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Posts Tagged ‘vacation cabins’

Cavco to Release Quarterly Financials Jan. 27

January 25th, 2016 Comments off

cavco-lapsiding-manufactured-homeCavco Industries, Inc. (NASDAQ:CVCO) is set to announce its earnings results for the most recent quarter on Wed., Jan. 27, 2016, with analysts expecting the company to announce $0.80 earnings per share (EPS), according to emqtv. The company last released its quarterly financials on Thurs., Oct. 29, 2015 reporting EPS of $0.89 for the quarter, beating the Zacks consensus by $0.14 EPS.

The revenue for that quarter was 37.8 percent higher than the comparable quarter of a year earlier, and beat analysts estimates by 12 percent, which in turn caused the stock to spike.

Analysts expect Cavco to report EPS of $3.05 the current fiscal year and $4.00 for the next FY.

MHProNews understands Cavco is one of the largest producers of manufactured homes in the United States, and also manufactures park model homes, vacation cabins, modular homes and systems-built commercial structures. The company offers financing and insurance to purchasers of homes. ##

(Image credit: Cavco Industries, Inc.–lapsided home)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Cavco CEO Sells Block of Company Stock

December 2nd, 2015 Comments off

Cavco-Wedge  cabin  rvdailyreport comMHProNews has learned from analystratings the CEO and president of Cavco Industries, Inc., Joseph Stegmayer, sold shares of the company for $1.86 million. The stock climbed 48.7 percent after Stegmayer’s last sell transaction on May 21, 2012.

As MHProNews reported Oct. 30, 2015 on our daily stock report, Cavco’s stock spiked +19.15 percent, +15.85 points, to close at $98.60, following the latest quarterly earnings report Sept. 30 that the company’s net income rose to $8.1 million for Q2 2016 from $5.5 million for the comparable quarter 2015.

Revenue increased from $139.3 million in Q2 2015 to $192 million for the quarter ending Q2 2016, a gain of 37.8 percent.

Cavco stock has a 52-week high of $106.55 and a 52-week low of $64.54; the market cap is $824 million, and the P/E ratio is 32.1 percent.

Blogger coverage of the company indicates there is a 100 percent bullish tendency on the stock, as compared to a 67 percent bullish tendency within the conglomerates sector.

From its headquarters in Phoenix, Arizona, Cavco designs and produces manufactured homes as well as modular homes, park models, vacation cabins and commercial structures. ##

(Photo credit: Cavco Industries, Inc.-Wedge Cabin)

matthew-silver-daily-business-news-mhpronews-comArticle submitted  by Matthew J. Silver to Daily Business News-MHProNews.

Cavco Financials show Distinguished Gain

May 22nd, 2015 Comments off

cavco-lapsiding-manufactured-homeCavco Industries, Inc. reports net revenue for the fiscal fourth quarter of 2015 was $141.2 million, an increase of 7.7 percent over the $131.2 million for the same period of 2014. For the fiscal year ending March 28, 2015, net revenue was $566.7 million, an increase of 6.2 percent over the $533.3 million for fiscal 2014.

For the fourth quarter of fiscal 2015, income before taxes rose 40 percent, from $6.5 million to $9.1 million. On the year, income before taxes rose from $27.8 in 2014 to $37.3 million for the year ending March 28, 2015.

As cnnmoney informs MHProNews, net income attributable to stockholders for the fourth quarter of fiscal 2015 was $6 million as compared to $4 million for Q4 2014. On the year, net income attributable to shareholders rose from $16.2 million year end 2014 to $23.8 million year ending March 28, 2015.

Net income per diluted share attributable to stockholders for Q4 2015 was $0.66 versus $0.47 for the same period 2014. On the year ending March 28, 2015, net income per diluted share was $2.64 versus $1.94 for the fiscal year ending March 28, 2014.

Joseph Stegmayer, Chairman, President and Chief Executive Officer said, “We are pleased to report positive results for the final quarter of this fiscal year. Although the winter quarter following the holidays typically has lower sales volume compared to the rest of the year, we experienced a more consistent rate of new home orders during this quarter than the same quarter last year. We believe this is an indication of a modestly strengthening market environment in which consumer confidence levels and employment rates have been reported as improving.

Headquartered in Phoenix, Arizona, Cavco is one of the largest producers of manufactured homes in the nation, and also manufactures park model RVs, vacation cabins and modular homes and commercial buildings. ##

(Image credit: Cavco Industries, Inc.-lapsided home)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Cavco to Release Q4 Fiscal Year Financials

May 21st, 2015 Comments off

Cavco-Wedge  cabin  rvdailyreport comCavco Industries, Inc. (Nasdaq:CVCO) will release its earnings for the fourth quarter of fiscal year 2015 on Thursday, May 21 after the close of the market, according to nasdaq. The results will be discussed the following day, Friday, May 22 2015 in a live webcast at 1 PM eastern daylight time. Listen by internet at www.cavco.com.

MHProNews understands Cavco is one of the largest producers of manufactured homes in the United States, and also manufactures park model homes, vacation cabins, modular homes and systems-built commercial structures. The company also offers financing and insurance to purchasers of homes. ##

(Photo credit: rvdailyreport-Cavco wedge cabin)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Cavco to Release Financials for Q2 2014

October 25th, 2013 Comments off

According to marketwatch.com, Cavco Industries, Inc. (CVCO) will release its financials for the second quarter of fiscal 2014 on Thurs., October 31 after the close of the market. Senior management will discuss the results in a webcast the following day, Fri., Nov. 1 at 12:00 noon EST. Interested parties may listen via the internet at www.cavco.com under the investors relations link. The call will be archived for 90 days under the same link. As MHProNews knows, Cavco is one of the largest producers of manufactured homes in the U. S., marketed under brand names including Cavco Homes, Fleetwood Homes, and Palm Harbor Homes. Cavco also manufactures park model homes, vacation cabins, systems-built commercial buildings as well as modular homes.

