Stock Track | Cavco Plunges 9.43% After Hours on Q3 Earnings Miss
Stock Track
Jan 30
Cavco Industries (CVCO) experienced a significant after-hours plunge of 9.43% following the release of its fiscal third-quarter results.
The factory-built housing maker reported quarterly earnings of $5.58 per share, which missed the analyst consensus estimate of $6.26 by 10.86%. This also represents a 19.13% decrease from earnings of $6.90 per share in the same period last year. Additionally, the company reported quarterly sales of $580.994 million, falling short of the $593.370 million estimate by 2.09%.
The dual miss on both earnings per share and revenue expectations, coupled with the year-over-year decline in profitability, prompted the sharp sell-off in post-market trading.
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