# EDGAR Filing Document

**Accession Number:** 0000072205
**File Stem:** 0001193125-25-203439
**Filing Date:** 2025-9
**Character Count:** 55271
**Document Hash:** 18b8885aa233d811aafe6a05663026f0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-203439.hdr.sgml**: 20250915

**ACCESSION NUMBER**: 0001193125-25-203439

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 40

**CONFORMED PERIOD OF REPORT**: 20250802

**FILED AS OF DATE**: 20250915

**DATE AS OF CHANGE**: 20250915

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NOBILITY HOMES INC
- **CENTRAL INDEX KEY:** 0000072205
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOBILE HOMES [2451]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 591166102
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1105

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-06506
- **FILM NUMBER:** 251314150

**BUSINESS ADDRESS:**
- **STREET 1:** 3741 S W 7TH ST
- **CITY:** OCALA
- **STATE:** FL
- **ZIP:** 34474
- **BUSINESS PHONE:** 3527325157

**MAIL ADDRESS:**
- **STREET 1:** 3741 SW 7TH STREET
- **CITY:** OCALA
- **STATE:** FL
- **ZIP:** 34474

?xml version='1.0' encoding='ASCII'? 10-Q

[**<u>**Table of Contents**</u>**](#toc_page)

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM** 10-Q

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**Quarterly Report Pursuant to Section 13 or 15 (d)** 

**of the Securities Exchange Act of 1934** 

**For the quarterly period ended** **August 2,** 2025

**Commission File number** 000-06506

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NOBILITY HOMES, INC.

**(Exact name of registrant as specified in its charter)** 

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---

| | |
|:---|:---|
| Florida | 59-1166102 |
| **(State or other jurisdiction of**<br>**incorporation or organization)** | **(I.R.S. Employer**<br>**Identification No.)** |
| 3741 S.W. 7th Street<br>Ocala**,** Florida | 34474 |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

(352**)** 732-5157

**(Registrant's telephone number, including area code)** 

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**Securities registered pursuant to Section 12(b) of the Act: None** 

---

| | | |
|:---|:---|:---|
| **Title of Each Class** | &nbsp;&nbsp;&nbsp;**Trading Symbol(s)** | &nbsp;&nbsp;&nbsp;**Name of each/Exchange on**<br>**Which Registered** |
| **Common Stock, $0.10 Par Value** | **NOBH** | **OTCQX** |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒; No ☐.

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒; No ☐.

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
|  |  | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐; No ☒.

Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date.

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[**<u>**Table of Contents**</u>**](#toc_page)

---

| | |
|:---|:---|
| **Title of Class** | **Shares Outstanding on**<br>**September 9, 2025** |
| Common Stock | **3,268,998** |

---

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[**<u>**Table of Contents**</u>**](#toc_page)

**NOBILITY HOMES, INC.** 

**INDEX** 

---

| | | |
|:---|:---|:---|
|  |  | **Page<br>Number** |
| **PART I.** | <u>Financial Information</u> |  |
| Item 1. | <u>Financial Statements (Unaudited)</u> |  |
|  | [<u>Condensed Consolidated Balance Sheets as of August 2, 2025</u>](#balance_sheets)[<u>(Unaudited) and November 2, 2024</u>](#balance_sheets) | 4 |
|  | [<u>Condensed Consolidated Statements of Income for the three and nine months ended August 2, 2025 (Unaudited) and August 3, 2024 (Unaudited)</u>](#statements_of_income) | 5 |
|  | [<u>Condensed Consolidated Statements of Changes in Stockholders' Equity for the three and nine months ended August 2, 2025 (Unaudited) and August 3, 2024 (Unaudited)</u>](#stockholder_equity) | 6 |
|  | [<u>Condensed Consolidated Statements of Cash Flows for the nine months ended August 2, 2025 (Unaudited) and August 3, 2024 (Unaudited)</u>](#cash_flows) | 7 |
|  | [<u>Notes to Condensed Consolidated Financial Statements (Unaudited)</u>](#notes_to_condensed_financial_statements) | 8 |
| Item 2. | [<u>Management's Discussion and Analysis of Financial Condition and Results of Operations</u>](#managements_discussion_and_analysis) | 11 |
| Item 4. | [<u>Controls and Procedures</u>](#controls_and_procedures) | 13 |
| **PART II.** | [<u>Other Information</u>](#other_information) | 14 |
| Item 2. | [<u>Unregistered Sales of Equity Securities and Use of Proceeds</u>](#unregistered_sales_of_equity) | 14 |
| Item 5. | [<u>Other Information</u>](#item_5) | 14 |
| Item 6. | [<u>Exhibits</u>](#exhibits) | 14 |
| [<u>Signatures</u>](#signatures) | [<u>Signatures</u>](#signatures) | 15 |

---

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[**<u>**Table of Contents**</u>**](#toc_page)

NOBILITY HOMES, INC.

