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Nobility Homes, Inc. reports recurring sales and earnings updates for its manufactured and modular home business in Florida. The company designs and produces affordable manufactured housing, operates multiple retail sales centers in Florida, and has an insurance agency subsidiary as part of its vertically integrated model.
Company news typically covers quarterly and annual revenue, operating income, net income, earnings per share, liquidity, debt levels, book value, Florida manufactured-housing demand, stock repurchase authorizations, and cash dividends.
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Nobility Homes, Inc. (OTCQX:NOBH) reported a strong first quarter for 2023, with sales rising 59% to $17.2 million compared to $10.8 million in Q1 2022. Income from operations surged 192% to $3.8 million, while net income increased 164% to $3.1 million. Diluted earnings per share improved to $0.91 from $0.33. The company maintains a robust financial position with cash and equivalents of $24.3 million and no debt. A one-time cash dividend of $1.00 per share will be distributed to shareholders on April 3, 2023. However, challenges such as supply chain issues and rising interest rates could impact future growth.
Nobility Homes has announced a one-time cash dividend of $1.00 per common share for the fiscal year 2022, payable on April 3, 2023, to stockholders of record as of March 20, 2023. This marks the continuation of its practice, having declared similar dividends in the preceding four fiscal years. The Board of Directors evaluates the company's balance sheet, cash flow, and future earnings before declaring dividends, without a defined dividend policy in place. The company cited various risks that could impact its financial performance, including supply chain disruptions and inflationary pressures.
Nobility Homes, Inc. (OTCQX:NOBH) reported strong financial performance for the fiscal year ended November 5, 2022. Sales rose 14% to $51.5 million, with income from operations increasing 37% to $8.4 million. Net income climbed 34% to $7.2 million, resulting in diluted earnings per share of $2.10, up from $1.50. In Q4, sales surged 71% to $16.2 million, and net income jumped 76% to $2.7 million. Nobility maintains a strong financial position with cash and investments of $21.1 million and no debt, reflecting a current ratio of 3.3:1.
Nobility Homes (OTCQX:NOBH) reported strong financial results for Q3 2022, with sales increasing by 18% to $13.8 million compared to $11.8 million in Q3 2021. Income from operations rose to $2.2 million, up from $1.2 million the previous year. Net income after taxes was $1.9 million versus $1.0 million last year, resulting in diluted earnings per share of $0.56, compared to $0.29. However, supply chain issues are impacting production and delivery timelines, which may affect future sales.
Nobility Homes, Inc. (OTCQX:NOBH) reported a decline in sales for Q2 2022, generating $10.6 million compared to $14.7 million in Q2 2021. Income from operations fell to $1.6 million from $2.1 million, with net income after taxes at $1.5 million versus $1.7 million last year. Diluted earnings per share decreased to $0.42 from $0.47. For the first half of 2022, sales reached $21.5 million, down from $23.8 million in 2021. The company maintains a strong financial position with $27.1 million in cash and no debt. Challenges from supply chain issues are impacting operations.
Nobility Homes, Inc. (OTCQX:NOBH) reported a 19% increase in first-quarter sales for 2022, reaching $10.8 million, up from $9.1 million in the same period of 2021. Operating income also rose slightly to $1.3 million, while net income climbed to $1.2 million. Diluted earnings per share improved to $0.33, compared to $0.29 last year. With cash and equivalents at $39.6 million and no debt, Nobility declared a one-time cash dividend of $1.00 per share, payable on April 4, 2022. However, challenges include production material shortages and inflation, impacting gross profits.