Earnings Releases·Oct 29, 2026, 4:57 PM ET

Cavco Industries — Fiscal 2027 Second Quarter Earnings Summary

Net revenue for the quarter rose 17.9% year-over-year to $656.4 million, driven by a 15.3% increase in home sales volume, while diluted net income per share increased 9% to $7.17.
Consolidated gross profit margin declined to 22.5% from 24.2% in the prior year period, primarily due to a drop in factory-built housing margins to 21.1%, partially offset by a rise in financial services margins to 60.2%.
Backlog grew $50 million sequentially to $348 million (8-10 weeks of production), supported by new data center workforce housing orders and the contribution from the American Homestar acquisition.
Management noted materials inflation remains a challenge but highlighted that selling price increases exceeded cost pressures in Q2, resulting in a small sequential gross margin improvement.
Capital return activity included $30 million in stock repurchases during the quarter, with $158 million remaining available under existing Board authorizations.