Company: CVCO
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047849
Chunk: 6

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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,440 $4,317 7.0 %Financial services6,472 5,557 915 16.5 %$72,229 $66,997 $5,232 7.8 %Selling, general and administrative expenses as % of Net revenue13.0 %13.2 %N/A(0.2)% Six Months Ended($ in thousands)September 27,2025September 28,2024ChangeFactory-built housing$128,911 $121,160 $7,751 6.4 %Financial services12,466 10,688 1,778 16.6 %$141,377 $131,848 $9,529 7.2 %Selling, general and administrative expenses as % of Net revenue12.7 %13.4 %N/A(0.7)%

Factory-built housing Selling, general and administrative expenses increased for the three and six months ended September 27, 2025 as a result of variable compensation driven by higher incentive compensation due to higher earnings compared to the prior year periods. 

Financial services Selling, general and administrative expenses for the three and six months ended September 27, 2025 increased primarily due to increases in compensation year over year. 

24

Other Components of Net Income

Three Months Ended($ in thousands)September 27,2025September 28,2024ChangeInterest income$5,046 $5,692 $(646)(11.3)%Interest expense(112)(125)(13)(10.4)%Other income, net142 258 (116)45.0 %Income tax expense(14,873)(11,135)3,738 33.6 %Effective tax rate22.1 %20.3 %N/A1.8 % Six Months Ended($ in thousands)September 27,2025September 28,2024ChangeInterest income$10,149 $11,203 $(1,054)(9.4)%Interest expense(276)(215)61 28.4 %Other income, net142 147 (5)3.4 %Income tax expense(28,528)(20,567)7,961 38.7 %Effective tax rate21.5 %20.8 %N/A0.7 %

Interest income consists primarily of interest earned on cash balances held