NASDAQ$CVCO
Cavco Industries Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Cavco's financial performance increased in Q3 2020, driven by revenue growth and improved profitability.
Cavco Industries reported a strong third quarter for fiscal year 2020, with a 17.1% increase in net revenue to $273.7 million and a 56.0% increase in net income to $20.9 million. The company benefited from improved home sales volume, the acquisition of Destiny Homes, and strong consumer demand.
- Net revenue increased by 17.1% to $273.7 million, driven by improved home sales volume and the Destiny Homes acquisition.
- Income from operations rose by 26.4% to $23.0 million, due to sales increases in factory-built housing and decreased weather-related claims in financial services.
- Net income increased significantly by 56.0% to $20.9 million, further benefited by unrealized gains on corporate equity investments and lower effective income tax rates.
- Factory-built housing shipments increased, reducing sales order backlogs to approximately 6 weeks of production, or $115 million.
Headline financials
Revenue & EPS history
Cavco · Revenue · Quarterly
$274M
Revenue by segment
Cavco · $274M total across 2 segments · Q3 2020
- Factory-built housing$257M—93.9%
- Financial services$16.6M—6.1%
Forward guidance
Cavco expects strong margins and growth in factory-built home shipments to continue, supported by strong consumer demand.
Tailwinds
- Strong margins in factory-built home shipments are expected to continue.
- Growth in factory-built home shipments is expected to continue.
- Consumer demand is strong.
- High employment levels support consumer demand.
- Growing household incomes support consumer demand.
Headwinds
- The company faces risks related to integrating acquisitions.
- Involvement in vertically integrated lines of business poses risks.
- Information technology failures or cyber incidents could negatively impact operations.
- Curtailment of available financing from home-only lenders could affect sales.
- The company faces risks from participation in wholesale and retail financing programs.
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 Q3 2020
+1.1%
Avg return
Earnings day
+3.9%
Avg return
5 days after
+5.3%
Avg return
30 days after
59%
38 / 64 earnings
Positive
+18.0%
Q3 2018
Best reaction
-23.5%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +3.4% | +11.1% | +22.3% | |
| 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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