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Cavco Industries (CVCO) investor relations material
Cavco Industries Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary31 Oct, 2025
Executive summary
Net revenue for Q2 FY26 was $556.5 million, up 9.7% year-over-year, driven by higher home sales volume and increased revenue per home sold.
Net income for the quarter was $52.4 million, a 19.6% increase from $43.8 million in the prior year period.
Diluted EPS for the quarter was $6.55, up from $5.28 a year ago, reflecting strong performance in both factory-built housing and financial services.
Completed the $190 million acquisition of American Homestar after the quarter, expanding manufacturing and retail presence in the South Central U.S.
Strong performance across all operations, with double-digit shipment growth in the northern U.S. and a slowdown in the Southeast.
Financial highlights
Factory-built housing segment revenue rose 10% to $535.1 million, driven by a 5.4% increase in homes sold and a 4.4% increase in average revenue per home.
Financial services segment revenue was $21.4 million, up 1.4% year-over-year; gross profit surged 158.9% due to higher insurance premiums and lower claim losses.
Consolidated gross profit margin was 24.2%, up 130 bps year-over-year; gross profit increased to $134.4 million.
Operating income for the quarter was $62.2 million, up from $49.1 million year-over-year.
Cash and cash equivalents at quarter-end were $375 million, up from $356.2 million at the start of the fiscal year.
Outlook and guidance
Market remains balanced, with strong conditions in the North and stable but slower Southeast; industry home shipments increased 3.2% year-to-date.
Backlog at quarter-end was $210 million, up from $197 million at the start of the year but down from $276 million a year ago.
Management expects continued growth opportunities from the American Homestar acquisition and ongoing investments in home-only lending programs.
Tariff and input cost pressures are being monitored, with the ability to pass costs through dependent on local market conditions.
Forward-looking statements caution about risks including demand, financing, labor, raw materials, and regulatory compliance.
Is financial services profit margin sustainable?
Outlook for factory capacity utilization?
When will American Homestar impact financials?
Quantify new Canadian lumber tariff impact?
Homestar acquisition's strategic impact?
Financial services profit sustainability?
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Next Cavco Industries earnings date
Q3 202630 Jan, 2026
Next Cavco Industries earnings date
Q3 202630 Jan, 2026
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Frequently asked questions
Cavco Industries Inc designs and manufactures factory-built homes, including manufactured homes, modular homes, park model RVs, and commercial structures. The company markets its homes through independent and company-owned retailers, builders, and developers. It also provides related services such as insurance and consumer finance. Cavco Industries Inc serves markets across the United States. The company is headquartered in Phoenix, Arizona, and its shares are listed on the NASDAQ.
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