively working to enhance its lending programs and expand secondary market opportunities for manufactured home-only loans. Despite these challenges, Cavco remains committed to its strategic initiatives and believes that its current cash flow and liquidity position will support its operations and growth plans in the foreseeable future.
About CAVCO INDUSTRIES INC.
Cavco Industries, Inc. designs and manufactures factory-built homes, including HUD-code manufactured homes, modular homes, park model RVs, vacation cabins, and commercial structures. It serves entry-level, move-up, and 55+ homebuyers through a network of independent and company-owned retailers across the U.S. and Canada. Cavco’s business model integrates customizable, energy-efficient housing production with financing and insurance services tailored to manufactured home customers, emphasizing affordability and quality.
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