Condensed Consolidated Balance Sheets

---

| | | |
|:---|:---|:---|
|  | August 2,<br>2025 | November 2,<br>2024 |
|  | (Unaudited) |  |
| Assets |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $14362469 | $13521296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certificates of deposit | 12174266 | 13021839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments at fair value | 564681 | 680017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable - trade | 2767428 | 2935517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage notes receivable | 4176 | 4505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 19812206 | 21039344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 2037995 | 1727034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 51723221 | 52929552 |
| Property, plant and equipment, net | 8328074 | 8280695 |
| Mortgage notes receivable, less current portion | 141597 | 141728 |
| Other investments | 536524 | 463633 |
| Property held for resale | 26590 | 26590 |
| Deferred income taxes | 42867 | 60628 |
| Cash surrender value of life insurance | 4692813 | 4539813 |
| Other assets | 156287 | 156287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $65647973 | $66598926 |
| Liabilities and Stockholders' Equity |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $455367 | $753317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued compensation | 744844 | 800013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | 1497054 | 1826042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable | 624784 | 692303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer deposits | 3601403 | 5930728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 6923452 | 10002403 |
| Commitments and contingencies |  |  |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, $.10 par value, 500,000 shares authorized; none issued<br> and outstanding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock, $.10 par value, 10,000,000 shares authorized; 5,364,907<br> shares issued; 3,268,998 and 3,268,829 shares outstanding, respectively | 536491 | 536491 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid in capital | 11254519 | 11140687 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 76689549 | 74677783 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less treasury stock at cost, 2,095,909 and 2,096,078 shares, respectively | (29756038) | (29758438) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 58724521 | 56596523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $65647973 | $66598926 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

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[**<u>**Table of Contents**</u>**](#toc_page)

NOBILITY HOMES, INC.

Condensed Consolidated Statements of Income

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended |
|  | August 2,<br>2025 | August 3,<br>2024 | August 2,<br>2025 | August 3,<br>2024 |
| Net sales | $12021194 | $13803340 | $39020273 | $40099316 |
| Cost of sales | (8173008) | (9196740) | (26569886) | (26589976) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 3848186 | 4606600 | 12450387 | 13509340 |
| Selling, general and administrative expenses | (1670585) | (2032973) | (5236432) | (5976683) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income | 2177601 | 2573627 | 7213955 | 7532657 |
| Other income (expense): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | 270139 | 318253 | 853735 | 836113 |
| &nbsp;&nbsp;&nbsp;&nbsp;Undistributed earnings in joint venture - Majestic 21 | 25624 | 24914 | 72893 | 67623 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds received under escrow arrangement | 36094 | 47339 | 116312 | 147155 |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in fair value of short term investments | (16316) | (11214) | (115336) | 90329 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposal of property, plant and equipment |  | 3000 | 1000 | 3000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous | (25) | (28706) | 25697 | 96422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other income | 315516 | 353586 | 954301 | 1240642 |
| Income before provision for income taxes | 2493117 | 2927213 | 8168256 | 8773299 |
| Income tax expense | (667846) | (741901) | (2070243) | (2223591) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | $1825271 | $2185312 | $6098013 | $6549708 |
| Weighted average number of shares outstanding: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 3268998 | 3268829 | 3268939 | 3268829 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 3274456 | 3277856 | 3276061 | 3278742 |
| Net income per share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.56 | $0.67 | $1.87 | $2.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $0.56 | $0.67 | $1.86 | $2.00 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

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[**<u>**Table of Contents**</u>**](#toc_page)

NOBILITY HOMES, INC.

