Filing Flows › Cavco Industries (CVCO) › Q1 FY27
Cavco Industries (CVCO) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Jul 31, 2026
Cavco Industries (CVCO) reported revenue of $610M for the first quarter fiscal 2027 (Q1 FY27), +10% from a year earlier and +11% from the quarter before. Operating margin was 8.6%, net earnings $42.3M (6.9% of revenue).
Cavco Industries, Q1 FY27: revenue $610M (+10% year over year), operating margin 8.6%, net earnings $42.3M, operating cash flow $74.5M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $610M | +11% | +10% |
| Gross profit | $135M | +6% | +4% |
| Operating profit | $52.8M | +2% | -13% |
| Net earnings | $42.3M | -0.4% | -18% |
| Operating cash flow | $74.5M | +11% | +34% |
| Free cash flow | $49.0M | -17% | +6% |
What changed
Revenue was $610.0M in Q1 FY27, up 10% year over year and up 11% from the previous quarter. Factory-built housing was the largest line at 96% of revenue. Factory-built housing added $50.3M year over year (up 9%), 95% of the total change.
Gross margin was 22.1%, down 1.2 points from Q1 FY26. Operating profit was $52.8M, a 8.6% margin (down 2.2 points year over year). Operating profit fell $7.6M even though revenue rose $53.1M versus Q1 FY26, so costs grew faster than sales. Operating expenses grew 18% against revenue growth of 10%. Net earnings were $42.3M, down 18% year over year. The effective tax rate was 24.2%.
Operating cash flow was $74.5M (up 34% year over year), 176% of net earnings. Non-cash charges added back $6.7M of depreciation and amortization and $4.1M of share-based compensation. Working capital and other items added $21.4M. Capital expenditures of $25.5M left free cash flow of $49.0M.
Questions
What was Cavco Industries' revenue in the first quarter fiscal 2027?
Cavco Industries (CVCO) reported revenue of $610M for the first quarter fiscal 2027 (Q1 FY27), +10% from a year earlier and +11% from the quarter before.
Was Cavco Industries profitable in the first quarter fiscal 2027?
Operating profit was $52.8M (8.6% of revenue) and net earnings $42.3M.
Source: Cavco Industries 10-Q on SEC EDGAR.