Nobility Homes Q3 EPS rises to $0.60 as YTD sales fall
Nobility Homes posts slightly higher Q3 2026 earnings but year-to-date sales and profits remain below 2025 levels amid interest-rate and cost headwinds.
Rhea-AI Filing Summary
NOBILITY HOMES, INC. (NOBH) reported third-quarter 2026 net sales of $12.1 million, slightly above $12.0 million a year earlier. Operating income was $2.1 million versus $2.2 million, while net income rose to $1.9 million from $1.8 million, with earnings per share increasing to $0.60 from $0.56.
For the first nine months of 2026, net sales were $35.1 million compared with $39.0 million in 2025, and net income was $5.3 million versus $6.1 million, with EPS of $1.66 versus $1.87. Management attributes lower year-to-date sales mainly to fewer homes sold through company-owned retail centers, partly offset by more sales to independent dealers that carry lower margins.
The company highlights a strong financial position, with $25.8 million in cash, cash equivalents, certificates of deposit and short-term investments, no outstanding debt, working capital of $44.4 million and a current ratio of 7.4:1. Stockholders’ equity totals $58.4 million, and book value per share is $18.52. Management cites ongoing headwinds from higher interest rates, supply chain issues, labor shortages, and material cost inflation, which it expects to persist into 2027.
Positive
- Q3 EPS grew over 7%, rising to $0.60 from $0.56, with net income up to $1.9 million from $1.8 million year over year.
- The company reports a strong balance sheet with $25.8 million in cash, equivalents, CDs and short-term investments, no debt, working capital of $44.4 million and stockholders’ equity of $58.4 million.
Negative
- Year-to-date revenue declined about 10%, with nine-month 2026 sales of $35.1 million versus $39.0 million for the same period in 2025.
- Year-to-date profitability weakened, as nine-month 2026 net income fell to $5.3 million from $6.1 million and EPS dropped to $1.66 from $1.87.
- Sales mix shifted toward lower-margin independent dealer sales and away from company-owned retail centers, while higher interest rates, supply chain delays, labor shortages and material cost inflation are expected to continue into 2027.
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FAQ
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) |
(Commission File No.) |
(IRS Employer Identification No.) |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number including area code:
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act: None
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| ITEM 2.02 | Results of Operations and Financial Condition |
On September 11, 2026, Nobility Homes, Inc. (the “Company”) issued a press release regarding sales and earnings for its third quarter ended August 1, 2026.
The text of the press release is attached as Exhibit 99.1.
| ITEM 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits: |
| Exhibit 99.1 | Earnings release issued by Nobility Homes, Inc. | |
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NOBILITY HOMES, INC. | ||||||
| September 11, 2026 | By: | /s/ Lynn J. Cramer, Jr. | ||||
| Lynn J. Cramer, Jr., Treasurer and Principal Accounting Officer | ||||||
Exhibit 99.1
NOBILITY HOMES, INC. ANNOUNCES SALES AND EARNINGS FOR ITS THIRD QUARTER 2026
Ocala, FL…September 11, 2026 - Today Nobility Homes, Inc. (OTCQX: NOBH) announced sales and earnings for its third quarter ended August 1, 2026. Sales for the third quarter of 2026 were $12.1 million slightly up from $12.0 million recorded in the third quarter of 2025. Income from operations was $2.1 million versus $2.2 million in the same period a year ago and net income after taxes was $1.9 million as compared to $1.8 million for the same period last year. Earnings per share for the third quarter of 2026 were $0.60 per share compared to $0.56 per share last year.
For the first nine months of fiscal 2026, sales were $35.1 million as compared to $39.0 million for the nine months of 2025. Income from operations was $6.0 million versus $7.2 in the same period last year and net income after taxes was $5.3 million versus last year’s results of $6.1 million. Earnings per share for the nine months were $1.66 per share compared to $1.87 (diluted $1.86) per share last year.
Nobility’s financial position during the third quarter of 2026 remains strong with cash and cash equivalents, certificates of deposit and short-term investments of $25.8 million and no outstanding debt. Working capital is $44.4 million and our ratio of current assets to current liabilities is 7.4:1. Stockholders’ equity is $58.4 million and the book value per share of common stock is $18.52.
Terry Trexler, President, stated, “Total net sales decreased during the first nine months of 2026 as compared to same period in 2025 due to a decrease in the number of new retail homes sold in our Company owned retail sales centers (137 homes versus 195 homes) partially offset by an increase in the number of homes sold to independent dealers (184 homes versus 129 homes) which sales have lower margins.
