Cavco Industries reports Q3 EPS $4.27, consensus $4.27

Reports Q3 revenue $446.77M, consensus $425.88M. Backlogs totaled $160M at the end of the quarter. Commenting on the quarter, president and CEO Bill Boor said, “Despite winter months typically being slower, our orders written this quarter, on a same plant basis, were the highest in the last six quarters. Dealer orders continue to improve while the return of community orders still lies ahead. Our manufacturing and retail operations have executed very well through this downturn, and each of our plants is positioned to respond to improving conditions. Our continuing strong cash flow has enabled us to remain focused on the underlying critical need for quality, affordable homes. To that end, in December we were excited to announce our new Anthem series, the first nationally available HUD-approved manufactured duplex. This is a great example of how we are working with developers and community operators on innovative solutions to improve housing affordability.”