Company: CVCO
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0000278166-25-000007
Chunk: 22

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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420 and 1,069,235 shares, respectively(391,128)(274,693)Additional paid-in capital286,573 281,216 Retained earnings1,161,833 1,027,127 Accumulated other comprehensive loss(147)(333)Total stockholders' equity1,057,225 1,033,411 Total liabilities and stockholders' equity$1,385,767 $1,354,160 See accompanying Notes to Consolidated Financial Statements

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Table of Contents

CAVCO INDUSTRIES, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Dollars in thousands, except per share amounts)

(Unaudited)

Three Months EndedNine Months EndedDecember 28,2024December 30,2023December 28,2024December 30,2023Net revenue$522,040 $446,769 $1,507,100 $1,374,674 Cost of sales392,090 343,718 1,157,626 1,046,787 Gross profit129,950 103,051 349,474 327,887 Selling, general and administrative expenses65,980 63,312 197,828 186,498 Income from operations63,970 39,739 151,646 141,389 Interest income5,353 5,234 16,556 15,664 Interest expense(155)(842)(370)(1,365)Other income (expense), net168 (224)315 557 Income before income taxes69,336 43,907 168,147 156,245 Income tax expense(12,874)(7,920)(33,441)(32,274)Net income56,462 35,987 134,706 123,971 Less: net income attributable to redeemable noncontrolling interest— — — 88 Net income attributable to Cavco common stockholders$56,462 $35,987 $134,706 $123,883 Comprehensive incomeNet income$56,462 $35,987 $134,706 $123,971 Reclassification adjustment for securities sold (97)293 174 299 Applicable income tax benefit (expense)20 (62)(37)(63)Net change in unrealized position of investments held8 13