NASDAQ$CVCO

Cavco Industries Inc · Q2 2025 earnings

Q2 2025 earnings · · Investor relations

Briefing

Cavco's Q2 2025 performance was marked by revenue growth and increased production, although financial services were impacted by weather-related claims.

Cavco Industries reported strong second quarter results with a 12.3% increase in net revenue, driven by home sales volume growth. The company faced challenges in its financial services segment due to weather-related claims, but overall profitability remained solid. They also announced a new $100 million stock repurchase program.

  • Net revenue increased by 12.3% to $507 million, driven by growth in home sales volume.
  • Home sales volume rose by 15.7%, with capacity utilization increasing to approximately 70%.
  • Backlogs grew to $276 million, a 19% increase from the previous quarter, fueled by a 20% rise in module backlogs.
  • Diluted net income per share attributable to Cavco common stockholders was $5.28, compared to $4.76 in the prior year quarter.

Headline financials

Total Revenue

$507M

Previous: $452M+12.3%
EPS

$5.28

Previous: $4.76+10.9%
Factory-built modules sold

8.1K

Previous: 6.9K+17.5%
Factory-built homes sold

4.9K

Previous: 4.2K+15.7%
Backlog

$276M

Previous: $170M+62.4%
Capital Expenditures

-$9.85M

Previous: -$8.47M-16.3%
Free Cash Flow

$34M

Previous: $33.1M+2.7%
Net Income

$43.8M

Previous: $41.5M+5.5%
Operating Income

$49.1M

Previous: $45.5M+8.1%
Gross Profit

$116M

Previous: $107M+8.6%
Stock-Based Comp

$2.71M

Previous: $1.55M+74.9%

Revenue & EPS history

Cavco · Revenue · Quarterly

$507M

Q2 2025+12.3%vs Q2 2024
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

Cavco · $550M total across 2 segments · Q4 2026

  • Factory-Built Housing
    $528M
  • Financial Services
    $22.1M

Forward guidance

Cavco did not provide specific forward guidance in this report. The report highlights the impact of recent hurricanes on operations and expresses support for affected employees and communities.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2025

Historical avgQ2 2025

+1.0%

Avg return

Earnings day

+3.7%

Avg return

5 days after

+4.9%

Avg return

30 days after

59%

37 / 63 earnings

Positive

+18.0%

Q3 2018

Best reaction

-23.5%

Q2 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026
Q3 2026-20.3%-18.1%-6.5%
Q2 2026+6.4%+11.1%+18.2%
Q1 2026+4.9%+11.7%+31.4%
Q4 2025-5.4%-12.9%-20.4%
Q3 2025+6.7%+12.0%+10.0%
Q2 2025+7.9%+10.6%+24.3%
Q1 2025-7.6%-12.3%-0.3%
Q4 2024-1.7%-1.3%+1.1%
Q3 2024+3.4%+6.3%+14.2%
Q2 2024+9.0%+5.5%+17.4%
Q1 2024+1.3%+3.9%-0.6%
Q4 2023-6.1%-4.3%-6.6%
Q3 2023-0.5%+5.6%+6.6%
Q2 2023-1.1%+3.8%+17.8%
Q1 2023+9.2%+9.9%-11.1%
Q4 2022+4.4%+5.9%-5.3%
Q3 2022+6.0%+7.2%-1.4%
Q2 2022+3.2%+13.8%+19.3%
Q1 2022+4.0%+5.6%+5.8%
Q4 2021+4.0%+5.0%+4.3%
Q3 2021+3.6%+12.1%+15.9%
Q2 2021-1.5%+10.5%+7.3%
Q1 2021+4.0%+7.2%+0.7%
Q4 2020+9.8%+1.9%-1.6%
Q3 2020+2.8%+3.1%-7.5%
Q2 2020-4.8%-3.9%-2.1%
Q1 2020+8.0%+8.1%+11.2%
Q4 2019+17.5%+13.5%+19.1%
Q3 2019-17.1%-13.9%-22.0%
Q2 2019-23.5%-22.2%-30.4%
Q1 2019+5.0%+6.8%+16.0%
Q4 2018+10.2%+19.4%+12.5%
Q3 2018+18.0%+10.9%+20.1%
Q2 2018-3.8%-5.0%-5.1%
Q1 2018+2.5%-7.1%-1.5%
Q4 2017+11.2%+11.5%+11.8%
Q3 2017+10.6%+14.3%+20.0%
Q2 2017+3.6%+4.7%+12.2%
Q1 2017-0.8%+2.6%+6.4%
Q4 2016+5.6%+4.7%-6.2%
Q3 2016+5.9%
Q2 2016+17.9%
Q1 2016-0.5%
Q4 2015+1.7%
Q3 2015-0.1%
Q2 2015+0.1%
Q1 2015-2.6%
Q4 2014+6.6%
Q3 2014+5.3%
Q2 2014-5.5%
Q1 2014+5.3%
Q4 2013+3.3%
Q3 2013+0.5%
Q2 2013-4.0%
Q1 2013-3.4%
Q4 2010+0.9%
Q3 2012-1.4%
Q3 2011-1.4%
Q2 2012-3.5%
Q4 2011-12.1%
Q2 2011-12.1%
Q1 2012-12.1%
Q1 2011-12.1%

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