CAVCO INDUSTRIES Reports Fourth Quarter Fiscal Year 2023 Earnings Results on May 18 2023

🌥️Earnings Overview

On May 18 2023, CAVCO INDUSTRIES ($NASDAQ:CVCO) released its fourth quarter fiscal year 2023 earnings results, for the period ending March 31 2023, indicating a year-over-year decrease in total revenue of 5.8% to USD 476.4 million and in net income of 11.8% to USD 47.3 million.

Share Price

At the opening bell, the stock price opened at $292.9 and ended the day at $293.4 per share. Despite these positive results, the company’s stock prices remained relatively flat, indicating that investors felt the improvements were not enough to drive higher share prices. The company has operations located across the United States, Canada, Mexico, and Europe. Its key markets include recreational vehicles, factory-built homes, and commercial and industrial buildings.

The company has been growing steadily over the past several years by investing in research and development, expanding its market reach, and introducing new products. The company is well-positioned to capitalize on future opportunities and is well-prepared for whatever the market may bring in the coming quarters. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Cavco Industries. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Cavco Industries. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Cavco Industries. More…

Key Ratios Snapshot

Some of the financial key ratios for Cavco Industries are shown below. More…

Analysis

At GoodWhale, we have conducted an analysis of CAVCO INDUSTRIES‘ wellbeing. Our Star Chart revealed that while the company is strong in asset, growth, and profitability, it is weak in dividend. We classified CAVCO INDUSTRIES as a ‘gorilla’, which is a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Since CAVCO INDUSTRIES holds these traits of strength, it may be interesting to investors who are looking for strong and profitable companies. Furthermore, the health score of 10/10 with regards to its cashflows and debt ensures it is capable of sustaining future operations in times of crises. 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

Investors in Cavco Industries may be disappointed with the company’s fourth quarter earnings results, which showed a decrease in total revenue of 5.8% to USD 476.4 million and a decrease in net income of 11.8% to USD 47.3 million year over year. The company’s performance is likely to be watched closely by investors, as it may provide insight into how the company is performing in a competitive industry environment. Moving forward, investors may want to consider the company’s long-term outlook and strategies for growth, as well as its ability to remain competitive in a challenging market.