Cavco Industries reported fiscal second‑quarter 2026 results, with revenue of $556.5 million, up 9.7% from $507.5 million a year earlier, and net income of $52.4 million, up 24% from $42.0 million.
Earnings per share were $6.55, a 24% increase from $5.28. The Factory‑Built Housing segment generated $535.1 million in revenue, while the Financial Services segment contributed $21.4 million. Gross profit margin in Financial Services rose from 21.8% to 55.6% due to lower claims and storm losses.
The company’s acquisition of American Homestar Corporation, closed on September 29 2025, for $190 million in cash, has expanded production capacity and retail reach. The acquisition has already contributed to a 5.4% increase in home sales volume and a higher average selling price, and capacity utilization climbed to 75% from 70% in the prior year.
Cavco continued its share‑repurchase program, buying back approximately $36 million of stock during the quarter, leaving $142 million under its authorization. Management reaffirmed its outlook for continued demand in the manufactured‑home market and emphasized ongoing plant modernization and digital marketing initiatives.
The results exceeded consensus expectations, reinforcing confidence in the company’s strategic initiatives and its commitment to share repurchases.
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