Filing Flows › Cavco Industries (CVCO) › Q2 FY26
Cavco Industries (CVCO) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Oct 31, 2025
Cavco Industries (CVCO) reported revenue of $557M for the second quarter fiscal 2026 (Q2 FY26), +10% from a year earlier and -0.1% from the quarter before. Operating margin was 11.2%, net earnings $52.4M (9.4% of revenue).
Cavco Industries, Q2 FY26: revenue $557M (+10% year over year), operating margin 11.2%, net earnings $52.4M, operating cash flow $78.5M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $557M | -0.1% | +10% |
| Gross profit | $134M | +4% | +16% |
| Operating profit | $62.2M | +3% | +27% |
| Net earnings | $52.4M | +1% | +20% |
| Operating cash flow | $78.5M | +41% | +44% |
| Free cash flow | $68.7M | +48% | +38% |
What changed
Revenue was $556.5M in Q2 FY26, up 10% year over year and roughly flat from the previous quarter. Factory-built housing was the largest line at 96% of revenue. Factory-built housing added $48.8M year over year (up 10%), 99% of the total change.
Gross margin was 24.2%, up 1.3 points from a year earlier. Operating profit was $62.2M, a 11.2% margin (up 1.5 points year over year). Of the extra revenue versus a year earlier, 27% reached operating profit, above the 10% margin then. Operating expenses grew 8% against revenue growth of 10%. Net earnings were $52.4M, up 20% year over year. The effective tax rate was 22.1%.
Operating cash flow was $78.5M (up 44% year over year), 150% of net earnings. Non-cash charges added back $5.3M of depreciation and amortization and $3.5M of share-based compensation. Working capital and other items added $17.2M. Capital expenditures of $9.7M left free cash flow of $68.7M.
Questions
What was Cavco Industries' revenue in the second quarter fiscal 2026?
Cavco Industries (CVCO) reported revenue of $557M for the second quarter fiscal 2026 (Q2 FY26), +10% from a year earlier and -0.1% from the quarter before.
Was Cavco Industries profitable in the second quarter fiscal 2026?
Operating profit was $62.2M (11.2% of revenue) and net earnings $52.4M.
Source: Cavco Industries 10-Q on SEC EDGAR.