Nobility Homes Reports Mixed Financial Results for Third Quarter and First Nine Months of Fiscal 2026

Nobility Homes, Inc. reported its financial results for the third quarter and the first nine months of fiscal 2026, revealing a mixed performance compared to the previous year. For the three months ended August 1, 2026, the company achieved net sales of $12.1 million, a slight increase from $12.0 million in the same period of 2025. However, for the nine months ending August 1, 2026, total net sales decreased to $35.1 million from $39.0 million in the prior year. The company’s net income for the third quarter rose to $1.9 million, or $0.60 per share, compared to $1.8 million, or $0.56 per share, in the same quarter last year. For the nine-month period, net income fell to $5.3 million, or $1.66 per share, down from $6.1 million, or $1.87 per share, in 2025.

The decline in sales for the first nine months of 2026 was attributed to a decrease in the number of new retail homes sold through company-owned sales centers, which dropped to 137 homes from 195 homes in the previous year. This was partially offset by an increase in homes sold to independent dealers, which rose to 184 homes from 129 homes. The company noted that higher interest rates and economic uncertainty have led potential customers to delay purchasing decisions or opt for lower-cost homes. Additionally, supply chain issues, including delays in receiving key production materials and inflation in building product costs, have impacted the company’s operations.

Operationally, Nobility Homes reported a gross profit of $3.5 million for the third quarter, down from $3.8 million in the same quarter of 2025, resulting in a gross profit margin of 29%, compared to 32% in the prior year. Selling, general, and administrative expenses decreased to $1.4 million in the third quarter from $1.7 million in the same period last year, reflecting a reduction in costs associated with lower sales volumes. The company’s total assets as of August 1, 2026, were approximately $65.4 million, with stockholders’ equity at about $58.4 million.

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 strong financial position and leveraging its experience in the Florida market, which it believes is a long-term growth area. The company has no current debt and does not foresee the need for a line of credit, indicating a stable liquidity position with cash and cash equivalents of $13.4 million as of the reporting date. Nobility Homes continues to monitor market conditions and adjust its strategies accordingly to navigate the evolving landscape.