$CVCO

CAVCO INDUSTRIES INC

CIK:0000278166|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Income Statement [Abstract]
Net revenue	$ 609,959	$ 556,857
Cost of sales	475,369	427,351
Gross profit	134,590	129,506
Selling, general and administrative expenses	81,835	69,148
Income from operations	52,755	60,358
Interest income	3,263	5,103
Interest expense	(132)	(164)
Other expense, net	(98)	0
Income before income taxes	55,788	65,297
Income tax expense	(13,517)	(13,655)
Net Income	42,271	51,642
Comprehensive income
Net income	42,271	51,642
Reclassification adjustment for securities sold	(132)	117
Applicable income tax benefit (expense)	28	(24)
Net change in unrealized position of investments held	(14)	4
Applicable income tax benefit (expense)	3	(1)
Comprehensive income	$ 42,156	$ 51,738
Net income per share
Basic (in usd per share)	$ 5.48	$ 6.49
Diluted (in usd per share)	$ 5.43	$ 6.42
Weighted average shares outstanding
Basic (in shares)	7,707,952	7,953,720
Diluted (in shares)	7,784,424	8,041,008

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
OPERATING ACTIVITIES
Net income	$ 42,271	$ 51,642
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	6,691	5,169
Provision for credit losses	296	(64)
Deferred income taxes	(49)	558
Stock-based compensation expense	4,101	3,564
Non-cash interest income, net	(252)	(239)
Loss on sale or retirement of property, plant and equipment, net	268	80
Gain on investments and sale of loans, net	(3,045)	(1,054)
Changes in operating assets and liabilities
Accounts receivable	(7,570)	(10,390)
Proceeds from sales of consumer loans receivable	29,031	12,357
Inventories	(13,307)	(5,373)
Prepaid expenses and other current assets	7,432	7,561
Accounts payable, accrued expenses and other liabilities	39,169	13,372
Net cash provided by operating activities	74,452	55,523
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(25,493)	(9,138)
Proceeds from sale of property, plant and equipment	49	0
Purchases of investments	(4,517)	(6,438)
Proceeds from sale of investments	2,471	7,861
Net cash used in investing activities	(27,490)	(7,715)
FINANCING ACTIVITIES
Payments for taxes on stock option exercises and releases of equity awards	(8,325)	(4,709)
Proceeds from exercise of stock options	59	29
Payments on finance leases and other secured financings	(91)	(49)
Payments for common stock repurchases	(30,000)	(50,000)
Net cash used in financing activities	(38,357)	(54,729)
Net increase (decrease) in cash, cash equivalents and restricted cash	8,605	(6,921)
Cash, cash equivalents and restricted cash at beginning of the fiscal year	257,612	375,345
Cash, cash equivalents and restricted cash at end of the period	266,217	368,424
Supplemental disclosures of cash flow information
Cash paid for income taxes	1,248	5,419
Cash paid for interest	67	68
Supplemental disclosures of noncash activity
Change in GNMA loans eligible for repurchase	(861)	563
Consumer Loans Receivable
Changes in operating assets and liabilities
Loans receivable originated	(26,886)	(15,231)
Principal payments received on commercial loans receivable	1,338	1,417
Commercial Loans Receivable
Changes in operating assets and liabilities
Loans receivable originated	(43,666)	(42,378)
Principal payments received on commercial loans receivable	$ 38,630	$ 34,532

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 27, 2026	Mar. 28, 2026
Current assets
Cash and cash equivalents	$ 243,195	$ 236,721
Restricted cash, current	22,437	20,306
Accounts receivable, net	115,858	108,288
Short-term investments	18,279	16,233
Inventories	308,978	295,671
Prepaid expenses and other current assets	63,867	71,630
Total current assets	837,195	824,733
Restricted cash	585	585
Investments	39,652	38,151
Property, plant and equipment, net	297,980	278,890
Goodwill	209,241	208,841
Other intangibles, net	27,462	28,067
Operating lease right-of-use assets	37,071	33,578
Total assets	1,541,448	1,491,139
Current liabilities
Accounts payable	46,454	44,168
Accrued expenses and other current liabilities	329,208	291,230
Total current liabilities	375,662	335,398
Operating lease liabilities	33,744	30,747
Other liabilities	6,972	7,096
Deferred income taxes	14,674	14,716
Total liabilities	431,052	387,957
Stockholders' equity
Preferred stock, $0.01 par value; 1,000,000 shares authorized; No shares issued or outstanding	0	0
Common stock, $0.01 par value; 40,000,000 shares authorized; Issued 9,504,933 and 9,474,288 shares, respectively; Outstanding 7,709,359 and 7,738,700 shares, respectively	95	95
Treasury stock, at cost; 1,795,574 and 1,735,588 shares, respectively	(616,372)	(585,865)
Additional paid-in capital	295,773	300,208
Retained earnings	1,430,985	1,388,714
Accumulated other comprehensive (loss) income	(85)	30
Total stockholders' equity	1,110,396	1,103,182
Total liabilities and stockholders' equity	1,541,448	1,491,139
Consumer Loans Receivable
Current assets
Current portion of loans receivable, net	17,367	19,207
Loans receivable, net	18,827	18,974
Commercial Loans Receivable
Current assets
Current portion of loans receivable, net	47,214	56,677
Loans receivable, net	73,435	59,320
Commercial Loans Receivable \| Nonrelated Party
Current assets
Current portion of loans receivable, net	45,580	54,841
Loans receivable, net	69,903	55,801
Commercial Loans Receivable \| Related Party
Current assets
Current portion of loans receivable, net	1,634	1,836
Loans receivable, net	$ 3,532	$ 3,519