Cavco Industries (NASDAQ:CVCO) Third Quarter 2023 Results
Key Financial Results
Revenue: US$500.6m (up 16% from 3Q 2022).
Net income: US$59.5m (down 25% from 3Q 2022).
Profit margin: 12% (down from 18% in 3Q 2022). The decrease in margin was driven by higher expenses.
EPS: US$6.71 (down from US$8.66 in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Cavco Industries EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 15%.
Looking ahead, revenue is expected to fall by 2.6% p.a. on average during the next 2 years compared to a 1.3% decline forecast for the Consumer Durables industry in the US.
Performance of the American Consumer Durables industry.
The company's shares are up 1.3% from a week ago.
Risk Analysis
It is worth noting though that we have found 1 warning sign for Cavco Industries that you need to take into consideration.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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