• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    M/I Homes Reports 2025 First Quarter Results

    4/23/25 7:30:00 AM ET
    $MHO
    Homebuilding
    Consumer Discretionary
    Get the next $MHO alert in real time by email

    COLUMBUS, Ohio, April 23, 2025 /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) announced results for the three months ended March 31, 2025.

    M/I Homes, Inc. Logo (PRNewsfoto/M/I Homes, Inc.)

    2025 First Quarter Highlights:

    • Homes delivered decreased 8% to 1,976 from 2,158
    • Revenue decreased 7% to $976 million
    • Pre-tax income decreased 19% to $146 million, 15% of revenue
    • Net income of $111 million ($3.98 per diluted share) versus $138 million ($4.78 per diluted share)
    • Shareholders' equity reached an all-time record $3 billion, a 14% increase from a year ago, with book value per share of $112
    • New contracts were 2,292, compared to 2,547 in last year's first quarter
    • Repurchased $50 million of common stock
    • Return on equity of 19%

    The Company reported pre-tax income of $146.1 million and net income of $111.2 million ($3.98 per diluted share). This compares to pre-tax income of $180.2 million and net income of $138.1 million, or $4.78 per diluted share, for the first quarter of 2024.

    Homes delivered in 2025's first quarter decreased 8% to 1,976 homes. This compares to 2,158 homes delivered in 2024's first quarter. New contracts were 2,292 for the first quarter of 2025 compared to 2,547 in last year's first quarter. Homes in backlog at March 31, 2025 had a total sales value of $1.56 billion, a 13% decrease from a year ago. Backlog units at March 31, 2025 decreased 16% to 2,847 homes, with an average sales price of $548,000. At March 31, 2024, backlog sales value was $1.79 billion, with backlog units of 3,391 and an average sales price of $528,000. M/I Homes had 226 communities at March 31, 2025 compared to 219 communities at March 31, 2024. The Company's cancellation rate was 10% in the first quarter of 2025 compared to 8% in the first quarter of 2024.

    Robert H. Schottenstein, Chief Executive Officer and President, commented, "Our first quarter results were solid despite the many challenges facing the housing industry, including declining consumer confidence. While our new contracts were down 10% compared to a year ago, we were effective in balancing pace and price as our gross margin was a strong 25.9%. And we were very pleased with our 15% pre-tax profit margin and 19% return on equity.

    Mr. Schottenstein added, "Though current conditions are choppy, and are likely to continue for the foreseeable future, we remain optimistic about our business and the longer-term outlook for the housing industry. Our balance sheet is the strongest in Company history. We ended the quarter with record net worth of $3 billion, a 14% increase from a year ago, book value of $112 per share, zero borrowings under our $650 million unsecured borrowing line, cash of  $776 million,  homebuilding debt-to-capital of 19% and a net debt-to-capital ratio of negative 3%. At the end of the quarter, we had 226 active communities, a record for our company, and are positioned to grow community count this year by an average of 5%.  Despite all the market uncertainties, we are well positioned to have a solid year in 2025."

    The Company will broadcast live its earnings conference call today at 10:30 A.M. Eastern Time. To listen to the call live, log on to the M/I Homes' website at mihomes.com, click on the "Investors" section of the site, and select "Listen to the Conference Call." A replay of the call will continue to be available on our website through April 2026.

    M/I Homes, Inc. is one of the nation's leading homebuilders of single-family homes. The Company has homebuilding operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Detroit, Michigan; Tampa, Sarasota, Fort Myers/Naples and Orlando, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; Charlotte and Raleigh, North Carolina and Nashville, Tennessee.

    Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "targets," "envisions," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements. These statements involve a number of risks and uncertainties. Any forward-looking statements that we make herein and in any future reports and statements are not guarantees of future performance, and actual results may differ materially from those in such forward-looking statements as a result of various factors, including, without limitation, factors relating to the economic environment, interest rates, availability of resources, competition, market concentration, land development activities, construction defects, product liability and warranty claims and various governmental rules and regulations including changes in trade policy affecting business including new or increased tariffs, as well as the potential impact of retaliatory tariffs and other penalties, as more fully discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as the same may be updated from time to time in our subsequent filings with the Securities and Exchange Commission.  All forward-looking statements made in this press release are made as of the date hereof, and the risk that actual results will differ materially from expectations expressed herein will increase with the passage of time. We undertake no duty to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in our subsequent filings, releases or presentations should be consulted.

