Cavco Industries, Inc. Reports Earnings Results for the First Quarter Ended July 3, 2021
August 05, 2021 at 04:05 pm EDT
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Cavco Industries, Inc. announced earnings results for the first quarter ended July 3, 2021. For the first quarter, the company announced sales was USD 330.422 million compared to USD 254.801 million a year ago. Operating income was USD 33.181 million compared to USD 20.000 million a year ago. Net income was USD 27.046 million compared to USD 16.674 million a year ago. Basic earnings per share from continuing operations was USD 2.94 compared to USD 1.82 a year ago. Diluted earnings per share from continuing operations was USD 2.92 compared to USD 1.8 a year ago.
Cavco Industries, Inc. designs and produces factory-built homes. Its segments include Factory-built Housing and Financial Services. The Factory-built Housing segment includes wholesale and retail factory-built housing operations. The Financial Services segment includes manufactured housing consumer finance and insurance. Its factory-built homes are distributed through a network of independent and Company-owned retailers, planned community operators and residential developers. Its manufactured homes are marketed under a variety of brand names, including Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry and Solitaire. It is also a producer of park model recreational vehicle (RVs), vacation cabins and factory-built commercial structures, as well as modular homes. CountryPlace Acceptance Corp. is its finance subsidiary and Standard Casualty Co. (Standard Casualty) is its insurance subsidiary.