Nobility Homes (OTCQX: NOBH) posts lower Q2 2026 profit, strong cash
Rhea-AI Filing Summary
Nobility Homes reported weaker results for its second quarter of 2026. Net sales were $12.4 million compared with $14.8 million a year earlier, and net income was $1.76 million versus $2.29 million. Earnings per share were $0.56, down from $0.70.
For the first six months of fiscal 2026, sales were $22.9 million versus $27.0 million, with net income of $3.39 million compared with $4.27 million and earnings per share of $1.06 versus $1.31. Management cited fewer higher‑margin homes sold through company‑owned retail centers, partially offset by more lower‑margin sales to independent dealers, along with higher interest rates, supply chain delays and inflation.
The company highlighted a strong financial position, with $24.2 million in cash, certificates of deposit and short‑term investments, no outstanding debt, working capital of $42.6 million, and stockholders’ equity of $56.5 million, or $17.92 in book value per share.
Positive
- Balance sheet remains very strong, with $24.2 million in cash, certificates of deposit and short‑term investments, no outstanding debt, $42.6 million in working capital, and stockholders’ equity of $56.5 million, or $17.92 book value per share.
Negative
- Revenue and earnings declined year over year, with Q2 2026 net sales, operating income, net income and earnings per share all below 2025 levels, reflecting softer demand and margin pressure from mix shift, higher interest rates, supply chain issues and inflation.
Insights
Nobility Homes posted lower sales and earnings but retains a very strong balance sheet.
Nobility Homes saw net sales fall to $12.4 million in Q2 2026 from $14.8 million a year earlier, with net income down to $1.76 million. For the first six months, revenue and profits also trailed 2025 levels, indicating softer operating momentum.
Management attributed the decline to fewer higher‑margin homes sold through company‑owned retail centers (93 versus 132) and more lower‑margin sales to independent dealers (121 versus 92), alongside higher interest rates, supply chain delays, tariffs, labor shortages and inflation in building products.
Despite weaker earnings, the company’s financial position appears robust, with $24.2 million in cash, certificates of deposit and short‑term investments, no debt, working capital of $42.6 million and stockholders’ equity of $56.5 million. Future filings may clarify whether demand improves as Florida manufactured housing shipments recently increased about 3% over the comparable period.
8-K Event Classification
Key Figures
Key Terms
working capital financial
vertically integrated financial
forward-looking statements regulatory
manufactured and modular homes technical
Earnings Snapshot
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
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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) |
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| ITEM 2.02 | Results of Operations and Financial Condition |
On June 12, 2026, Nobility Homes, Inc. (the “Company”) issued a press release regarding sales and earnings for its second quarter ended May 2, 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. | |
| 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. | ||||||
| June 15, 2026 | By: | /s/ Lynn J. Cramer, Jr. | ||||
| Lynn J. Cramer, Jr., Treasurer | ||||||
| and Principal Accounting Officer | ||||||
Exhibit 99.1
Controlling Our Future through Vertical Integration
NOBILITY HOMES, INC. ANNOUNCES SALES AND EARNINGS FOR ITS SECOND QUARTER 2026
Ocala, FL…June 12, 2026 - Today Nobility Homes, Inc. (OTCQX: NOBH) announced sales and earnings for its second quarter ended May 2, 2026. Sales for the second quarter of 2026 were $12.4 million compared to $14.8 million recorded in the second quarter of 2025. Income from operations for the second quarter of 2026 was $2.1 million versus $2.7 million in the same period a year ago. Net income after taxes was $1.8 million as compared to $2.3 million for the same period last year. Earnings per share for the second quarter of 2026 were $0.56 per share compared to $0.70 per share last year.
For the first six months of fiscal 2026, sales were $22.9 million as compared to $27.0 million for the six months of 2025. Income from operations for the six months of 2026 was $3.9 million versus $5.0 in the same period last year. Net income after taxes was $3.4 million versus last year’s results of $4.3 million. Earnings per share for the six months were $1.06 per share compared to $1.31 (diluted $1.30) per share last year.
Nobility’s financial position during the second quarter of 2026 remains strong with cash and cash equivalents, certificates of deposit and short-term investments of $24.2 million and no outstanding debt. Working capital is $42.6 million and our ratio of current assets to current liabilities is 7.1:1. Stockholders’ equity is $56.5 million and the book value per share of common stock is $17.92.
Terry Trexler, President, stated, “Total net sales decreased during the first six 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 (93 homes versus 132 homes) partially offset by an increase in the number of homes sold to independent dealers (121 homes versus 92 homes) which have lower margins.
We believe customers continue to delay or postpone home purchases, due to higher interest rates and ongoing economic uncertainty which are negatively affecting sales. We also continue to experience delays in receiving key production materials from suppliers, along with back orders, price increases, tariffs, and labor shortages, all of which are slowing home completion at our manufacturing facility. In addition, ongoing inflation across a range of building products is contributing to higher material costs. We expect these cost pressures to continue through fiscal 2026 and beyond.
