CVCO

EX-99.1

2 cvco-20260627xex991.htm

EX-99.1

Document

For additional information, contact:

Mark Fusler

Corporate Controller and Investor Relations

investor_relations@cavco.com

News Release Phone: 602-256-6263

On the Internet: www.cavcoindustries.com

FOR IMMEDIATE RELEASE

CAVCO INDUSTRIES REPORTS FISCAL 2027 FIRST QUARTER RESULTS

Cavco delivered record sales volume, solid earnings and an expanding backlog

PHOENIX, July 30, 2026 (GLOBE NEWSWIRE) – Cavco Industries, Inc. (Nasdaq: CVCO) ("we," "our," the "Company" or "Cavco") today announced financial results for the first fiscal quarter ended June 27, 2026.

Quarterly Highlights

•Net revenue was $610 million, up $53 million or 9.5% compared to $557 million in the first quarter of the prior year.

•Home sales volume was up 4.4% and capacity utilization remained consistent year over year at approximately 75%.

•Factory-built housing Gross profit as a percentage of Net revenue was 20.8%, compared to 22.6% in the same period in the prior year.

•Financial services Gross profit as a percentage of Net revenue was 52.4%, compared to Gross profit of 40.9% in the prior year.

•Income before income taxes was $55.8 million, down $9.5 million, or 14.6% compared to $65.3 million in the same period in the prior year.

•Net income per diluted share attributable to Cavco common stockholders was $5.43 compared to $6.42 in the prior year quarter.

•Backlogs totaled $298 million at the end of the quarter representing 7-9 weeks of production compared to $195 million at the end of the prior year.

•Stock repurchases were approximately $30 million in the quarter. At the end of the first quarter, $188 million remains available for repurchases under our previously announced Board authorizations.

Commenting on the quarter, President and Chief Executive Officer Bill Boor said, "This quarter saw the continuation of strong order momentum we saw at the end of Q4 2026. In Q1, we saw record shipments and grew our backlog by over 50%. These results don't happen with just one or two plants doing well. They are a reflection of order growth and the excellent job all of our teams have done responding to the market."

He continued, "Externally, we saw progress on the regulatory front with the passing of the bipartisan 21st Century ROAD to Housing Act. The law highlights the role factory-built homes need to play in the housing affordability crisis with major sections dedicated to Manufactured Housing. It will enable innovation, provide regulatory clarity, improve access to financing, and encourage states and local authorities to reduce zoning barriers. Importantly, we are also seeing an increasing number of states passing legislation to improve zoning access at the local level. While we continue to manage through a challenging macro-economic environment for prospective homebuyers, the future is bright for factory-built housing solutions to help more families achieve home ownership."

Financial Results

Three Months Ended

($ in thousands, except revenue per home sold)June 27, 2026June 28, 2025Change

Net revenue

Factory-built housing$585,972 $535,694 $50,278 9.4 %

Financial services23,987 21,163 2,824 13.3 %

$609,959 $556,857 $53,102 9.5 %

Factory-built modules sold9,507 8,900 607 6.8 %

Factory-built homes sold (consisting of one or more modules)5,657 5,416 241 4.4 %

Net factory-built housing revenue per home sold$103,584 $98,910 $4,674 4.7 %

•In the Factory-built housing segment, the increase in Net revenue was due to higher home sales volume as a result of the American Homestar acquisition in the third quarter of the prior year and an increase in Net revenue per home sold.

•Financial services segment Net revenue increased primarily due to increased loan sales in the mortgage division and unrealized gains on the Financial services equity portfolio.

Three Months Ended

($ in thousands)June 27, 2026June 28, 2025Change

Gross profit

Factory-built housing$122,019 $120,845 $1,174 1.0 %

Financial services12,571 8,661 3,910 45.1 %

$134,590 $129,506 $5,084 3.9 %

Gross profit as % of Net revenue

Consolidated22.1 %23.3 %N/A(1.2)%

Factory-built housing20.8 %22.6 %N/A(1.8)%

Financial services52.4 %40.9 %N/A11.5 %

Selling, general and administrative expenses

Factory-built housing$73,970 $63,154 $10,816 17.1 %

Financial services7,865 5,994 1,871 31.2 %

$81,835 $69,148 $12,687 18.3 %

Income from operations

Factory-built housing$48,049 $57,691 $(9,642)(16.7)%

Financial services4,706 2,667 2,039 76.5 %

$52,755 $60,358 $(7,603)(12.6)%

•In the factory-built housing segment, Gross profit increased due to an increase in home sales volume and price, partially offset by higher input costs. Selling, general and administrative expenses were higher due to the addition of American Homestar, and to a lesser extent, increases in compensation and employee related expenses, as well as sales and marketing expenses.