We believe that potential customers continue to delay or defer purchasing decisions, or are generally opting to purchase lower cost homes, when considering the higher interest rate environment and the uncertainty of the economy, which continue to negatively impact sales. There also remain delays in the receipt of certain key production materials from suppliers, as well as back orders, price increases, tariffs and labor shortages which continue to cause delays in the completion of the homes at our manufacturing facility. We also continue to experience inflation in several building products resulting in increases in our material costs. We expect these challenges will continue throughout fiscal years 2026 and into 2027.
According to the Florida Manufactured Housing Association, shipments for the manufacturing housing industry in Florida for the period from November 2025 through July 2026 increased by approximately 6% from the same period last year.
Our strong financial position remains key to our future growth and success. Our decades of experience in the Florida market, combined with growing demand for affordable housing, should position the Company well for the future. Management continues to believe our geographic market is one of the strongest long-term growth areas in the country.”
On June 5, 2026, we celebrated our 59th year in business specializing in the design and production of quality, affordable manufactured and modular homes. With multiple retail sales centers in Florida for over 36 years and an insurance agency subsidiary, we are the only vertically integrated manufactured home company headquartered in Florida.
MANAGEMENT WILL NOT HOLD A CONFERENCE CALL. IF YOU HAVE ANY QUESTIONS, PLEASE CALL TERRY OR TOM TREXLER @ 800-476-6624 EXT 121 OR TERRY@NOBILITYHOMES.COM OR TOM@NOBILITYHOMES.COM
Certain statements in this report are unaudited or forward-looking statements within the meaning of the federal securities laws. Although Nobility believes that the amounts and expectations reflected in such forward-looking statements are based on reasonable assumptions, there are risks and uncertainties that may cause actual results to differ materially from expectations. These risks and uncertainties include, but are not limited to, the potential adverse impact on our business caused by competitive pricing pressures at both the wholesale and retail levels, inflation, tariffs, increasing material costs (including forest based products) or availability of materials due to supply chain interruptions (such as current inflation with forest products and supply issues with vinyl siding and PVC piping), changes in market demand, increase in interest rates, availability of financing for retail and wholesale purchasers, consumer confidence, adverse weather conditions that reduce sales at retail centers, the risk of manufacturing plant shutdowns due to storms or other factors, the impact of marketing and cost-management programs, the impact of higher interest rates on mortgage financing, reliance on the Florida economy, impact of labor shortage, impact of materials shortage, increasing labor cost, cyclical nature of the manufactured housing industry, impact of rising fuel costs, catastrophic events impacting insurance costs, availability of insurance coverage for various risks to Nobility, market demographics, management’s ability to attract and retain executive officers and key personnel, increased global tensions, market disruptions resulting from terrorist attacks, or other events such as a pandemic, any armed conflict involving the United States and the impact of inflation.
NOBILITY HOMES, INC.
Condensed Consolidated Balance Sheets
| August 1, | November 1, | |||||||
| 2026 | 2025 | |||||||
| (Unaudited) | ||||||||
| Assets |
||||||||
| Current assets: |
||||||||
| Cash and cash equivalents |
$ | 13,417,420 | $ | 13,230,504 | ||||
| Certificates of deposit |
11,697,609 | 13,109,325 | ||||||
| Short-term investments |
684,503 | 583,128 | ||||||
| Accounts receivable - trade |
4,301,664 | 4,602,671 | ||||||
| Mortgage notes receivable |
5,294 | 3,645 | ||||||
| Income tax receivable |
— | — | ||||||
| Inventories |
19,622,587 | 19,733,235 | ||||||
| Prepaid expenses and other current assets |
1,519,431 | 2,000,403 | ||||||
|
|
|
|
|
|||||
| Total current assets |
51,248,508 | 53,262,911 | ||||||
| Property, plant and equipment, net |
8,230,439 | 8,230,055 | ||||||
| Mortgage notes receivable, less current portion |
138,749 | 143,373 | ||||||
