Company: CVCO
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0000278166-25-000007
Chunk: 69

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 supply chain and Company performance and operations, maintaining an appropriately sized and well-trained workforce is key to meeting demand. We continually review the wage rates of our production employees and have established other monetary incentive and benefit programs, with a goal of providing competitive compensation. We are also working to more extensively use web-based recruiting tools, update our recruitment brochures and improve the appearance and appeal of our manufacturing facilities to improve the recruitment and retention of qualified production employees and reduce annualized turnover rates.

19

Results of Operations

Net Revenue

Three Months Ended($ in thousands, except revenue per home sold)December 28,2024December 30,2023ChangeFactory-built housing$500,860 $426,939 $73,921 17.3 %Financial services21,180 19,830 1,350 6.8 %$522,040 $446,769 $75,271 16.8 %Factory-built homes soldby Company-owned retail sales centers1,075 1,026 494.8 %to independent retailers, builders, communities and developers3,984 3,134 850 27.1 %5,059 4,160 899 21.6 %Net factory-built housing revenue per home sold$99,004 $102,630 $(3,626)(3.5)% Nine Months Ended ($ in thousands, except revenue per home sold)December 28,2024December 30,2023ChangeFactory-built housing$1,445,251 $1,318,114 $127,137 9.6 %Financial services61,849 56,560 5,289 9.4 %$1,507,100 $1,374,674 $132,426 9.6 %Factory-built homes soldby Company-owned retail sales centers3,120 2,999 1214.0 %to independent retailers, builders, communities and developers11,573 9,991 1,582 15.8 %14,693 12,990 1,703 13.1 %Net factory-built housing revenue per home sold$98,363 $101,471 $(3,108)(3.1)%

Factory-built housing Net revenue increased for the three and nine months ended December 28, 2024 due to higher home sales volume, partially offset by a decrease in Net revenue