Cavco Industries Q4 Earnings Surpass Street View

by Shivani Kumaresan, Benzinga Staff Writer

May 27, 2022 6:33 AM | 1 min read |

Cavco Industries Inc CVCO reported fourth-quarter FY22 revenue growth of 64.9% year-over-year to $505.48 million, beating the consensus of $435.50 million.
The gross profit jumped 82.9% Y/Y to $129.6 million, with the margin contracting 250 basis points to 25.6%.
Selling, general and administrative expenses rose 35.9% to $59.7 million.
The operating margin was 13.8%, and operating income for the quarter increased 159.6% to $69.8 million.
The company held $279 million in cash and equivalents as of April 2, 2022.
EPS of $5.80 beat the analyst consensus of $4.81.
CVCO's Board of Directors approved a new $100 million stock repurchase program.
Price Action: CVCO shares closed higher by 3.21% at $216.60 on Thursday.