The EPS beat and $150M buyback authorization provide near-term support, but factory-built housing margin compression and declining unit volume warrant caution. Watch the spring selling season for demand recovery and monitor integration of American Homestar for margin stabilization.
Price Chart
Executive Summary
Cavco Industries reported fiscal Q4 2026 results with net revenue of $550M (+8% YoY) and diluted EPS of $5.42, beating consensus of $5.30 by 2.3%. Full-year revenue grew 11.4% to $2,245M with record homes sold, and the Board approved a new $150M stock repurchase program. However, factory-built housing gross margins contracted 110 bps to 21.2%, and home sales volume declined 0.7% in the quarter, signaling mixed operational quality.
Key Financial Metrics
Key Facts
- Q4 net revenue $550M, up 8.2% YoY from $508M
- Diluted EPS $5.42 vs consensus $5.30 (2.3% beat)
- Full-year revenue $2,245M, up 11.4% YoY; record 20,842 homes sold
- Factory-built housing gross margin fell 110 bps to 21.2%
- Home sales volume declined 0.7% (5,027 vs 5,060 units)
- Financial services gross profit surged 103% to $15.3M
- Board approved new $150M stock repurchase program
- Backlogs $195M, down from $197M at prior year-end
- Stock repurchases totaled ~$160M in fiscal year
Financial Impact
Q4 EPS beat by $0.12 (2.3%) on revenue beat of ~$21M vs consensus; full-year EPS grew 15.8% to $23.98
Risk Factors
- Factory-built housing gross margin contraction (21.2% vs 22.3% prior year)
- Home sales volume decline of 0.7% in Q4
- Industry HUD shipments slowed in prior quarter; uncertain spring selling season
- Integration costs and deal costs from American Homestar acquisition
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-037575 |
| Document: cvco-20260521.htm | 0001628280-26-037575 |
| Document: 0001628280-26-037575-index-headers.html | 0001628280-26-037575 |
| Document: 0001628280-26-037575-index.html | 0001628280-26-037575 |
| Document: 0001628280-26-037575.txt | 0001628280-26-037575 |
| 8-K Data (Synthetic) | 0001628280-26-037575 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Press Release | $534.25 | awaiting T+60 | — | $531.53 (−0.51%) |
Jul 23, 2026 13w ago | Press Release | $569.77 $510.97 | ▼ −10.32% | ▼ −14.05% | $531.53 (−6.71%) |
Jun 16, 2026 18w ago | DEFA14A | $604.47 $523.35 | ▼ −13.42% | ▼ −14.42% | $531.53 (−12.07%) |
Jun 15, 2026 19w ago | Insider Cluster | $604.47 $523.35 | ▼ −13.42% | ▼ −14.42% | $531.53 (−12.07%) |
Jun 1, 2026 21w ago | Insider Cluster | $545.93 $577.37 | ▲ +5.76% | ▲ +4.64% | $531.53 (−2.64%) |
May 27, 2026 21w ago | Insider Cluster | $538.44 $582.55 | ▲ +8.19% | ▲ +6.46% | $531.53 (−1.28%) |
May 22, 2026 22w ago | 8-K | $509.17 $584.77 | ▲ +14.85% | ▲ +11.66% | $531.53 (+4.39%) |
May 21, 2026 22w ago | Press Release | $509.17 $584.77 | ▲ +14.85% | ▲ +11.66% | $531.53 (+4.39%) |
May 14, 2026 23w ago | Press Release | $455.76 $594.18 | ▲ +30.37% | ▲ +25.86% | $531.53 (+16.62%) |
US Market Status
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