Company: CVCO
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047849
Chunk: 60

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 quantitative thresholds to be reported separately. The factory-built housing segment generates revenue from building and selling manufactured and modular homes to both wholesale customers and end consumers through Company owned retail stores. The Financial services segment generates revenue through lending products for manufactured home purchasers, and through writing and holding insurance policies for manufactured homes. The Company's Chief Executive Officer is the chief operating decision maker ("CODM"). The CODM assesses segment performance and allocates resources, including reinvesting profits and making acquisitions, based on Gross profit and Income before income taxes. The CODM also uses these metrics in the budgeting process when determining how to allocate resources. The CODM is not provided asset information by reportable segment. The following tables provide selected financial data by segment (dollars in thousands):Three Months Ended September 27, 2025Factory-built housingFinancial servicesConsolidatedNet revenue$535,117 $21,410 $556,527 Cost of sales412,623 9,497 422,120 Gross profit122,494 11,913 134,407 Selling, general and administrative expenses65,757 6,472 72,229 Income from operations56,737 5,441 62,178 Interest income5,046 — 5,046 Interest expense(112)— (112)Other income, net142 — 142 Income before income taxes61,813 5,441 67,254 Income tax expense(13,661)(1,212)(14,873)Net income$48,152 $4,229 $52,381 Six Months Ended September 27, 2025Factory-built housingFinancial servicesConsolidatedNet revenue$1,070,811 $42,573 $1,113,384 Cost of sales827,473 21,998 849,471 Gross profit243,338 20,575 263,913 Selling, general and administrative expenses128,911 12,466 141,377 Income from operations114,427 8,109 122,536 Interest income10,149 — 10,149 Interest expense(276)— (276)Other income, net142 — 142 Income before income taxes124,442 8,109 132,551 Income tax expense(26,789)(1,739)(28,528)Net income$97,653 $6,370 $