Cavco expands capacity, acquires American Homestar for $173M, adds 12 retail stores

Filed May 22, 2026 · Period ending March 28, 2026 · Compared to 10-K May 23, 2025 · ~2 min read

Key Changes

• high

  Completed American Homestar acquisition for $172.8M net cash in Q3 FY2026, contributing $90.5M revenue and raising goodwill from 9% to 14% of total assets. Acquisition excluded from internal control assessment (13% assets, 3% net income).

  Business & MD&A: Acquisitions verify on EDGAR →
• high

  Added 2 production lines (31 total U.S. lines, up 7%) and 12 retail stores (92 total, up 15%), with Texas stores growing from 46 to 57. Workforce expanded 10% to 7,700 employees to support capacity expansion.

  Business: Capacity Expansion verify on EDGAR →
• high

  Financial services gross profit surged 112.5% to $50.6M driven by improved insurance underwriting and favorable weather reducing claims. New forward-flow agreement commits $25M consumer loans per quarter for predictable liquidity.

  MD&A: Financial Services verify on EDGAR →