Condensed Consolidated Statements of Changes in Stockholders' Equity

For the three and nine months ended August 2, 2025 and August 3, 2024

(Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Common<br>Stock Shares** | **Common<br>Stock** | **Additional<br>Paid-in-Capital** | **Retained<br>Earnings** | **Treasury<br>Stock** | **Total** |
| Balance at November 2, 2024 | 3268829 | $536491 | $11140687 | $74677783 | $(29758438) | $56596523 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  | 40254 |  |  | 40254 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income |  |  |  | 1980422 |  | 1980422 |
| Balance at February 1, 2025 | 3268829 | 536491 | 11180941 | 76658205 | (29758438) | 58617199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash dividend $1.25 per |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; common share |  |  |  | (4086247) |  | (4086247) |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 169 |  | 38124 |  | 2400 | 40524 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income |  |  |  | 2292320 |  | 2292320 |
| Balance at May 3, 2025 | 3268998 | 536491 | 11219065 | 74864278 | (29756038) | 56863796 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  | 35454 |  |  | 35454 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income |  |  |  | 1825271 |  | 1825271 |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance at August 2, 2025 | 3268998 | $536491 | $11254519 | $76689549 | $(29756038) | $58724521 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Common<br>Stock Shares** | **Common<br>Stock** | **Additional<br>Paid-in-Capital** | **Retained<br>Earnings** | **Treasury<br>Stock** | **Total** |
| Balance at November 4, 2023 | 3269075 | $536491 | $10964985 | $70969764 | $(29754942) | $52716298 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | (246) |  | 36716 |  | (3496) | 33220 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income |  |  |  | 2338437 |  | 2338437 |
| Balance at February 3, 2024 | 3268829 | 536491 | 11001701 | 73308201 | (29758438) | 55087955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash dividend $1.50 per |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; common share |  |  |  | (4903243) |  | (4903243) |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  | 48959 |  |  | 48959 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income |  |  |  | 2025959 |  | 2025959 |
| Balance at May 4, 2024 | 3268829 | $536491 | $11050660 | $70430917 | $(29758438) | $52259630 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  | 46518 |  |  | 46518 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income |  |  |  | 2185312 |  | 2185312 |
| Balance at August 3, 2024 | 3268829 | $536491 | $11097178 | $72616229 | $(29758438) | $54491460 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

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[**<u>**Table of Contents**</u>**](#toc_page)

NOBILITY HOMES, INC.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | Nine Months Ended | Nine Months Ended |
|  | August 2,<br>2025 | August 3,<br>2024 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $6098013 | $6549708 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating<br> activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 127728 | 117765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 17763 | (23237) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Undistributed earnings in joint venture - Majestic 21 | (72893) | (67623) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on disposal of property, plant and equipment | (1000) | (3000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return on investment in joint venture-Majestic 21 |  | 1600889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease (increase) in fair value of equity investments | 115336 | (90329) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 116232 | 128697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Decrease (increase) in: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable - trade | 168089 | 811258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 1227138 | 1130609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | (310961) | 87118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest receivable | (419700) | (420777) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Decrease) increase in: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (297950) | 19418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued compensation | (55169) | (19709) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | (328988) | (574805) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable | (67519) | 186828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer deposits | (2329325) | (2755087) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 3986794 | 6677723 |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchase of property, plant and equipment | (175107) | (170369) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchase of certificates of deposit | (7500000) | (7804000) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchase of property held for resale |  | (38880) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from certificates of deposit | 8366000 | 5286000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from disposal of property, plant and equipment | 1000 | 3000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Collections on interest receivable | 401273 | 254230 |
| &nbsp;&nbsp;&nbsp;&nbsp;Collections on mortgage notes receivable | 460 | 306 |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase in cash surrender value of life insurance | (153000) | (132075) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) investing activities | 940626 | (2601788) |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment of cash dividend | (4086247) | (4903243) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash (used in) financing activities | (4086247) | (4903243) |
| Decrease in cash and cash equivalents | 841173 | (827308) |
| Cash and cash equivalents at beginning of period | 13521296 | 13879358 |
| Cash and cash equivalents at end of period | $14362469 | $13052050 |
| Supplemental disclosure of cash flows information: |  |  |
| Income taxes paid | $2120000 | $2060000 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

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[**<u>**Table of Contents**</u>**](#toc_page)

Nobility Homes, Inc.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Note 1 Basis of Presentation and Accounting Policies

The accompanying unaudited condensed consolidated financial statements for the three and nine months ended August 2, 2025 and August 3, 2024 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q.

Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.

The unaudited financial information included in this report includes all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary to reflect a fair statement of the results for the interim periods. The results of operations for the three and nine months ended August 2, 2025, are not necessarily indicative of the results of the full fiscal year.

