Filing Analysis
Nobility Homes, Inc. announced the engagement of a new independent certified public accounting firm on October 31, 2025. The company stated there were no disagreements with the previous auditor regarding accounting principles or financial reporting.
🚩 Red Flags
- Auditor change in a micro-cap context can sometimes precede restatements, though no such indication is present here.
📋 Key Facts
- The Audit Committee engaged a new independent accounting firm effective October 31, 2025.
- The Company confirmed it did not consult with the predecessor auditor (dbbmckennon LLC) regarding specific transactions or audit opinions that would constitute a disagreement.
- No reportable events under Item 304(a)(v) of Regulation S-K were identified during the transition.
Nobility Homes, Inc. announced the immediate resignation of its independent certified public accounting firm, Michael Gillespie & Associates, PLLC (MG&A), on October 8, 2025.
🚩 Red Flags
- Immediate resignation of an auditor is a significant red flag for micro-cap companies.
- Extremely short tenure of the auditor (approx. 1.5 months) suggests potential friction or inability to complete audit cycles.
- The company has not had audited financial statements from this firm in the prior two fiscal years, indicating recent changes in audit oversight.
📋 Key Facts
- Michael Gillespie & Associates, PLLC resigned effective immediately on October 8, 2025.
- The auditor was appointed recently, on August 19, 2025.
- MG&A did not provide any reports on the Company’s financial statements during the prior two fiscal years.
- The company stated there were no disagreements with MG&A regarding accounting principles, practices, or auditing scope during their brief tenure.
Nobility Homes, Inc. filed an 8-K to announce its third quarter earnings results for the period ended August 2, 2025.
📋 Key Facts
- The filing relates to sales and earnings for the third quarter ending August 2, 2025.
- A press release containing the financial results was issued on September 12, 2025.
- Exhibit 99.1 contains the detailed earnings release.
Nobility Homes, Inc. has dismissed its independent auditor, Baker Tilly US, LLP, and appointed Michael Gillespie & Associates, PLLC as its new certified public accounting firm, effective August 19, 2025.
🚩 Red Flags
- Rapid turnover of auditor: The dismissed firm (Baker Tilly) had only been in place since May 1, 2025, representing a very short tenure of less than four months.
- Auditor change without stated disagreement is often viewed with skepticism by the market as it can signal underlying friction or difficulty in obtaining clean opinions.
📋 Key Facts
- Baker Tilly US, LLP was dismissed by the Audit Committee on August 19, 2025.
- Baker Tilly had been appointed on May 1, 2025, and served for approximately three months.
- The company stated there were no disagreements with Baker Tilly regarding accounting principles or auditing procedures during their tenure.
- Michael Gillespie & Associates, PLLC was engaged as the new independent auditor effective August 19, 2025.
Nobility Homes, Inc. filed an 8-K to announce its second quarter sales and earnings results for the period ended May 3, 2025.
📋 Key Facts
- Report date of earliest event: June 13, 2025
- Reporting period: Second quarter ended May 3, 2025
- The filing includes an earnings press release as Exhibit 99.1
- Signed by Lynn J. Cramer, Jr., Treasurer and Principal Accounting Officer
Nobility Homes, Inc. announced the resignation of its auditor, Hancock Askew & Co., LLP, following that firm's combination with Baker Tilly US, LLP. The company has engaged Baker Tilly as its new independent registered public accounting firm.
🚩 Red Flags
- Auditor change (though triggered by a merger rather than a dispute).
📋 Key Facts
- Hancock Askew & Co., LLP resigned as the Company's auditor effective May 1, 2025.
- The resignation is due to Hancock Askew & Co. combining operations with Baker Tilly US, LLP.
- Baker Tilly was engaged as the new independent registered public accounting firm on May 1, 2025.
- Previous audit reports for fiscal years ended Nov 2, 2024, and Nov 4, 2023, contained no adverse opinions or disclaimers.
- The Company reported no disagreements with the outgoing auditor regarding accounting principles or auditing procedures.
Nobility Homes, Inc. reported its Q1 earnings results for the period ended February 1, 2025, and conducted its annual shareholder meeting.
📋 Key Facts
- Company issued a press release regarding sales and earnings for the first quarter ended February 1, 2025 (Item 2.02).
- Held an annual meeting of shareholders on March 14, 2025 (Item 5.07).
- Four board nominees—Terry E. Trexler, Thomas W. Trexler, Arthur L. Havener, Jr., and Robert P. Saltsman—were elected by plurality.
- The election results showed significant support for all four nominees with votes in the 2.95M to 2.96M range.
Nobility Homes, Inc. filed an 8-K to announce its sales and earnings results for the fiscal year ended November 2, 2024.
📋 Key Facts
- The report pertains to the fiscal year ended November 2, 2024.
- The company issued a press release regarding sales and earnings on January 9, 2025.
- Earnings results are contained in Exhibit 99.1.
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)