Cavco Industries, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 30, 2023
February 02, 2024 at 02:35 am IST
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Cavco Industries, Inc. reported earnings results for the third quarter and nine months ended December 30, 2023. For the third quarter, the company reported sales was USD 426.94 million compared to USD 481.19 million a year ago. Net income was USD 35.99 million compared to USD 59.52 million a year ago. Basic earnings per share from continuing operations was USD 4.31 compared to USD 6.71 a year ago. Diluted earnings per share from continuing operations was USD 4.27 compared to USD 6.66 a year ago.
For the nine months, sales was USD 1,318.11 million compared to USD 1,613.39 million a year ago. Net income was USD 123.88 million compared to USD 193.24 million a year ago. Basic earnings per share from continuing operations was USD 14.47 compared to USD 21.72 a year ago. Diluted earnings per share from continuing operations was USD 14.34 compared to USD 21.55 a year ago.
Cavco Industries, Inc. designs and produces factory-built homes. Its segments include Factory-built Housing and Financial Services. The Factory-built Housing segment includes wholesale and retail factory-built housing operations. The Financial Services segment includes manufactured housing consumer finance and insurance. Its factory-built homes are distributed through a network of independent and Company-owned retailers, planned community operators and residential developers. Its manufactured homes are marketed under a variety of brand names, including Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry and Solitaire. It is also a producer of park model recreational vehicle (RVs), vacation cabins and factory-built commercial structures, as well as modular homes. CountryPlace Acceptance Corp. is its finance subsidiary and Standard Casualty Co. (Standard Casualty) is its insurance subsidiary.