•In the financial services segment, Gross profit and Income from operations in

EX-99.1

2 cvco-2026328xex991.htm

EX-99.1

Document

For additional information, contact:

Mark Fusler

Corporate Controller and Investor Relations

investor_relations@cavco.com

News Release Phone: 602-256-6263

On the Internet: www.cavcoindustries.com

FOR IMMEDIATE RELEASE

CAVCO INDUSTRIES REPORTS FISCAL 2026 FOURTH QUARTER AND YEAR END RESULTS

Cavco finishes fiscal year with record number of homes sold

PHOENIX, May 21, 2026 (GLOBE NEWSWIRE) – Cavco Industries, Inc. (Nasdaq: CVCO) today announced 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-built housing 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.

•Backlogs at March 28, 2026 were $195 million, down from $197 million at March 29, 2025.

•Stock repurchases were approximately $160 million in the year.

•On May 18, 2026, the Company's Board of Directors approved an additional $150 million stock repurchase program.

Commenting on the results, Bill Boor, President and Chief Executive Officer, said, "Cavco made a lot of progress across many fronts in fiscal year 2026. 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. We also joined forces with American Homestar which is exceeding expectations for tangible synergies and operating performance. Finally, as announced yesterday, in Q4 we broke ground on a new, state-of the art production facility in El Mirage, Arizona. 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."

He continued, “Wholesale orders in the fourth quarter were up significantly from both the third quarter of this year and the fourth quarter of last year, with the bulk of that pick-up and the accompanying backlog increase happening in March. Additionally, both our insurance and lending operations posted strong results in the quarter. Despite an environment that has not materially improved and remains uncertain, we continued to perform well and invest in the future.”

Three months ended March 28, 2026 compared to three months ended March 29, 2025

Three Months Ended

($ in thousands, except revenue per home sold)March 28, 2026March 29, 2025Change

Net revenue

Factory-built housing$528,048 $487,860 $40,188 8.2 %

Financial services22,079 20,498 1,581 7.7 %

$550,127 $508,358 $41,769 8.2 %

Factory-built modules sold8,328 8,260 68 0.8 %

Factory-built homes sold (consisting of one or more modules)5,027 5,060 (33)(0.7)%

Net factory-built housing revenue per home sold$105,042 $96,415 $8,627 8.9 %

•In the factory-built housing segment, the increase in Net revenue was caused by higher average selling price per home sold primarily caused by a higher percentage of sales through Company-owned stores and product mix.

•Financial services segment Net revenue increased primarily due to more loan sales in the current period after securing a long term agreement to sell loans to a third party investor. Additionally, to a lesser extent, the addition of the American Homestar financial services operation also contributed to net revenue.

Three Months Ended

($ in thousands)March 28, 2026March 29, 2025Change

Gross profit

Factory-built housing$111,737 $108,573 $3,164 2.9 %

Financial services15,316 7,544 7,772 103.0 %

$127,053 $116,117 $10,936 9.4 %

Gross profit as % of Net revenue

Consolidated23.1 %22.8 %N/A0.3 %

Factory-built housing21.2 %22.3 %N/A(1.1)%

Financial services69.4 %36.8 %N/A32.6 %

Selling, general and administrative expenses

Factory-built housing$68,008 $71,458 $(3,450)(4.8)%

Financial services7,572 6,029 1,543 25.6 %

$75,580 $77,487 $(1,907)(2.5)%

Income from operations

Factory-built housing$43,729 $37,115 $6,614 17.8 %

Financial services7,744 1,515 6,229 411.2 %

$51,473 $38,630 $12,843 33.2 %

•In the factory-built housing segment, Gross profit increased from higher average selling price per home sold, partially offset by higher input costs and lower home sales. Selling, general and administrative expenses decreased compared to the prior year period primarily due to a $10 million non‑cash charge related to adjustment of certain legacy brand intangibles i

cvco-20260129False000027816600002781662025-12-272025-12-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 29, 2026

CAVCO INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

Delaware000-0882256-2405642 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

3636 North Central Avenue, Suite 1200 Phoenix Arizona 85012

(Address of principal executive offices, including zip code)

Registrant's telephone number, including area code: (602) 256-6263 Not applicable (Former name or former address, if changed from last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered Common Stock, par value $0.01CVCOThe Nasdaq Stock Market LLC (Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.    Results of Operations and Financial Condition

On January 29, 2026, Cavco Industries, Inc., a Delaware corporation (the "Company"), announced financial results for its fiscal third quarter ended December 27, 2025. A copy of the Company’s press release announcing these financial results is attached as Exhibit 99.1 hereto and incorporated in this Item 2.02 by reference.

Item 9.01.    Financial Statements and Exhibits

Exhibit NumberDescription 99.1 Press Release dated January 29, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CAVCO INDUSTRIES, INC.

By:/s/ Allison K. Aden Allison K. Aden Executive Vice President, Chief Financial Officer & Treasurer

Date:January 29, 2026