Nobility Homes Reports Decline in Revenue and Net Income for Q3 and Nine Months of Fiscal 2025

Nobility Homes, Inc. reported its financial results for the third quarter and the first nine months of fiscal 2025, revealing a decline in both revenue and net income compared to the same periods in the previous year. For the three months ended August 2, 2025, the company generated net sales of $12.02 million, down from $13.80 million in the same quarter of 2024. The nine-month figures also reflected a decrease, with total net sales of $39.02 million compared to $40.10 million in the prior year. Net income for the third quarter was $1.83 million, or $0.56 per share, compared to $2.19 million, or $0.67 per share, in the third quarter of 2024. For the nine months, net income was $6.10 million, or $1.87 per share, down from $6.55 million, or $2.00 per share, in the same period last year.

The decline in sales and profitability was attributed to a decrease in the number of new retail homes sold through company-owned sales centers, which fell from 232 units in the first nine months of 2024 to 195 units in 2025. This was partially offset by an increase in homes sold to independent dealers, although these sales typically yield lower margins. The company noted that higher interest rates and economic uncertainty have led potential customers to delay purchasing decisions. Additionally, supply chain issues, including delays in key production materials and rising costs due to inflation, have further impacted operations.

Operationally, Nobility Homes reported a decrease in customer engagement, with total new factory-built homes produced dropping from 291 in the first nine months of 2024 to 301 in 2025. The average price of new manufactured homes sold at retail increased to $155,540 from $147,979, while the average wholesale price rose to $69,683 from $67,348. The company maintained a strong balance sheet, with total assets of approximately $65.6 million and stockholders' equity of about $58.7 million as of August 2, 2025. Cash and cash equivalents increased to $14.36 million from $13.52 million at the end of the previous fiscal year.

Looking ahead, Nobility Homes anticipates continued challenges due to the current economic environment, including inflation and supply chain disruptions. The company remains focused on maintaining its financial position and believes that the demand for affordable manufactured housing will eventually rebound. Management expressed confidence in the long-term growth potential of the Florida market, where the company has operated for over 58 years. Despite the current downturn, Nobility Homes is committed to navigating these challenges while continuing to serve its customer base effectively.