The condensed consolidated financial statements included in this report should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended November 2, 2024.

Note 2 Recently Issued Accounting Standards

In November 2023, the FASB issued Accounting Standards Update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", which expands disclosures about a public entity's reportable segments and requires more enhanced information about a reportable segment's expenses, interim segment profit or loss, and how a public entity's chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. The update will be effective for fiscal years beginning after December 15, 2023 (fiscal 2025) and interim periods with fiscal years beginning after December 15, 2024 (fiscal 2026). We are assessing the effect of this update on our consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures", which expands disclosures in an entity's income tax rate reconciliation table and regarding cash taxes paid to the U.S. Government. The update will be effective for annual periods beginning after December 15, 2024 (fiscal 2026). We are assessing the effect of this update on our consolidated financial statements.

Note 3 Inventories

New home inventory is carried at a lower of cost or net realizable value. Capitalized manufacturing costs on retail manufactured homes built by the company are valued at manufacturing cost, including materials, labor, and manufacturing overhead, or net purchase price if acquired from unaffiliated third parties. The cost of finished home inventories determined on the specific identification method is removed from inventories and recorded as a component of cost of sales at the time revenue is recognized. Under the specific identification method, if finished home inventory can be sold for a profit there is no basis to write down the inventory below the lower of cost or net realizable value.

Other pre-owned homes are acquired (Repossessions Inventory) as a convenience to the Company's joint venture partner, 21st Mortgage Corporation. This inventory has been repossessed by 21<sup>st</sup> Mortgage Corporation. The Company acquired this inventory at the amount of the uncollected balance of the financing at the time of the foreclosure/repossessions by 21st Mortgage Corporation. The Company records this inventory at a cost determined by the specific identification method. All of the refurbishment costs are paid by 21<sup>st</sup>Mortgage Corporation. This arrangement assists 21<sup>st</sup> Mortgage Corporation with liquidation of their repossessed inventory. The timing of these repurchases by the Company is unpredictable as it is based on the repossessions 21<sup>st</sup> Mortgage Corporation incurs in the portfolio. When the home is sold, the Company retains the cost of the home, an interest factor on the cost of the home and a sales commission, from the sales proceeds. Any additional proceeds are paid to 21<sup>st</sup> Mortgage. Any shortfall from the proceeds to cover these amounts is paid by 21<sup>st</sup> Mortgage to the Company. As the Company has no risk of loss on the sale, there is no valuation allowance necessary for repossessions inventory.

Inventory held at consignment locations by affiliated entities is included in the Company's inventory on the Company's consolidated balance sheets.

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[**<u>**Table of Contents**</u>**](#toc_page)

Pre-owned homes are also taken as trade-ins on new home sales (Trade-in Inventory). This inventory is recorded at estimated actual wholesale value, which is generally lower than market value, determined on the specific identification method, plus refurbishment costs incurred to date to bring the inventory to a more saleable state. The Trade-in Inventory amount is reduced where necessary on a unit specific basis by a valuation reserve, which management believes results in inventory being valued at net realizable value.

Other inventory costs are determined on a first-in, first-out basis.

A breakdown of the elements of inventory at August 2, 2025 and November 2, 2024 is as follows:

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| | | |
|:---|:---|:---|
|  | August 2, | November 2, |
|  | 2025 | 2024 |
|  | (unaudited) |  |
| Raw materials | $1211137 | $1180659 |
| Work-in-process | 154294 | 144959 |
| Finished homes - Nobility | 11962065 | 12126215 |
| Finished homes - Other Manufacturers | 5096702 | 6349717 |
| Pre-owned homes | 1133846 | 962209 |
| Model home furniture | 254162 | 275585 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | $19812206 | $21039344 |

---

Note 4 Short-term Investments

The following is a summary of short-term investments at August 2, 2025 and November 2, 2024.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | August 2, 2025 | August 2, 2025 | August 2, 2025 | August 2, 2025 |
|  | (unaudited) | (unaudited) | (unaudited) | (unaudited) |
|  | Cost | Gross<br>Unrealized<br>Gains | Gross<br>Unrealized<br>Losses | Estimated<br>Fair Value |
| Equity securities in a public company | $167930 | $396751 | $— | $564681 |

---

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| | | | | |
|:---|:---|:---|:---|:---|
|  | November 2, 2024 | November 2, 2024 | November 2, 2024 | November 2, 2024 |
|  | Cost | Gross<br>Unrealized<br>Gains | Gross<br>Unrealized<br>Losses | Estimated<br>Fair Value |
| Equity securities in a public company | $167930 | $512087 | $— | $680017 |

---

The fair values were estimated based on quoted market prices in active markets at each respective period end.

