Cavco Industries (CVCO) Tops Q2 EPS by 14c

Cavco Industries (NASDAQ: CVCO) reported Q2 EPS of $0.89, $0.14 better than the analyst estimate of $0.75. Revenue for the quarter came in at $192 million versus the consensus estimate of $171.2 million.

Commenting on the results, Joseph Stegmayer, Chairman, President and Chief Executive Officer said, "We are pleased to report improved results this quarter. Home sales activity has been growing and our operations have been successful in capturing additional sales volume. The integrations of the recently purchased Fairmont Homes and Chariot Eagle operations are progressing as expected. The newly acquired operations are producing affordable housing solutions complementary to Cavco's growing home product lineup while expanding our geographic footprint. In addition to these new businesses, a variety of U.S. housing indicators give us confidence in further organic growth potential and we believe the Company is well positioned to take advantage of increasing demand for affordable housing."

For earnings history and earnings-related data on Cavco Industries (CVCO) click here.

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