Cavco Industries, Inc. released its financial results for the fourth quarter and full fiscal year ended March 29, 2025. The company reported a net income of $36.3 million, or $4.47 per diluted share, for the fourth quarter. Consolidated net revenue for the fourth quarter increased by 21% year-over-year.
For the full fiscal year 2025, Cavco achieved 12.3% revenue growth, 8.4% net income growth, and 12.7% diluted earnings per share growth. The company shipped a record 16,753 units in FY25, demonstrating growth built into the system. Cavco maintained a debt-free balance sheet with a $356 million cash balance at year-end.
During FY25, Cavco returned $150 million to shareholders through share repurchases, bringing cumulative repurchases to 15.5% of outstanding shares since fiscal 2021. The company also noted a $10.0 million non-cash charge in Q4 related to the brand unification initiative, which involved consolidating 31 manufacturing facilities under the Cavco name.
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