Note 5 Fair Value of Financial Instruments

The carrying amount of cash and cash equivalents, accounts and notes receivable, accounts payable, customer deposits and accrued expenses approximate fair value because of the short maturity of those instruments.

The Company accounts for the fair value of financial instruments in accordance with FASB Accounting Standards Codification (ASC) No. 820 "Fair Value Measurements" (ASC 820).

ASC 820 defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability (i.e. exit price) in an orderly transaction between market participants at the measurement date. ASC 820 requires disclosures that categorize assets and liabilities measured at fair value into one of three different levels depending on the assumptions (i.e. inputs) used in the valuation. Financial assets and liabilities are classified in their entirety based on the lowest level of input significant to the fair value measurement. The ASC 820 fair value hierarchy is defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Level 1 - Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Level 2 - Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Level 3 - Valuations are based on prices or valuation techniques that require inputs that are both observable and significant to the overall fair value measurement. Inputs reflect management's best estimate of what market participants would use in valuing the asset or liability at the measurement date.

The following tables represent the Company's financial assets and liabilities which are carried at fair value at August 2, 2025 and November 2, 2024.

---

| | | | |
|:---|:---|:---|:---|
|  | August 2, 2025 | August 2, 2025 | August 2, 2025 |
|  | (unaudited) | (unaudited) | (unaudited) |
|  | Level 1 | Level 2 | Level 3 |
| Equity securities in a public company | $564681 | $— | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | November 2, 2024 | November 2, 2024 | November 2, 2024 |
|  | Level 1 | Level 2 | Level 3 |
| Equity securities in a public company | $680017 | $— | $— |

---

Note 6 Net Income per Share

These condensed consolidated financial statements include "basic" and "diluted" net income per share information for all periods presented. The basic net income per share is calculated by dividing net income by the weighted average number of shares outstanding (see the condensed consolidated statement of income for weighted average shares outstanding for each period). The diluted net income per share is calculated by dividing net income by the weighted-average number of shares outstanding, adjusted for dilutive common shares, which are the result of outstanding stock options. For the three-month periods ended August 2, 2025 and August 3, 2024, the Company had 80,650 and 45,400 unexercised stock options outstanding, respectively, that were anti-dilutive. For the nine-month periods ended August 2, 2025 and August 3, 2024, the Company had 80,650 and 15,550 unexercised stock options outstanding, respectively, that were anti-dilutive.

Note 7 Revenues by Products and Services

The Company operates in one business segment, which is manufactured housing and ancillary services.

Revenues by net sales from manufactured housing homes and insurance agent commissions for the three and nine months ended August 2, 2025 and August 3, 2024 are as follows.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | (unaudited) | (unaudited) | (unaudited) | (unaudited) |
|  | Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended |
|  | August 2, | August 3, | August 2, | August 3, |
|  | 2025 | 2024 | 2025 | 2024 |
| Manufactured housing |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Homes sold through Company owned sales<br> centers | $9748377 | $11566672 | $30359905 | $34675491 |
| &nbsp;&nbsp;&nbsp;&nbsp;Homes sold to independent dealers and<br> through manufactured home parks, net | 2171133 | 2147965 | 8422881 | 5163942 |
|  | 11919510 | 13714637 | 38782786 | 39839433 |
| Insurance agent commissions | 101684 | 88703 | 237487 | 259883 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total net sales | $12021194 | $13803340 | $39020273 | $40099316 |

---

Note 8 Subsequent Event

On August 8, 2025, the Company repurchased 9,200 shares of its common stock on the open market for an aggregate of $243,800.

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**Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations** 

**Results of Operations**

Total net sales in the third quarter of 2025 were $12,021,194 compared to $13,803,340 in the third quarter of 2024. Total net sales for the first nine months of 2025 were $39,020,273 compared to $40,099,316 for the first nine months of 2024. The Company reported net income of $1,825,271 in the third quarter of 2025, compared to a net income of $2,185,312 in the third quarter of 2024. Total net sales decreased during the first nine months of 2025 as compared to same period in 2024 due to a decrease in the number of new retail homes sold in our Company owned retail sales centers during the first nine months of fiscal 2025 as compared to 2024 (195 versus 232) partially offset by an increase in the number of homes sold to independent dealers, which have lower margins than retail sales during 2025 (129 versus 99).

