NOBILITY HOMES INC - NOBH STOCK NEWS

Nobility Homes (OTCQX:NOBH) reported its Q3 2024 financial results. Sales decreased to $13.8 million from $14.7 million in Q3 2023. Net income fell to $2.2 million ($0.67 per diluted share) from $2.7 million ($0.80 per share) last year. For the first nine months of 2024, sales were $40.1 million, down from $48.6 million in 2023. Net income decreased to $6.5 million ($2.00 per diluted share) from $8.6 million ($2.56 per share).

The company maintains a strong financial position with $26.5 million in cash and investments and no debt. Challenges include decreased retail home sales, production of lower-priced homes due to higher mortgage rates, supply chain issues, and labor shortages. These factors are expected to impact performance through 2024 and potentially into 2025.

Nobility Homes (OTCQX:NOBH) reported its financial results for Q2 2024, ending May 4, 2024. Sales were $11.5 million, down from $16.8 million in Q2 2023. Operating income stood at $2.3 million, a decline from $3.7 million in the same quarter last year. Net income after taxes was $2.0 million, compared to $2.9 million in Q2 2023. Diluted earnings per share were $0.62, down from $0.85 last year.

For the first six months of 2024, sales were $26.3 million versus $33.9 million in the previous year. Operating income was $5.0 million, down from $7.6 million, and net income was $4.4 million versus $5.9 million last year. Diluted earnings per share were $1.33, compared to $1.75 last year.

The company's financial position remains strong with $23.5 million in cash and no debt. Working capital is $38.7 million, and stockholders' equity is $52.3 million. The book value per share stands at $15.99. President Terry Trexler attributed declines to higher interest rates, material and labor shortages, and inflation in building products. The company anticipates these challenges to persist throughout the second half of 2024.

On June 6, 2024, Nobility Homes (OTCQX:NOBH) reported its first quarter 2024 financial results. Sales dropped to $14.8 million from $17.1 million in Q1 2023, while income from operations fell to $2.7 million, compared to $3.8 million in the prior year. Net income after taxes was $2.3 million, down from $3.0 million the previous year, and diluted earnings per share decreased to $0.71 from $0.91.

Despite these declines, Nobility Homes maintains strong financial health with $27.4 million in cash and investments, no debt, working capital of $41.6 million, and a current ratio of 5.2:1. Stockholders' equity stands at $55 million, with a book value per share of $16.85. Challenges cited include high mortgage interest rates, material shortages, and labor constraints, which have delayed home production and setup.

The company remains optimistic about long-term growth prospects in the affordable housing market in Florida and the U.S., despite current headwinds.

Nobility Homes, Inc. announces first quarter 2024 sales of $14.8 million, down from $17.1 million in 2023. The company's financial position remains strong with $27.4 million in cash and no debt. Stockholders' equity is $55.0 million, and a one-time cash dividend of $1.50 per share was declared for fiscal year 2023.

Nobility Homes, Inc. (NOBH) announced record sales for fiscal year 2023, with a 23% increase to $63.3 million compared to $51.5 million in fiscal year 2022. The company reported $14.7 million in sales for the fourth quarter of fiscal 2023, down from $16.2 million in the same period last fiscal year. The financial position remained strong with $24.6 million in cash and cash equivalents, $37.9 million in working capital, and no outstanding debt. However, the company's Annual Report on Form 10-K will be delayed due to ongoing financial audit procedures. Supply chain challenges and inflation in building products have impacted sales and increased material and labor costs. The company expects these challenges to continue throughout fiscal 2024 and beyond. The current demand for affordable manufactured housing in Florida and the U.S. is slowing, potentially due to the interest rate environment. Management believes that the company's experience in the Florida market and the increased need for affordable housing will be beneficial for future growth and success.

Nobility Homes, Inc. announced sales and earnings for Q3 2023. Sales increased 6% to $14.7 million compared to Q3 2022. Income from operations increased 39% to $3.1 million. Net income after taxes increased 41% to $2.7 million. For the first nine months of fiscal 2023, sales increased 38% to $48.6 million. Income from operations increased 106% to $10.7 million. Net income after taxes increased 91% to $8.6 million. The current demand for affordable manufactured housing in Florida is slowing. Shipments for the industry in Florida declined by approximately 15% from the same period last year.

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.