CAVCO INDUSTRIES, INC. — Form 8-K
Filed July 30, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 48/100
What the filing says
For the quarter ended June 27, 2026, Cavco reported net revenue of $610M (up 9.5% YoY from $557M), driven by 4.4% growth in home sales volume to 5,657 units and a 50%+ increase in backlog to $298M (7–9 weeks of production, vs. $195M prior year). However, factory-built housing gross margin contracted 180 basis points to 20.8% due to higher input costs, and diluted EPS fell 15.4% to $5.43 from $6.42, with net income down 18.1% to $42.3M from $51.6M. Financial services gross margin expanded 1,150 bps to 52.4%. The company repurchased ~$30M in stock; $188M remains authorized.
Why this rating
Revenue growth and backlog surge are operationally positive, but margin compression and 15% EPS decline offset gains. At $3B market cap, $53M revenue lift is 1.8% of annual run-rate; $298M backlog is material but expected. Margin pressure is concerning but not yet structural threat.
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