We believe that potential customers have delayed or deferred purchasing decisions when considering the higher interest rate environment and the uncertainty of the economy, which continues to negatively impact sales. There also remain delays in the receipt of certain key production materials from suppliers, as well as, back orders, price increases, tariffs and labor shortages which continue to cause delays in the completion of the homes at our manufacturing facility. We also continue to experience inflation in several building products resulting in increases in our material and labor costs. We expect these challenges will continue throughout fiscal year 2025 and into fiscal 2026.

The current demand for affordable manufactured housing in Florida and the U.S. has slowed. According to the Florida Manufactured Housing Association, shipments for the industry in Florida for the period from November 2024 through July 2025 declined by approximately 12% from the same period last year.

The following table summarizes certain key sales statistics and percentage of gross profit for the three and nine months ended August 2, 2025 and August 3, 2024.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | (unaudited) | (unaudited) | (unaudited) | (unaudited) |
|  | Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended |
|  | August 2, | August 3, | August 2, | August 3, |
|  | 2025 | 2024 | 2025 | 2024 |
| New homes sold through Company owned sales centers | 63 | 79 | 195 | 232 |
| Pre-owned homes sold through Company owned sales<br> centers | 2 | 2 | 2 | 5 |
| Homes sold to independent dealers | 37 | 36 | 129 | 99 |
| Total new factory built homes produced | 95 | 95 | 291 | 301 |
| Average new manufactured home price - retail | $154268 | $145496 | $155540 | $147979 |
| Average new manufactured home price - wholesale | $69246 | $65675 | $69683 | $67348 |
| As a percent of net sales: |  |  |  |  |
| Gross profit from the Company owned retail sales centers | 23% | 25% | 23% | 24% |
| Gross profit from the manufacturing facilities - including<br> intercompany sales | 23% | 25% | 24% | 23% |

---

Maintaining our strong financial position is vital for future growth and success. Our many years of experience in the Florida market, combined with home buyers' increased need for more affordable housing, should serve the Company well in the coming years. Management remains convinced that our specific geographic market is one of the best long-term growth areas in the country.

On June 5, 2025, we celebrated our 58<sup>th</sup>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.

Insurance agent commission revenues in the third quarter of 2025 were $101,684 compared to $88,703 in the third quarter of 2024. Total insurance agent commission revenues for the first nine months of 2025 were $237,487 compared to $259,883 for the first nine months of 2024. Revenues are generated by new and renewal policies being written which affect agent commission earned. The Company establishes appropriate reserves for policy cancellations based on numerous factors, including past transaction history with customers, historical experience and other information, which is periodically evaluated and adjusted as deemed necessary. In the opinion of management, no reserve was deemed necessary for policy cancellations at August 2, 2025 and November 2, 2024.

Gross profit as a percentage of net sales was 32% in the third quarter of 2025 compared to 33% in the third quarter of 2024 and was 32% for the first nine months of 2025 compared to 34% for the first nine months of 2024. The gross profit in the third quarter of 2025 was $3,848,186 compared to $4,606,600 in the third quarter of 2024 and was $12,450,387 for the first nine months of 2025 compared

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to $13,509,340 for the first nine months of 2024. The gross profit is dependent on the sales mix of wholesale and retail homes and number of pre-owned homes sold. The gross profit as a percentage of net sales decreased due to an increase in the number of homes sold to independent dealers and a decrease in the number of homes sold at our Company owned retail sales centers that generate higher margins.

Selling, general and administrative expenses as a percent of net sales was 14% in the third quarter of 2025 compared to 15% for the third quarter of 2024 and was 13% for the first nine months of 2025 compared to 15% in the first nine months of 2024. Selling, general and administrative expenses in the third quarter of 2025 was $1,670,585 compared to $2,032,973 in the third quarter of 2024 and was $5,236,432 for the first nine months of 2025 compared to $5,976,683 for the first nine months of 2024. The dollar decrease in selling, general and administrative expenses for the first nine months of 2025 versus 2024 were due to decrease in the number of new home sold at our Company owned retail sales centers.

We earned interest income of $270,139 for the third quarter of 2025 compared to $318,253 for the third quarter of 2024. For the first nine months of 2025, interest income was $853,735 compared to $836,113 in the first nine months of 2024. The amount of interest income is primarily a function of change in the interest rates and the amount invested.

