The following is a summary of the Cavco Industries, Inc. (CVCO) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Cavco reported Q4 net revenue of $420.1 million, a decrease of 11.8% compared to the prior year due to reduced units sold and average selling prices.

• Consolidated gross profit was 23.6%, down from 25.3% in the same period last year.

• Net income to stockholders was $33.9 million, a decrease from $47.3 million in the same quarter of the prior year. Earnings per share also decreased to $4.03 from $5.39 per share in last year's fourth quarter.

• Despite facing a down year, fiscal 2024 was Cavco's third-highest net income year in history, doubling the income from three years ago.

Business Progress:

• Cavco experienced a quarter-to-quarter backlog increase for the first time since the downturn began, indicating market improvement.

• The company expanded its retail presence by adding 15 new stores, bringing the total to 79 locations.

• The Anthem series, a first-of-its-kind affordable housing solution, was launched by Cavco.

• Cavco repurchased $110 million worth of its own stock, maintaining a stable financial base for continued growth investments.

• The firm closely managed variable costs and monitored commodity pricing fluctuations.

• Cavco is committed to enhancing its production and backlog management, and is considering further investment in its lending business for better market opportunities.

• The company anticipates a progressive market and increased home deliveries due to its focus on finding affordability solutions for customers.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.