Record Home Sales Drive Cavco's Q4 EPS to $5.42, New $150M Buyback Approved
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Cavco Industries reported strong fiscal Q4 results, with diluted EPS jumping to $5.42 from $4.47 year-over-year, and net revenue increasing 8% to $550 million. Full fiscal year diluted EPS rose to $23.98 on 11.4% revenue growth. This positive performance reverses the negative net income and EPS trend from the prior quarter. The company also announced a new $150 million stock repurchase program, adding to the $160 million in buybacks completed during the year. Management highlighted record home sales, successful integration of the American Homestar acquisition, and significant increases in Q4 wholesale orders, alongside breaking ground on a new facility as announced yesterday.
At the time of this announcement, CVCO was trading at $491.49 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $3.8B. The 52-week trading range was $393.53 to $713.01. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.