Our earnings from Majestic 21 in the third quarter of 2025 were $25,624 compared to $24,914, for the third quarter of 2024. The earnings for the first nine months of 2025 were $72,893 compared to $67,623 for the first nine months of 2024. The earnings from Majestic 21 represent the allocation of profit and losses which are owned 50% by 21st Mortgage Corporation and 50% by the Company. The Company received a one-time distribution of approximately $1.6 million in first quarter of 2024, representing our 50% of the excess capital in the portfolio. The earnings from the Majestic 21 loan portfolio vary quarter to quarter, but overall, the earnings will continue to decrease due to the amortization, maturity and payoff of the loans.

We received distributions from 21<sup>st</sup>Mortgage Corporation in the third quarter of 2025 of $36,094 compared to $47,339 in the third quarter of 2024 and $116,312 for the first nine months of 2025 compared to $147,155 for the first nine months of 2024. The distributions are from an escrow arrangement related to a Finance Revenue Sharing Agreement (FRSA) between 21<sup>st</sup>Mortgage Corporation and the Company. The distributions from the escrow arrangement, relating to certain loans financed by 21<sup>st</sup>Mortgage Corporation, are recorded as income by the Company when received. The earnings from the FRSA loan portfolio will vary quarter to quarter, but will continue to decrease due to the amortization and payoff of the loans.

The Company realized pre-tax income in the third quarter of 2025 of $2,493,117 as compared to $2,927,213 in the third quarter of 2024. The pre-tax income for the first nine months of 2025 was $8,168,256 as compared to $8,773,299 in the first nine months of 2024.

The Company recorded an income tax expense in the amount of $667,846 in the third quarter of 2025 as compared to $741,901 in third quarter 2024. Income tax expense for the nine months of 2025 was $2,070,243 compared to $2,223,591 for the nine months of 2024.

We reported net income of $1,825,271 for the third quarter of 2025 or $0.56 per share, compared to $2,185,312 or $0.67 per share, for the third quarter of 2024. For the first nine months of 2025 net income was $6,098,013 or $1.87 per share (diluted $1.86) compared to $6,549,708 or $2.00 per share (basic and diluted) in the first nine months of 2024.

**Liquidity and Capital Resources** 

Cash and cash equivalents were $14,362,469 at August 2, 2025 compared to $13,521,296 at November 2, 2024. Certificates of deposit were $12,174,266 at August 2, 2025 compared to $13,021,839 at November 2, 2024. Short-term investments were $564,681 at August 2, 2025 compared to $680,017 at November 2, 2024. Working capital was $44,799,769 at August 2, 2025 as compared to $42,927,149 at November 2, 2024. A cash dividend was paid from our cash reserves in April 2025 in the amount of $1.25 per share ($4,086,247). The Company received approximately $1.6 million in the first quarter of 2024, from 21<sup>st</sup> Mortgage Corporation, representing our 50% of the excess capital in the portfolio. Prestige new home inventory was $17,058,767 at August 2, 2025 compared to $18,475,931 at November 2, 2024. Prestige has fifty one (51) ($4.1 million) new homes that are included in inventory and are in the field waiting to be completed and closed. We own the entire inventory for our Prestige retail sales centers, which includes new and pre-owned homes, and do not incur any third-party floor plan financing expenses.

The Company currently has no line of credit facility and no debt and does not believe that such a facility is currently necessary for its operations. The Company also has approximately $4.7 million of cash surrender value of life insurance which it would be able to access as an additional source of liquidity though the Company has not currently viewed this to be necessary. As of August 2, 2025, the Company continued to report a strong balance sheet which included total assets of approximately $65.6 million which was funded primarily by stockholders' equity of approximately $58.7 million.

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**Critical Accounting Policies and Estimates** 

In Item 7 of our Form 10-K, under the heading "Critical Accounting Policies and Estimates," we have provided a discussion of the critical accounting policies and estimates that management believes affect its more significant judgments and estimates used in the preparation of our Consolidated Financial Statements. No significant changes have occurred since that time.

**Forward-Looking Statements**

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.

**Item 4. Controls and Procedures** 

*Evaluation of Disclosure Controls and Procedures*

The Company's Chief Executive Officer (principal executive officer) and Chief Financial Officer (principal financial officer) have evaluated the effectiveness of the Company's disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) as of the end of the period covered by this report (the "Evaluation Date"). Based on their evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that the Company's disclosure controls and procedures were effective as of August 2, 2025.

