Cavco Industries, Inc. Reports Earnings Results for the Third Quarter Ended December 26, 2020
January 28, 2021 at 09:16 pm
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Cavco Industries, Inc. announced earnings results for the third quarter ended December 26, 2020. For the third quarter, the company announced sales was USD 288.772 million compared to USD 273.722 million a year ago. Operating income was USD 23.824 million compared to USD 23.011 million a year ago. Net income was USD 19.701 million compared to USD 20.898 million a year ago. Basic earnings per share from continuing operations was USD 2.14 compared to USD 2.29 a year ago. Diluted earnings per share from continuing operations was USD 2.12 compared to USD 2.25 a year ago. For the nine months, sales was USD 801.549 million compared to USD 806.439 million a year ago. Operating income was USD 61.912 million compared to USD 70.429 million a year ago. Net income was USD 51.424 million compared to USD 63.065 million a year ago. Basic earnings per share from continuing operations was USD 5.6 compared to USD 6.91 a year ago. Diluted earnings per share from continuing operations was USD 5.54 compared to USD 6.81 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.