Manufactured housing company Cavco reported strong results for the recent fiscal year, even as manufactured housing did slow a bit during the year.
The company said that for the fourth quarter of the fiscal year, which ended April 1, it had net revenue and net income of $476 million and $47 million, respectively. It was the company’s 13th straight year of revenue and earnings growth.
For the full year, Cavco reported net revenue of $2.1 billion and net income of $240 million.
“Despite rising interest rates and increased economic challenges the last few quarters, our team has delivered another year of outstanding growth,” said Bill Boor, president and CEO. hief Executive Officer, said, “Despite. In addition to solid operating results, we expanded our capacity through the Solitaire acquisition and the Hamlet and Glendale plant startups. The affordable housing problem only worsened over the past year; however, our ability to serve the need for our homes has never been stronger.”