OCALA, FL / ACCESS Newswire / 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 | ||||||
| Total assets | $ | 65,382,420 | $ | 67,145,398 | ||||
| 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 | ||||||
| Total current liabilities | 6,884,848 | 6,396,486 | ||||||
| Deferred income taxes | 76,904 | 34,069 | ||||||
| Total liabilities | 6,961,752 | 6,430,555 | ||||||
| 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 | ) | ||||
| Total stockholders' equity | 58,420,668 | 60,714,843 | ||||||
| Total liabilities and stockholders' equity | $ | 65,382,420 | $ | 67,145,398 | ||||
| NOBILITY HOMES, INC. | ||||||||||||||||
| Condensed Consolidated Statements of Income | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| August 1, | August 2, | August 1, | August 2, | |||||||||||||
| 2026 | 2025 | 2026 | 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 | ) | ||||||||
| 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 | ) | ||||||||
| Operating income | 2,107,869 | 2,177,601 | 6,032,806 | 7,213,955 | ||||||||||||
| 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 | |||||||||||
| Total other income | 386,587 | 315,516 | 999,526 | 954,301 | ||||||||||||
| 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 | ) | ||||||||
| Net income | $ | 1,896,342 | $ | 1,825,271 | $ | 5,284,095 | $ | 6,098,013 | ||||||||
| 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 | ||||||||
SOURCE: Nobility Homes, Inc.
View the original press release on ACCESS Newswire