Nobility Homes, Inc. reported a decrease in sales and earnings for the third quarter of 2025 compared to the same period in 2024.
The company's net income after taxes also declined in Q3 2025.
Despite challenges in the housing market, Nobility Homes, Inc. maintained a strong financial position during the third quarter of 2025.
Sales Decline
Sales for Q3 2025 were $12.0 million, down from $13.8 million in Q3 2024.
Net Income Decrease
Net income after taxes for Q3 2025 was $1.8 million, lower than $2.2 million in the same period last year.
Financial Position Strength
Nobility Homes, Inc. maintained a strong financial position with cash and cash equivalents of $27.1 million and no outstanding debt in Q3 2025.
Challenges Ahead
The company anticipates ongoing challenges in fiscal year 2025 and into 2026 due to higher interest rates, economic uncertainty, back orders, price increases, tariffs, and labor shortages.
Market Slowdown
The demand for affordable manufactured housing in Florida and the U.S. has slowed, impacting the industry as a whole.
- Nobility Homes, Inc. faced a decrease in total net sales during the first nine months of 2025 compared to 2024.
- Factors contributing to the sales decline included challenges from interest rates, supply chain delays, back orders, and inflation in building products.
- The company anticipates these challenges to persist throughout fiscal year 2025 and into fiscal 2026, impacting the housing market.
Despite facing market challenges and a decline in sales, Nobility Homes, Inc. remains committed to its long-term growth strategy and maintaining its strong financial position. The company's vertical integration and focus on affordable housing in Florida position it well for future opportunities and success in the industry.