卡寇工业 2025年度报告

Cavco finishes fiscal year with record number of homes sold PHOENIX, May 21, 2026 (GLOBE NEWSWIRE) – Cavco Industries, Inc. (Nasdaq: CVCO) todayannounced financial results for the fourth quarter and fiscal year ended March 28, 2026. Quarterly Highlights •Net revenue of $550 million up 8% from $508 million in the prior year quarter.•Gross profit as a percentage of Net revenue was 23.1%, up 30 basis points ("bps"), with factory-builthousing Gross profit as a percentage of Net revenue at 21.2%, down 110 bps.•Net income was $42 million. Net income per diluted share was $5.42 compared to $4.47. Full Fiscal Year Highlights •Net revenue was $2,245 million, up $230 million or 11.4% compared to $2,015 million last year.•Factory-built housing Gross profit as a percentage of Net revenue was 22.1%, compared to 22.9%. •Income before income taxes was $245 million, up $34 million or 15.9% compared to $211 million.•Net income per diluted share was $23.98 compared to $20.71. Commenting on the results, Bill Boor, President and Chief Executive Officer, said, "Cavco made a lot ofprogress across many fronts in fiscal year 2026. In addition to continuing a progression of digitalmarketing, branding and product line transformations, all aimed at improving the customer and retailerexperience, we sold a record number of homes. We also joined forces with American Homestar which isexceeding expectations for tangible synergies and operating performance. Finally, as announced He continued, “Wholesale orders in the fourth quarter were up significantly from both the third quarter ofthis year and the fourth quarter of last year, with the bulk of that pick-up and the accompanying backlogincrease happening in March. Additionally, both our insurance and lending operations posted strong •Financial services segment Net revenue increased primarily due to more loan sales in the currentperiod after securing a long term agreement to sell loans to a third party investor. Additionally, to a •In the factory-built housing segment, Gross profit increased from higher average selling price perhomesold,partially offset by higher input costs and lower home sales.Selling,general andadministrative expenses decreased compared to the prior year period primarily due to a $10 millionnon-cash charge related to adjustment of certain legacy brand intangibles in the fourth quarter of fiscal2025, which impacted Diluted net income per share by $0.93. Excluding the impact of that charge, •In the financial services segment, Gross profit increased primarily due to higher premiums and lowerclaims losses on insurance policies, as well as an increase in loans sold. The claims loss reductionresulted from both policy underwriting improvements and a reduction due to severe weather events in •In the factory-built housing segment, the year-over-year increase in Net revenue was primarily due tohigher average selling prices and home sales volume. The current year period includes six months of •Financial services segment Net revenue increased year-over-year primarily due to higher insurancepremiums in the current year compared to the prior year, partially offset by fewer policies in force. •In the factory-built housing segment, Gross profit increased from higher average selling price andvolume driven partially by current year including six months of American Homestar activity, partiallyoffset by higher input costs. Selling, general and administrative expenses increased as a result ofhigher incentive compensation on higher sales, the inclusion of Selling, general and administrative •In the financial services segment, Gross profit increased primarily due to the insurance division havinghigher premiums and lower claims losses. The claims loss reduction resulted from policy underwriting Conference Call Details Cavco's management will hold a conference call to review these results tomorrow, May 22, 2026 at1:00 p.m. (Eastern Time). Interested parties can access a live webcast of the conference call on theInternet at https://investor.cavco.com or via telephone. To participate by phone, please register at here to About Cavco Cavco Industries, Inc., headquartered in Phoenix, Arizona, designs and produces factory-built housingproducts primarily distributed through a network of independent and Company-owned retailers. We areone of the largest producers of manufactured and modular homes in the United States, based on reportedwholesale shipments. We are also a leading producer of park model RVs, vacation cabins and factory-builtcommercial structures. Cavco's finance subsidiary, CountryPlace Mortgage, is an approved Fannie Mae Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private SecuritiesLitigation Reform Act of 1995. Forward-looking statements include all statements that are not historicalfacts. These forward-looking statements reflect Cavco's current expectations and projections with respectto our expected futu