According to the Florida Manufactured Housing Association, shipments for the manufacturing housing industry in Florida for the period from November 2025 through April 2026 increased by approximately 3% 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 anniversary in business specializing in the design and production of quality, affordable manufactured and modular homes. With multiple retail sales centers in Florida for over 35 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
| May 2, 2026 |
November 1, 2025 |
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| (Unaudited) | ||||||||
| Assets |
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| Current assets: |
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| Cash and cash equivalents |
$ | 9,857,859 | $ | 13,230,504 | ||||
| Certificates of deposit |
13,745,644 | 13,109,325 | ||||||
| Short-term investments |
552,962 | 583,128 | ||||||
| Accounts receivable - trade |
3,237,207 | 4,602,671 | ||||||
| Mortgage notes receivable |
4,736 | 3,645 | ||||||
| Income tax receivable |
— | — | ||||||
| Inventories |
20,457,355 | 19,733,235 | ||||||
| Prepaid expenses and other current assets |
1,796,819 | 2,000,403 | ||||||
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| Total current assets |
49,652,582 | 53,262,911 | ||||||
| Property, plant and equipment, net |
8,142,819 | 8,230,055 | ||||||
| Mortgage notes receivable, less current portion |
141,823 | 143,373 | ||||||
| Other investments |
594,733 | 553,752 | ||||||
| Property held for resale |
26,590 | 26,590 | ||||||
| Deferred income taxes |
— | — | ||||||
| Cash surrender value of life insurance |
4,904,430 | 4,772,430 | ||||||
| Other assets |
156,287 | 156,287 | ||||||
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| Total assets |
$ | 63,619,264 | $ | 67,145,398 | ||||
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| Liabilities and Stockholders’ Equity |
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| Current liabilities: |
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| Accounts payable |
$ | 604,475 | $ | 586,001 | ||||
| Accrued compensation |
513,307 | 765,853 | ||||||
| Accrued expenses and other current liabilities |
1,748,769 | 1,590,827 | ||||||
| Income taxes payable |
590,510 | 658,461 | ||||||
| Customer deposits |
3,562,374 | 2,795,344 | ||||||
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| Total current liabilities |
7,019,435 | 6,396,486 | ||||||
| Deferred income taxes |
82,143 | 34,069 | ||||||
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| Total liabilities |
7,101,578 | 6,430,555 | ||||||
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| Commitments and contingencies |
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| Stockholders’ equity: |
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| 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 |
11,432,182 | 11,316,595 | ||||||
| Retained earnings |
77,695,175 | 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 |
56,517,686 | 60,714,843 | ||||||
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| Total liabilities and stockholders’ equity |
$ | 63,619,264 | $ | 67,145,398 | ||||
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NOBILITY HOMES, INC.
Condensed Consolidated Statements of Income
(Unaudited)
| Three Months Ended | Six Months Ended | |||||||||||||||
| May 2, | May 3, | May 2, | May 3, | |||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net sales |
$ | 12,410,560 | $ | 14,757,337 | $ | 22,913,406 | $ | 26,999,079 | ||||||||
| Cost of sales |
(8,780,363 | ) | (10,125,921 | ) | (16,086,103 | ) | (18,396,878 | ) | ||||||||
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| Gross profit |
3,630,197 | 4,631,416 | 6,827,303 | 8,602,201 | ||||||||||||
| Selling, general and administrative expenses |
(1,532,710 | ) | (1,889,197 | ) | (2,902,366 | ) | (3,565,847 | ) | ||||||||
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| Operating income |
2,097,487 | 2,742,219 | 3,924,937 | 5,036,354 | ||||||||||||
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| Other income (expense) |
||||||||||||||||
| Interest income |
217,606 | 298,318 | 473,455 | 583,596 | ||||||||||||
| Undistributed earnings in joint venture - Majestic 21 |
14,790 | 21,462 | 40,981 | 47,269 | ||||||||||||
| Proceeds received under escrow arrangement |
36,868 | 42,066 | 58,314 | 80,218 | ||||||||||||
| Decrease in fair market value of equity investment |
(70,032 | ) | (96,104 | ) | (30,166 | ) | (99,020 | ) | ||||||||
| Gain on disposal of property, plant and equipment |
— | 1,000 | 1,000 | 1,000 | ||||||||||||
| Miscellaneous |
60,025 | 16,965 | 69,355 | 25,722 | ||||||||||||
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| Total other income |
259,257 | 283,707 | 612,939 | 638,785 | ||||||||||||
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| Income before provision for income taxes |
2,356,744 | 3,025,926 | 4,537,876 | 5,675,139 | ||||||||||||
| Income tax expense |
(597,317 | ) | (733,606 | ) | (1,150,123 | ) | (1,402,397 | ) | ||||||||
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| Net income |
$ | 1,759,427 | $ | 2,292,320 | $ | 3,387,753 | $ | 4,272,742 | ||||||||
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| Weighted average number of shares outstanding: |
||||||||||||||||
| Basic |
3,153,665 | 3,268,991 | 3,202,017 | 3,268,910 | ||||||||||||
| Diluted |
3,158,972 | 3,276,400 | 3,207,761 | 3,276,808 | ||||||||||||
| Net income per share: |
||||||||||||||||
| Basic |
$ | 0.56 | $ | 0.70 | $ | 1.06 | $ | 1.31 | ||||||||
| Diluted |
$ | 0.56 | $ | 0.70 | $ | 1.06 | $ | 1.30 | ||||||||