Filing Flows › Cavco Industries (CVCO) › Q1 FY26
Cavco Industries (CVCO) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Aug 4, 2025
Cavco Industries (CVCO) reported revenue of $557M for the first quarter fiscal 2026 (Q1 FY26), +17% from a year earlier and +10% from the quarter before. Operating margin was 10.8%, net earnings $51.6M (9.3% of revenue).
Cavco Industries, Q1 FY26: revenue $557M (+17% year over year), operating margin 10.8%, net earnings $51.6M, operating cash flow $55.5M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $557M | +10% | +17% |
| Gross profit | $130M | +12% | +25% |
| Operating profit | $60.4M | +56% | +57% |
| Net earnings | $51.6M | +42% | +50% |
| Operating cash flow | $55.5M | +44% | +17% |
| Free cash flow | $46.4M | +43% | +9% |
What changed
Revenue was $556.9M in Q1 FY26, up 17% year over year and up 10% from the previous quarter. Factory-built housing was the largest line at 96% of revenue. Factory-built housing added $77.6M year over year (up 17%), 98% of the total change.
Gross margin was 23.3%, up 1.6 points from a year earlier. Operating profit was $60.4M, a 10.8% margin (up 2.8 points year over year). Of the extra revenue versus a year earlier, 28% reached operating profit, above the 8% margin then. Operating expenses grew 7% against revenue growth of 17%. Net earnings were $51.6M, up 50% year over year. The effective tax rate was 20.9%.
Operating cash flow was $55.5M (up 17% year over year), 108% of net earnings. Non-cash charges added back $5.2M of depreciation and amortization and $3.6M of share-based compensation. Working capital and other items used $4.9M. Capital expenditures of $9.1M left free cash flow of $46.4M.
Questions
What was Cavco Industries' revenue in the first quarter fiscal 2026?
Cavco Industries (CVCO) reported revenue of $557M for the first quarter fiscal 2026 (Q1 FY26), +17% from a year earlier and +10% from the quarter before.
Was Cavco Industries profitable in the first quarter fiscal 2026?
Operating profit was $60.4M (10.8% of revenue) and net earnings $51.6M.
Source: Cavco Industries 10-Q on SEC EDGAR.