NASDAQ$CVCO
Cavco Industries Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Cavco Industries' financial performance increased slightly due to revenue growth and managed expenses.
Cavco Industries reported a 5.5% increase in net revenue to $288.8 million for the third quarter of fiscal year 2021. Net income decreased by 5.7% to $19.7 million, with diluted net income per share at $2.12. The factory-built housing segment saw revenue increase, offset by lower home sales volume, while the financial services segment also experienced revenue growth.
- Net revenue increased by 5.5% to $288.8 million compared to the same quarter last year.
- Factory-built housing segment revenue increased by 5.3%, driven by higher home selling prices.
- Financial services segment revenue increased by 8.4%, primarily due to unrealized gains on marketable equity investments.
- Order backlogs increased by 310% to $472 million due to strong sales order activity.
Headline financials
Revenue & EPS history
Cavco · Revenue · Quarterly
$289M
Revenue by segment
Cavco · $289M total across 2 segments · Q3 2021
- Factory-built housing$271M+5.3%93.8%
- Financial services$18M+8.0%6.2%
Forward guidance
The company is experiencing extraordinary demand for its products and is focused on increasing production to meet the rising order backlogs.
Tailwinds
- Pent-up demand driven by favorable demographics and housing supply shortage.
- Historically low home-loan interest rates.
- Plants are increasing production under challenging conditions.
- Utilization rate rose to approximately 75% during the third fiscal quarter from 65% in the second fiscal quarter.
- People across Cavco are focused on making a difference for homebuyers.
Headwinds
- Operational efficiencies declined due to managing higher and largely unpredictable factory employee absenteeism.
- Hiring challenges.
- Building material supply shortages.
- Increased orders outpaced the challenging production environment during the quarter.
- None
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 2021
+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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