Cavco Industries, a designer and producer of park model RVs, vacation cabins and factory-built commercial structures, reported increased revenue and earnings for the fourth quarter and full fiscal year ended March 28, while posting “a record number of homes sold during the year.”
The company reported fourth-quarter net revenue of $550 million, an 8% increase from $508 million in the same quarter a year earlier.
Net income totaled $42 million, while diluted earnings per share rose to $5.42 from $4.47 in the prior-year quarter.
Gross profit as a percentage of net revenue increased 30 basis points to 23.1% during the quarter. Factory-built housing gross profit margin, however, declined 110 basis points to 21.2%.
Diluted earnings per share for the year increased to $23.98 from $20.71 in the prior fiscal year. Factory-built housing gross profit margin for the year was 22.1%, compared with 22.9% last year.
Backlogs at March 28, 2026, totaled $195 million, compared with $197 million at March 29, 2025.
The company also repurchased approximately $160 million in stock during the fiscal year. On May 18, Cavco’s board of directors approved an additional $150 million stock repurchase program.
According to a press release, Bill Boor, president and chief executive officer of Cavco Industries, said the company advanced several operational initiatives during the fiscal year while expanding production capacity.
“In addition to continuing a progression of digital marketing, branding and product line transformations, all aimed at improving the customer and retailer experience, we sold a record number of homes,” Boor said.
Boor also cited the company’s acquisition of American Homestar and the start of construction on a new production facility in El Mirage, Arizona, during the fourth quarter.
“This expansion reflects our consistent capital allocation approach focused on the long-term need for factory-built solutions to the worsening housing crisis in America,” Boor said.
According to Boor, wholesale orders in the fourth quarter increased significantly compared with both the third quarter of fiscal 2026 and the same quarter last year, with most of the increase occurring in March.
He added that the company’s insurance and lending operations also delivered strong quarterly results despite continued economic uncertainty.
Cavco Industries, headquartered in Phoenix, designs and produces factory-built housing products distributed through independent and company-owned retailers.
The company also produces park model RVs, vacation cabins, and factory-built commercial structures.