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Cavco Industries (CVCO)
NASDAQ:CVCO
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Earnings Data
Report Date
Jan 30, 2025TBA Not Confirmed
Period Ending
2025 (Q3)Consensus EPS Forecast
$4.89Last Year’s EPS
$4.27Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: 7.91%
|Next Earnings Date:Jan 30, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed sentiment with notable revenue growth, increased shipments, and a growing backlog indicating positive momentum. However, these were tempered by the negative impacts of hurricanes on operations, decreased gross margins, and lower average revenue per home. The balance between these highlights and lowlights suggests a cautiously optimistic outlook.Company Guidance
During the Cavco Industries Q2 2025 earnings call, executives provided guidance reflecting strong operational performance despite recent hurricane disruptions. They reported a net revenue increase to $507.5 million, up 12.3% from the previous year, driven by a 15.7% increase in homes sold. Capacity utilization improved to 70%, hitting 75% when excluding downtime around holidays. The company’s backlog grew by approximately 20%, representing 8 to 10 weeks of production, signaling strong demand. Cavco also emphasized robust capital management with $7 million in cash after $44 million in share buybacks, and an additional $100 million authorized for future buybacks. Despite these positive metrics, they acknowledged a 15 to 20 production day loss in Florida and Georgia due to hurricanes, with expectations for recovery bolstered by recent activity in the Southeast market.Increase in Net Revenue
Net revenue for the second fiscal quarter of 2025 was $507.5 million, up $55.4 million or 12.3% compared to $452 million during the prior year.
Growth in Units Shipped
Units shipped in the quarter were up 15.7% over last year's quarter.
Increase in Backlog
Strong orders resulted in backlogs growing approximately 20%, representing about 8 to 10 weeks of production.
Share Buyback Program
The Board authorized an additional $100 million for share repurchases, with $153.4 million remaining under authorization for future repurchases.
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CVCO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CVCO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $409.80 | $446.72 | +9.01% |
| Aug 01, 2024 | $401.37 | $382.97 | -4.58% |
| May 23, 2024 | $354.47 | $347.88 | -1.86% |
| Feb 01, 2024 | $337.15 | $343.05 | +1.75% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cavco Industries (CVCO) report earnings?
Cavco Industries (CVCO) is schdueled to report earning on Jan 30, 2025, TBA Not Confirmed.
What is Cavco Industries (CVCO) earnings time?
Cavco Industries (CVCO) earnings time is at Jan 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CVCO EPS forecast?
CVCO EPS forecast for the fiscal quarter 2025 (Q3) is $4.89.
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