Cavco Industries, Inc. Reports Earnings Results for the Third Quarter Ended December 28, 2019
January 30, 2020 at 04:18 pm EST
Share
Cavco Industries, Inc. announced earnings results for the third quarter ended December 28, 2019. For the third quarter, the company announced sales was USD 273.722 million compared to USD 233.700 million a year ago. Operating income was USD 23.011 million compared to USD 18.188 million a year ago. Net income was USD 20.898 million compared to USD 13.384 million a year ago. Basic earnings per share was USD 2.29 compared to USD 1.47 a year ago. Diluted earnings per share was USD 2.25 compared to USD 1.44 a year ago.
For the nine months, sales was USD 806.439 million compared to USD 721.633 million a year ago. Operating income was USD 70.429 million compared to USD 59.832 million a year ago. Net income was USD 63.065 million compared to USD 48.651 million a year ago. Basic earnings per share was USD 6.91 compared to USD 5.36 a year ago. Diluted earnings per share was USD 6.81 compared to USD 5.24 a year ago.
Cavco Industries, Inc. is a producer of manufactured homes in the United States. The Company designs and produces factory-built homes primarily distributed through a network of independent and Company-owned retailers, planned community operators and residential developers. 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 products 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. The Company also produces park model recreational vehicles (RVs), vacation cabins and factory-built commercial structures. CountryPlace Acceptance Corp. is its finance subsidiary and Standard Casualty Co. is its insurance subsidiary.