CAVCO INDUSTRIES Reports Fourth Quarter Earnings Results for FY2023
June 25, 2023
🌥️Earnings Overview
On May 18, 2023, CAVCO INDUSTRIES ($NASDAQ:CVCO) released their earnings results for the fourth quarter of the fiscal year ending March 31, 2023. Total revenue amounted to USD 476.4 million, a drop of 5.8% compared to the same quarter last year. Net income for the quarter was USD 47.3 million, which was 11.8% lower than the same quarter in the previous year.
Share Price
The stock opened at $292.9 and closed at $293.4, indicating a slight gain in the day’s trading. This increase was mainly attributed to the increased efficiency of operations. The company’s cost-management efforts and increased efficiency of operations helped to offset the decrease in revenue due to the pandemic. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cavco Industries. More…
| Total Revenues | Net Income | Net Margin |
| 2.14k | 240.55 | 11.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cavco Industries. More…
| Operations | Investing | Financing |
| 255.69 | -129.34 | -102.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cavco Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.31k | 330.47 | 112.67 |
Key Ratios Snapshot
Some of the financial key ratios for Cavco Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 26.4% | 51.7% | 14.4% |
| FCF Margin | ROE | ROA |
| 9.9% | 19.9% | 14.7% |
Analysis
At GoodWhale, we recently conducted an analysis of CAVCO INDUSTRIES‘s wellbeing. Our findings indicate that, based on our Risk Rating system, CAVCO INDUSTRIES is a medium risk investment from both financial and business perspectives. We also detected two risk warnings in the income sheet that may be of concern to potential investors. If you’re interested in learning more about these warnings, please register with us and we’ll provide you with more details. We believe in providing investors with as much information possible so that they can make educated decisions. We understand the importance of making the right investments, and we’re here to help. More…
Peers
The company has a long history of competition with other leading companies in the industry, including Skyline Champion Corp, Century Communities Inc, and Tama Home Co Ltd. Cavco has a reputation for innovation and quality, and is always looking for ways to improve its products and services. The company is committed to providing its customers with the best possible value, and its competitive prices and superior quality have helped it to become one of the most successful companies in the industry.
– Skyline Champion Corp ($NYSE:SKY)
Skyline Champion Corp is a leading manufacturer of modular homes, mobile homes, and RV park model homes in North America. The company has a market cap of 2.69B as of 2022 and a Return on Equity of 34.19%. Skyline Champion Corp is a publicly traded company on the New York Stock Exchange (NYSE) under the ticker symbol SKY.
– Century Communities Inc ($NYSE:CCS)
Century Communities, Inc. engages in the development, design, construction, marketing, and sale of residential single-family attached and detached homes in metropolitan areas in Colorado, Texas, Arizona, Nevada, Georgia, North Carolina, and Washington. As of December 31, 2020, the company owned and controlled approximately 25,700 lots. It sells its homes through its sales associates, as well as through independent real estate brokers. The company was founded in 2013 and is headquartered in Greenwood Village, Colorado.
– Tama Home Co Ltd ($TSE:1419)
Tama Home Co Ltd is a Japanese home goods company with a market cap of 66.87B as of 2022. The company has a Return on Equity of 26.04%. Tama Home Co Ltd designs, manufactures, and sells home goods, including furniture, kitchenware, and bathroom fixtures. The company operates in Japan, China, and the United States.
Summary
CAVCO Industries has reported its fourth quarter results for FY2023 with total revenue of USD 476.4 million, and a net income of USD 47.3 million. This marks a decrease of 5.8% and 11.8%, respectively, from the same period last year. Investors should note the declines in both top line and bottom line figures, as well as monitor the progress of the company’s strategic initiatives to mitigate further losses. Additionally, they should assess the industry environment and the competitive landscape to gain insight into the company’s future performance.
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