Filing Analysis
Nobility Homes, Inc. filed an 8-K to announce its third quarter sales and earnings results for the period ended August 3, 2024.
📋 Key Facts
- Report date: September 10, 2024
- Reporting period: Third quarter ended August 3, 2024
- The filing serves as a vehicle to release the quarterly earnings press release (Exhibit 99.1).
Nobility Homes, Inc. held its annual meeting of shareholders on July 22, 2024. The filing reports the election results for four nominees to the Board of Directors.
📋 Key Facts
- Annual meeting held on July 22, 2024.
- Four board nominees were elected by a plurality of votes: Terry E. Trexler, Thomas W. Trexler, Arthur L. Havener, Jr., and Robert P. Saltsman.
- Terry E. Trexler received 2,684,349 votes in favor.
- Thomas W. Trexler received 2,683,914 votes in favor.
- Arthur L. Havener, Jr. received 2,673,793 votes in favor.
- Robert P. Saltsman received 2,561,914 votes in favor.
Nobility Homes, Inc. filed an 8-K to announce its second quarter earnings results for the period ended June 28, 2024. The filing serves as a formal announcement of the company's quarterly financial performance.
📋 Key Facts
- Report date: June 28, 2024
- Filing date: July 1, 2024
- Subject matter: Second quarter earnings results (Item 2.02)
- The filing includes an earnings press release as Exhibit 99.1
Nobility Homes, Inc. filed an 8-K to announce its earnings results for the first quarter ended February 3, 2024. The filing serves as a formal vehicle to release the company's quarterly sales and financial performance data.
📋 Key Facts
- Reporting period: First quarter ended February 3, 2024.
- Event date: June 6, 2024.
- Filing type: Results of Operations and Financial Condition (Item 2.02).
- The company issued a press release containing sales and earnings data as Exhibit 99.1.
Nobility Homes, Inc. reported its quarterly earnings for the period ending February 3, 2024, and announced a one-time cash dividend.
📋 Key Facts
- Quarterly earnings release issued on March 12, 2024, for the first quarter ended February 3, 2024.
- One-time cash dividend of $1.50 per common share declared for fiscal year 2023.
- Dividend record date is March 25, 2024.
- Dividend payment date is April 8, 2024.
Nobility Homes, Inc. announced the immediate resignation of its independent auditor, CohnReznick LLP, and the appointment of Hancock Askew & CO, LLP. The resignation follows a disagreement regarding audit evidence for inventory capitalization and the identification of a material weakness in internal controls.
🚩 Red Flags
- Auditor change combined with a reported disagreement on audit evidence (Item 4.01).
- Identification of a material weakness in internal controls over financial reporting.
- Disagreement specifically concerns inventory capitalization, which is a high-risk area for manufacturing/construction companies.
- Immediate resignation of the auditor often signals significant friction or risk exposure.
📋 Key Facts
- CohnReznick LLP resigned as the Company's independent auditor effective February 15, 2024.
- Hancock Askew & CO, LLP has been engaged as the successor auditor, effective immediately.
- The Company and CohnReznick disagreed over the scope/nature of audit evidence required to substantiate capitalization of material, labor, and overhead costs in finished goods inventory.
- CohnReznick identified a material weakness in internal controls regarding the accuracy of cost capitalization due to an inadequate manufacturing accounting system.
- The Company authorized CohnReznick to respond to inquiries from the successor auditor regarding the disagreement.
Nobility Homes, Inc. filed an 8-K to announce its earnings results for the fourth quarter and fiscal year ended November 4, 2023.
📋 Key Facts
- Report date: February 2, 2024
- Reporting period: Fourth quarter and fiscal year ended November 4, 2023
- The filing consists of an earnings press release (Exhibit 99.1)