Cavco Industries fiscal Q4 profit falls 28% on 12% lower revenue
Cavco Industries reported fiscal fourth-quarter net revenue of $420 million, down 11.8%, and net income attributable to common stockholders of $34 million, down 28.3%. For the fiscal year ended March 30, 2024, net revenue was $1.8 billion, down 16.2%, and diluted earnings per share were $18.37 compared with $26.95, as lower home sales volume and lower selling prices reduced results for shareholders.
Key points
- Fourth-quarter diluted EPS was $4.03 versus $5.39 a year earlier; factory-built housing gross margin was 22.4% versus 24.4%.
- Full-year net revenue was $1,795 million versus $2,143 million, and income before income taxes was $199 million, down 35.2%.
- Backlog was $191 million at March 30, 2024, down from $244 million at April 1, 2023.
- Stock repurchases were approximately $110 million in the fiscal year; management will hold a conference call on May 24, 2024 at 1:00 p.m. Eastern.
The filing
Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 23, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.