Every material Form 8-K Cavco Industries filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Cavco Industries reported results for its fiscal second quarter ended September 27, 2025, with net revenue of $556.5 million, up 9.7%, and diluted earnings per share of $6.55, up from $5.28 a year earlier. The company also said it closed its acquisition of American Homestar Corporation after the quarter ended and that Lisa Daniels has joined its Board of Directors, which the release presents as continued operating strength.
Net revenue was $556.5 million, up 9.7% from $507.5 million; net income was $52.4 million, up 19.6%.
Diluted EPS was $6.55 versus $5.28, up 24%; Financial services gross margin rose to 55.6% from 21.8%, while factory-built housing gross margin was flat at 22.9%.
Stock repurchases were about $36 million in the quarter, with $142 million remaining under Board authorizations.
American Homestar Corporation acquisition closed after quarter end; Lisa Daniels joined the Board of Directors.
Cavco Industries expanded its board from seven to eight directors and appointed Lisa L. Daniels, a former KPMG Vice Chair, as an independent Class II director effective October 27, 2025. She also joined the Audit Committee and the Corporate Governance and Nominating Committee, and the filing states she is a qualified SEC audit committee financial expert.
Board increased from 7 to 8 directors; Lisa L. Daniels appointed effective October 27, 2025, with initial term expiring at the 2026 annual meeting
Daniels appointed to Audit Committee and Corporate Governance and Nominating Committee
Daniels spent 32 years at KPMG, most recently as Vice Chair, Growth and Strategy
Filing states no related party transactions and no arrangements with the company for her selection
Cavco Industries completed its acquisition of American Homestar Corporation on September 29, 2025, under a merger agreement dated July 14, 2025. The purchase price totaled $190 million, funded with cash on hand, and is subject to customary post-closing adjustments. The deal adds two manufacturing facilities and nineteen retail locations to Cavco's operations.
Purchase price totaled $190 million, subject to customary adjustments, funded with cash on hand
Cash consideration of $20.62 per share paid to American Homestar common shareholders at the effective time
American Homestar operates two manufacturing facilities and nineteen retail locations, and sells a limited number of manufactured home loans
Merger closed after receipt of all required regulatory approvals, including Hart-Scott-Rodino clearance
Cavco reported fiscal first quarter results for the period ended June 28, 2025, with net revenue of $557 million, up 16.6%, mainly on higher home sales volume. Net income rose 50% to $51.6 million, and diluted earnings per share were $6.42 compared with $4.11 a year earlier, which shows improvement in both headline profit measures for shareholders.
Net revenue was $557 million, up 16.6% from $478 million, with factory-built homes sold up 14.7%.
Diluted net income per share was $6.42, up from $4.11; net income was $51.6 million, up from $34.4 million.
Factory-built housing gross margin was 22.6%, unchanged; financial services gross margin was 40.9%, compared with (0.6)% a year earlier.
Stock repurchases were about $50 million in the quarter, and $178 million remains available under Board authorizations.
Cavco Industries agreed on July 14, 2025 to acquire American Homestar Corporation, a Texas-based manufactured home builder and retailer, for a base price of $190 million in cash, to be funded from existing cash on hand. American Homestar had revenues of $194 million and net income of $16.6 million for the twelve months ended May 31, 2025, according to the company's press release; the deal is expected to close in Cavco's fiscal third quarter of 2026 and Cavco expects it to be accretive to earnings and cash flow from operations.
Base purchase price of $190 million in cash, subject to customary adjustments for indebtedness and working capital
American Homestar revenues of $194 million, net income of $16.6 million and Adjusted EBITDA of $17.8 million for the twelve months ended May 31, 2025
Closing expected in Cavco's third quarter of fiscal 2026; merger agreement can be terminated if not completed by October 31, 2025
Requires approval of at least 80% of American Homestar's voting power and Hart-Scott-Rodino waiting period expiration; American Homestar would pay a $6 million termination fee in specified circumstances
Cavco Industries reported fiscal fourth-quarter 2025 net revenue of $508 million, up 21% from a year earlier, and diluted earnings per share of $4.47 versus $4.03. The board also approved a new $150 million stock repurchase program on May 20, 2025, which the company expects to fund from existing cash.
Q4 net revenue was $508 million, up 21% from $420 million; GAAP diluted EPS was $4.47 versus $4.03.
Adjusted diluted EPS was $5.40, excluding a $10.0 million non-cash charge tied to legacy brand intangibles.
The board approved a new $150 million stock repurchase program on May 20, 2025; timing and amount are at the company's discretion and it may be suspended at any time.
Cavco reported results for its fiscal third quarter ended December 28, 2024, with net revenue of $522 million, up 16.8% from a year earlier, mainly on higher home sales volume. Net income attributable to common stockholders rose 56.9% to $56.5 million, and diluted earnings per share were $6.90 versus $4.27, which the company said included positive tax items and stock buybacks.
Net revenue of $522 million, up 16.8% from $447 million, primarily on home sales volume growth of 21.6%
Diluted EPS of $6.90 versus $4.27 a year earlier; net income attributable to common stockholders of $56.5 million
Financial services gross profit was 55.5% of net revenue, compared with 36.8% in the prior-year quarter
Stock repurchases were approximately $42 million in the quarter; backlogs totaled $224 million at quarter end
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