Nobility Homes Revenue Falls 14% to $10.5M in Q1 Fiscal 2026

Nobility Homes Inc., a Florida-based manufactured housing company, reported total revenue of $10.5 million for the three months ending January 31, 2026, down 14% from $12.2 million in the prior-year quarter. Net income for the period fell 18% to $1.6 million from $2.0 million. Read more earnings reports.

The company's operating income for the quarter came in at $1.8 million, a decline of 20% from $2.3 million in the three months ending February 1, 2025. Gross profit narrowed to $3.2 million from $4.0 million, reflecting a contraction in margins as cost of goods sold represented a larger share of revenue.

Selling, general and administrative expenses dropped to $1.4 million from $1.7 million, a 18% reduction compared to the year-ago period. Income tax expense declined in tandem with lower pre-tax income, falling to $552,806 from $668,791.

Diluted earnings per share came in at $0.50 for the quarter, down from $0.60 in the same period last year. The company had 3.3 million weighted average diluted shares outstanding for the period.

Cash and cash equivalents stood at $11.1 million as of January 31, 2026, down from $13.2 million at the start of the fiscal year on November 1, 2025. The company generated $1.8 million in cash from operations during the quarter, compared to $2.4 million in the prior-year period.

Cash from financing activities showed a $3.0 million outflow for the quarter, while the year-ago period had no financing activity. Investing activities consumed $1.0 million during the quarter, compared to a positive $351,922 in the prior year.

Total assets declined to $65.9 million as of January 31, 2026, from $67.1 million at the start of the fiscal year. Stockholders' equity fell to $59.4 million from $60.7 million, reflecting the impact of share buybacks that increased treasury stock to $33.1 million from $30.2 million.

Inventory levels rose slightly to $20.3 million from $19.7 million, while accounts receivable declined to $4.0 million from $4.6 million. Current liabilities edged up to $6.5 million from $6.4 million.

Common shares outstanding decreased to 3.15 million as of January 31, 2026, from 3.25 million at the start of the fiscal year, reflecting the company's ongoing share repurchase activity.