(Image credit: Cavco Industries, Inc.)

Cavco to Release Financials

July 26th, 2013 Comments off

Cavco Industries, Inc., will release financials for Q1 of fiscal year 2014 after the close of the market Thurs., Aug 1. 2013. The following day senior management will discuss the results in a live webcast Fri., Aug 2 at 12 noon Eastern time. Interested parties will be able to listen to the webcast at http://www.cavco.com under the investor relations link. The call will be archived for 90 days under the same link for 90 days following the webcast, according to globenewswire. MHProNews knows Cavco is one of the largest producers of manufactured homes in the country sold under the Cavco, Fleetwood Homes and Palm Harbor Homes brand names. The company also manufactures park model homes, vacation cabins and modular homes, and provides mortgages and insurance to owners of factory-built homes.

(Photo credit: Stacey Hairston/franklinnews-post–Cavco plant, Rocky Mt. Vir.))

Cavco Completes Acquisition of Fleetwood

June 14th, 2013 Comments off

Phoenix, AZ-based Cavco Industries, Inc., which owns 50 percent of Fleetwood Homes, Inc., has agreed to acquire the other 50 percent from Third Avenue Value Fund and an affiliate, according to nasdaq.com. Cavco will issue common stock to Third Avenue in consideration as per their original 2009 agreement in forming Fleetwood, which also includes Palm Harbor Homes, CountryPlace Mortgage, and Standard Casualty. Joseph Stegmayer, Cavco Chairman, President and Chief Executive Officer said, “We believe that the opportunity to obtain full ownership of these operations is attractive at this time. Although the manufactured housing industry remains challenged by overall economic conditions, we are encouraged by recent reports of improved general housing demand, consumer confidence, and unemployment levels. We have been fully responsible for operating the Fleetwood Homes business since August 2009 and the Palm Harbor Homes and related finance and insurance businesses since 2011. The opportunity to now consummate full ownership is clearly beneficial financially and will also eliminate certain administrative activities required of a joint venture.” As MHProNews knows, Cavco is the second largest producer of manufactured homes in the country, and also makes park model homes, vacation cabins and modular homes.

(Image credit: Cavco Industries, Inc.)

Cavco Announces Q1 Financials

August 3rd, 2012 Comments off

MarketWatch says Phoenix-based Cavco Industries, Inc. (CVCO: +3.63% Aug. 2) reported net sales for the first quarter of fiscal year (FY) 2013 totaled $118,781,000, representing a 20% increase over the $98,981,000 net sales for the first quarter of FY 2012. First quarter 2013 net income was $1,618,000 as compared to $20,688,000 for the same period in 2012. Included in net income for the first quarter of FY 2012 was $22,009,000 representing Cavco’s ownership percentage of the Palm Harbor transaction that occurred April 23, 2011. Commenting on the first quarter results, Vice president and Chief Financial Officer Dan Urness said, “Gross profit as a percentage of net sales increased 4.0% to 20.3% for the first quarter of fiscal 2013 versus 16.3% for the same quarter in the prior year. The increase is primarily attributable to having the full quarter benefit of the generally higher margin Palm Harbor retail and finance businesses versus a partial quarter last year, given the transaction closing date of April 23, 2011.” Cavco will hold a conference call Fri. Aug 3, 2012 at 12:00 noon eastern time to discuss these results. As MHProNews has learned, Cavco designs and produces manufactured and modular homes as well as park model homes, vacation cabins, and commercial structures, and also provides financial services to consumers. Cavco gained +0.25% on the stock market today.

(Image credit: Cavco Industries, Inc.)

Cavco to Release Financials

July 31st, 2012 Comments off

Yahoo!Finance says Cavco Industries, Inc. will release its earnings report for the first quarter of fiscal year (FY) 2013 on Thurs., Aug. 2, 2012 after the close of the market. Senior management will conduct a live webcast the following day, Fri. Aug 3, 2012 at 12:00 noon eastern time to discuss the Q1 results. The call will be archived for 90 days for those unable to participate. As MHProNews knows, Cavco is headquartered in Phoenix, Arizona, and produces manufactured and modular homes as well as park model homes, vacation cabins, and commercial structures. The company also offers mortgage and insurance services to home owners.

(Image credit: Cavco Homes)

HUD Code and MOD Stocks: Buy Now!

June 15th, 2012 Comments off

With manufactured housing increasing production nine consecutive months, as MHProNews has noted previously, smallcapnetwork says the time might be ripe to get into the manufacturing and modular housing market. Cavco Industries (NASDAQ:CVCO) reports net sales for the entire fiscal year 2012 hit $443,066,000, an increase of 156% over last year, and net income surged $4.07 million to $29.7 million. The gains are magnified by the acquisition of Palm Harbor Homes through its Fleetwood Homes subsidiary, which is half owned by Third Avenue Value Fund. The stock, up 19.7% since Jan. 1 and 34.1% over the past five years, gained 3.63% to 47.64 Thurs. Cavco produces manufactured and modular housing, park model homes and vacation cabins.
Drew Industries (NYSE:DW) provides a wide range of structural and interior components to the RV and manufactured housing industries. Sales rose 32% to 223.6 million in the first quarter 2012, producing net income of $11.1 million. In the RV division sales were up 29%, and 26% in the manufactured homes segment. On Thurs. the stock gained +0.70% to close at $27.20. The stock has gained 10.9% since Jan. 1, and is up 14.3% over the past year.

(Image credit: FotoSearch clip art)