| Other investments |
611,417 | 553,752 | ||||||
| Property held for resale |
26,590 | 26,590 | ||||||
| Deferred income taxes |
— | — | ||||||
| Cash surrender value of life insurance |
4,970,430 | 4,772,430 | ||||||
| Other assets |
156,287 | 156,287 | ||||||
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|
|
|||||
| Total assets |
$ | 65,382,420 | $ | 67,145,398 | ||||
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| Liabilities and Stockholders’ Equity |
||||||||
| Current liabilities: |
||||||||
| Accounts payable |
$ | 693,589 | $ | 586,001 | ||||
| Accrued compensation |
529,252 | 765,853 | ||||||
| Accrued expenses and other current liabilities |
1,419,320 | 1,590,827 | ||||||
| Income taxes payable |
1,193,863 | 658,461 | ||||||
| Customer deposits |
3,048,824 | 2,795,344 | ||||||
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|
|
|||||
| Total current liabilities |
6,884,848 | 6,396,486 | ||||||
| Deferred income taxes |
76,904 | 34,069 | ||||||
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|
|||||
| Total liabilities |
6,961,752 | 6,430,555 | ||||||
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| Commitments and contingencies |
||||||||
| Stockholders’ equity: |
||||||||
| Preferred stock, $0.10 par value, 500,000 shares authorized; none issued and outstanding |
— | — | ||||||
| Common stock, $0.10 par value, 10,000,000 shares authorized; 5,364,907 shares issued; 3,153,665 and 3,253,665 shares outstanding |
536,491 | 536,491 | ||||||
| Additional paid in capital |
11,438,822 | 11,316,595 | ||||||
| Retained earnings |
79,591,517 | 79,037,919 | ||||||
| Less treasury stock at cost, 2,211,242 and 2,111,242 shares, respectively |
(33,146,162 | ) | (30,176,162 | ) | ||||
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|
|||||
| Total stockholders’ equity |
58,420,668 | 60,714,843 | ||||||
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| Total liabilities and stockholders’ equity |
$ | 65,382,420 | $ | 67,145,398 | ||||
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NOBILITY HOMES, INC.
Condensed Consolidated Statements of Income
(Unaudited)
| Three Months Ended | Nine Months Ended | |||||||||||||||
| August 1, 2026 |
August 2, 2025 |
August 1, 2026 |
August 2, 2025 |
|||||||||||||
| Net sales |
$ | 12,138,230 | $ | 12,021,194 | $ | 35,051,636 | $ | 39,020,273 | ||||||||
| Cost of sales |
(8,646,241 | ) | (8,173,008 | ) | (24,732,344 | ) | (26,569,886 | ) | ||||||||
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|||||||||
| Gross profit |
3,491,989 | 3,848,186 | 10,319,292 | 12,450,387 | ||||||||||||
| Selling, general and administrative expenses |
(1,384,120 | ) | (1,670,585 | ) | (4,286,486 | ) | (5,236,432 | ) | ||||||||
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| Operating income |
2,107,869 | 2,177,601 | 6,032,806 | 7,213,955 | ||||||||||||
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| Other income (expense) |
||||||||||||||||
| Interest income |
213,928 | 270,139 | 687,383 | 853,735 | ||||||||||||
| Undistributed earnings in joint venture - Majestic 21 |
16,684 | 25,624 | 57,665 | 72,893 | ||||||||||||
| Proceeds received under escrow arrangement |
13,565 | 36,094 | 71,879 | 116,312 | ||||||||||||
| Increase (decrease) in fair market value of equity investment |
131,541 | (16,316 | ) | 101,375 | (115,336 | ) | ||||||||||
| Gain on disposal of property, plant and equipment |
— | — | 1,000 | 1,000 | ||||||||||||
| Miscellaneous |
10,869 | (25 | ) | 80,224 | 25,697 | |||||||||||
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|||||||||
| Total other income |
386,587 | 315,516 | 999,526 | 954,301 | ||||||||||||
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|||||||||
| Income before provision for income taxes |
2,494,456 | 2,493,117 | 7,032,332 | 8,168,256 | ||||||||||||
| Income tax expense |
(598,114 | ) | (667,846 | ) | (1,748,237 | ) | (2,070,243 | ) | ||||||||
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| Net income |
$ | 1,896,342 | $ | 1,825,271 | $ | 5,284,095 | $ | 6,098,013 | ||||||||
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| Weighted average number of shares outstanding: |
||||||||||||||||
| Basic |
3,153,665 | 3,268,998 | 3,185,899 | 3,268,939 | ||||||||||||
| Diluted |
3,159,240 | 3,274,456 | 3,191,587 | 3,276,061 | ||||||||||||
| Net income per share: |
||||||||||||||||
| Basic |
$ | 0.60 | $ | 0.56 | $ | 1.66 | $ | 1.87 | ||||||||
| Diluted |
$ | 0.60 | $ | 0.56 | $ | 1.66 | $ | 1.86 | ||||||||