Description

Cavco Industries’ $600 Million Buyback Story — 19% Of Shares Have Disappeared!

Cavco Industries, Inc. reported its first quarter fiscal year 2027 results, highlighting several operational and financial developments along with industry context. The company achieved record shipment volumes of 5,657 units, marking a 13% sequential increase, supported by a 50% growth in backlog compared to both the previous quarter and the prior year. The order momentum was described as broad-based, with double-digit growth in every region of the U.S. and across all three sales channels: builders/developers, communities, and retail. Despite the rise in shipments and backlog, capacity utilization remained at about 75%, indicating room for further production increases should strong demand continue. Net revenues for the quarter exceeded $610 million, representing roughly a 10% increase both sequentially and year-over-year. The factory-built housing segment accounted for $586 million of revenue, reflecting contributions from the acquisition of American Homestar and a higher proportion of multi-wide homes and company-owned store sales.