Company: CVCO
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047849
Chunk: 36

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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loss)$44,806 $(991)$43,815 Six Months Ended September 28, 2024Factory-built housingFinancial servicesConsolidatedNet revenue$944,391 $40,669 $985,060 Cost of sales729,361 36,175 765,536 Gross profit215,030 4,494 219,524 Selling, general and administrative expenses121,160 10,688 131,848 Income (loss) from operations93,870 (6,194)87,676 Interest income11,203 — 11,203 Interest expense(215)— (215)Other income, net147 — 147 Income (loss) before income taxes105,005 (6,194)98,811 Income tax (expense) benefit(21,755)1,188 (20,567)Net income (loss)$83,250 $(5,006)$78,244 Three Months Ended September 28, 2024Factory-built housingFinancial servicesConsolidatedDepreciation$4,312 $63 $4,375 Amortization$378 $7 $385 Capital expenditures$4,878 $27 $4,905 Six Months Ended September 28, 2024Factory-built housingFinancial servicesConsolidatedDepreciation$8,616 $128 $8,744 Amortization$764 $13 $777 Capital expenditures$9,729 $90 $9,819 

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 September 27,2025March 29,2025Total assets:Factory-built housing$1,210,524 $1,191,216 Financial services238,545 215,429 Consolidated$1,449,069 $1,406,645 

19. Subsequent Events

As announced on September 30, 2025 in a current report on Form 8-K, we completed the acquisition of  American Homestar Corporation and other related entities (collectively "American Homestar"), including their two manufacturing facilities, nineteen retail locations and financial service operations. The addition of American Homestar to our existing manufacturing and retail system strengthens our position in the South Central U.S.. The purchase price totaled $190 million, before certain customary adjustments, and was funded with cash on hand. 

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Item 2. Management's Discussion and Analysis of Financial