Cavco Industries Reports $56.5 Million in Net Income for Fiscal Third Quarter
Cavco Industries Inc. (CVCO) announced net income of $56.5 million for its fiscal third quarter, representing a 1.95% increase from the previous quarter. On a per-share basis, the Phoenix-based company reported earnings of $6.90.
CVCO's revenue for the period reached $522 million, marking a significant increase from the previous quarter. The company attributed its strong financial performance to continued demand for new homes despite rising interest rates.
"Our focus on operational efficiency and customer satisfaction has enabled us to deliver consistent growth," said Bill Boor, CEO of Cavco Industries. "We remain optimistic about the long-term prospects of the housing market and are well-positioned to capitalize on future opportunities."
Cavco Industries is a leading manufacturer of manufactured homes, park model RVs, and modular homes. The company has operations in 19 states and Canada.