Nobility Homes, Inc. Announces Sales and Earnings for its Second Quarter 2026
Rhea-AI Summary
Nobility Homes (OTCQX:NOBH) reported lower Q2 2026 results. Net sales were $12.4 million versus $14.8 million a year earlier; net income was $1.8 million versus $2.3 million, with EPS of $0.56 versus $0.70.
For the first six months, sales were $22.9 million versus $27.0 million, and net income was $3.4 million versus $4.3 million, EPS $1.06 versus $1.31. The company reports $24.2 million in cash, CDs and short-term investments, no debt, working capital of $42.6 million, and stockholders' equity of $56.5 million (book value $17.92 per share).
Positive
- Cash, certificates of deposit and short-term investments total $24.2 million with no outstanding debt
- Working capital of $42.6 million and current ratio of 7.1:1
- Stockholders' equity of $56.5 million and book value of $17.92 per share
Negative
- Q2 2026 net sales declined to $12.4 million from $14.8 million in Q2 2025
- Q2 2026 net income decreased to $1.8 million from $2.3 million a year earlier
- First-half 2026 sales were $22.9 million versus $27.0 million in first-half 2025
- First-half 2026 net income was $3.4 million compared with $4.3 million last year
- Company sold 93 new retail homes versus 132, offset by 121 homes to dealers versus 92 with lower margins
- Management cites ongoing headwinds from higher interest rates, material cost inflation, supply delays and labor shortages
AI-generated analysis. How Rhea-AI works. Not financial advice.
OCALA, FL / ACCESS Newswire / 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
For the first six months of fiscal 2026, sales were
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
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
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, | November 1, | ||||||||
2026 | 2025 | ||||||||
(Unaudited) | |||||||||
Assets | |||||||||
Current assets: | |||||||||
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 | |||||||
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 | |||||||
Total assets | $ | 63,619,264 | $ | 67,145,398 | |||||
Liabilities and Stockholders' Equity | |||||||||
Current liabilities: | |||||||||
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 | |||||||
Total current liabilities | 7,019,435 | 6,396,486 | |||||||
Deferred income taxes | 82,143 | 34,069 | |||||||
Total liabilities | 7,101,578 | 6,430,555 | |||||||
Commitments and contingencies | |||||||||
Stockholders' equity: | |||||||||
Preferred stock, | |||||||||
authorized; none issued and outstanding | - | - | |||||||
Common stock, | |||||||||
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 | ) | |||||
Total stockholders' equity | 56,517,686 | 60,714,843 | |||||||
Total liabilities and stockholders' equity | $ | 63,619,264 | $ | 67,145,398 | |||||
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 | ) | ||||||||
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 | ) | ||||||||
Operating income | 2,097,487 | 2,742,219 | 3,924,937 | 5,036,354 | ||||||||||||
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 | ||||||||||||
Total other income | 259,257 | 283,707 | 612,939 | 638,785 | ||||||||||||
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 | ) | ||||||||
Net income | $ | 1,759,427 | $ | 2,292,320 | $ | 3,387,753 | $ | 4,272,742 | ||||||||
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 | ||||||||
SOURCE: Nobility Homes, Inc.
View the original press release on ACCESS Newswire