*Changes in Internal Control over Financial Reporting.*

There were no changes in our internal controls over financial reporting that occurred during the third quarter of fiscal 2025 that have materially affected, or are reasonably likely to materially affect, the Company's internal controls over financial reporting.

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**Part II. OTHER INFORMATION AND SIGNATURES** 

There were no reportable events for Item 1, 3 and 4.

**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.**

The Company did not repurchase any shares of its common stock during the third quarter ended August 2, 2025.

**Item 5. Other Information**

During the three months ended August 2, 2025 no director or Section 16 officer of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in item 408(a) of Regulation S-K.

**Item 6. Exhibits** 

---

| | |
|:---|:---|
| 31. <br>(a)  | [<u>Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934</u>](ck0000072205-ex31_a.htm) |
| (b)  | [<u>Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934</u>](ck0000072205-ex31_b.htm) |
| 32. <br> (a)  | [<u>Written Statement of Chief Executive Officer Pursuant to 18 U.S.C. §1350</u>](ck0000072205-ex32_a.htm) |
| (b)  | [<u>Written Statement of Chief Financial Officer Pursuant to 18 U.S.C. §1350</u>](ck0000072205-ex32_b.htm) |
| 101. | Interactive data filing formatted in XBRL |
| 104. | Cover Page Interactive Date File (formatted as inline XBRL and contained in Exhibit 101. |

---

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**Signatures** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | NOBILITY HOMES, INC. | NOBILITY HOMES, INC. |
| DATE: September 15, 2025 | By: | /s/ Terry E. Trexler |
|  |  | Terry E. Trexler, Chairman, |
|  |  | President and Chief Executive Officer |
| DATE: September 15, 2025 | By: | /s/ Thomas W. Trexler |
|  |  | Thomas W. Trexler, Executive Vice President, |
|  |  | and Chief Financial Officer |
| DATE: September 15, 2025 | By: | /s/ Lynn J. Cramer, Jr. |
|  |  | Lynn J. Cramer, Jr., Treasurer |
|  |  | and Principal Accounting Officer |

---

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## Ex-31.(A)

Exhibit 31(a)

**Certification of Chief Executive Officer**

**Pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(a)**

**or 15d-14(a) under the Securities Exchange Act of 1934**

I, Terry E. Trexler, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Nobility Homes, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under their supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| DATE: September 15, 2025 | By: | /s/ Terry E. Trexler |
|  |  | Terry E. Trexler, Chairman, |
|  |  | President and Chief Executive Officer |

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## Ex-31.(B)

Exhibit 31(b)

**Certification of Chief Financial Officer**

**Pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(a)**

**or 15d-14(a) under the Securities Exchange Act of 1934**

I, Thomas W. Trexler, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Nobility Homes, Inc;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under their supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;DATE: September 15, 2025 | &nbsp;&nbsp;&nbsp;&nbsp;By: | /s/ Thomas W. Trexler |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Thomas W. Trexler, Executive Vice President, |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;and Chief Financial Officer |

---

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## Ex-32.(A)

<br>Exhibit 32(a)

**Written Statement of the Chief Executive Officer**

**Pursuant to 18 U.S.C. §1350**

Solely for the purposes of complying with 18 U.S.C. Section 1350, I, the undersigned Chairman and Chief Executive Officer of Nobility Homes, Inc. (the "Company"), hereby certify that:

1. The Quarterly Report on Form 10-Q of the Company for the quarter ended August 2, 2025 (the "Report") fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | | |
|:---|:---|:---|
| DATE: September 15, 2025 | By: | /s/ Terry E. Trexler |
|  |  | Terry E. Trexler, Chairman, |
|  |  | President and Chief Executive Officer |

---

------

## Ex-32.(B)

<br>Exhibit 32(b)

**Written Statement of the Chief Financial Officer**

**Pursuant to 18 U.S.C. §1350**

Solely for the purposes of complying with 18 U.S.C. Section 1350, I, the undersigned Executive Vice President and Chief Financial Officer of Nobility Homes, Inc. (the "Company"), hereby certify that:

1. The Quarterly Report on Form 10-Q of the Company for the quarter ended August 2, 2025 (the "Report") fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | | |
|:---|:---|:---|
| DATE: September 15, 2025 | By: | /s/ Thomas W. Trexler |
|  |  | Thomas W. Trexler, Executive Vice President, |
|  |  | and Chief Financial Officer |

---

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