     

    M/I Homes, Inc. and Subsidiaries

    Summary Statement of Income (unaudited)

    (Dollars and shares in thousands, except per share amounts)





    Three Months Ended



    March 31,



    2025



    2024

    New contracts

    2,292



    2,547

    Average community count

    223



    216

    Cancellation rate

    10 %



    8 %

    Backlog units

    2,847



    3,391

    Backlog sales value

    $  1,559,251



    $  1,789,340

    Homes delivered

    1,976



    2,158

    Average home closing price

    $            476



    $            471









    Homebuilding revenue:







       Housing revenue

    $     940,031



    $  1,016,513

       Land revenue

    4,542



    3,228

    Total homebuilding revenue

    $     944,573



    $  1,019,741









    Financial services revenue

    31,520



    26,962

    Total revenue

    $     976,093



    $  1,046,703









    Cost of sales - operations

    723,310



    763,360

    Gross margin

    $     252,783



    $     283,343

    General and administrative expense

    59,073



    56,084

    Selling expense

    52,786



    53,940

    Operating income

    $     140,924



    $     173,319

    Interest income, net of interest expense

    (5,197)



    (6,920)

    Income before income taxes

    $     146,121



    $     180,239

    Provision for income taxes

    34,884



    42,178

    Net income

    $     111,237



    $     138,061









    Earnings per share:







    Basic

    $          4.07



    $           4.92

    Diluted

    $          3.98



    $           4.78









    Weighted average shares outstanding:







    Basic

    27,314



    28,052

    Diluted

    27,941



    28,888

     

    M/I Homes, Inc. and Subsidiaries

    Summary Balance Sheet and Other Information (unaudited)

    (Dollars in thousands, except per share amounts)





    As of



    March 31,



    2025



    2024

    Assets:







    Total cash, cash equivalents and restricted cash (1)

    $      776,378



    $      870,162

    Mortgage loans held for sale

    238,583



    235,047

    Inventory:







    Lots, land and land development

    1,666,045



    1,448,459

    Land held for sale

    3,903



    136

    Homes under construction

    1,342,424



    1,169,791

    Other inventory

    192,333



    155,779

    Total Inventory

    $   3,204,705



    $   2,774,165









    Property and equipment - net

    33,569



    33,145

    Investments in joint venture arrangements

    70,727



    59,146

    Operating lease right-of-use assets

    57,428



    57,890

    Goodwill

    16,400



    16,400

    Deferred income tax asset

    13,451



    15,313

    Other assets

    173,982



    150,683

    Total Assets

    $   4,585,223



    $   4,211,951









    Liabilities:







    Debt - Homebuilding Operations:







    Senior notes due 2028 - net

    $      397,846



    $      397,072

    Senior notes due 2030 - net

    297,495



    296,991

    Total Debt - Homebuilding Operations

    $      695,341



    $      694,063









    Notes payable bank - financial services operations

    227,957



    224,321

    Total Debt

    $      923,298



    $      918,384









    Accounts payable

    228,909



    224,972

    Operating lease liabilities

    58,960



    59,163

    Other liabilities

    367,722



    370,647

    Total Liabilities

    $   1,578,889



    $   1,573,166









    Shareholders' Equity

    3,006,334



    2,638,785

    Total Liabilities and Shareholders' Equity

    $   4,585,223



    $   4,211,951









    Book value per common share

    $        112.29



    $          95.09

    Homebuilding debt to capital ratio (2)

    19 %



    21 %





    (1)

    Includes $0.2 million and $0.5 million of restricted cash and cash held in escrow for the quarters ended March 31, 2025 and 2024, respectively.

    (2)

    The ratio of homebuilding debt to capital is calculated as the carrying value of our homebuilding debt outstanding divided by the sum of the carrying value of our homebuilding debt outstanding plus shareholders' equity.

     

    M/I Homes, Inc. and Subsidiaries

    Selected Supplemental Financial and Operating Data (unaudited)

    (Dollars in thousands)





    Three Months Ended



    March 31,



    2025



    2024

    Cash provided by operating activities

    $         64,887



    $        115,772

    Cash used in investing activities

    $         (2,928)



    $        (17,108)

    Cash (used in) provided by financing activities

    $     (107,151)



    $         38,694









    Land/lot purchases

    $       145,983



    $       107,660

    Land development spending

    $       101,599



    $       119,367

    Land sale revenue

    $           4,542



    $           3,228

    Land sale gross profit

    $              786



    $           1,313









    Financial services pre-tax income

    $         16,106



    $         12,312

     

    M/I Homes, Inc. and Subsidiaries

    Non-GAAP Financial Results (1)

    (Dollars in thousands)





    Three Months Ended



    March 31,



    2025



    2024

    Net income

    $       111,237



    $       138,061

    Add:







    Provision for income taxes

    34,884



    42,178

    Interest income - net

    (8,041)



    (9,767)

    Interest amortized to cost of sales

    6,901



    8,302

    Depreciation and amortization

    4,777



    4,467

    Non-cash charges

    4,200



    3,539

    Adjusted EBITDA

    $       153,958



    $       186,780





    (1)

    We believe these non-GAAP financial measures are relevant and useful to investors in understanding our operations and may be helpful in comparing us with other companies in the homebuilding industry to the extent they provide similar information. These non-GAAP financial measures should be used to supplement our GAAP results in order to provide a greater understanding of the factors and trends affecting our operations.

     

    M/I Homes, Inc. and Subsidiaries

    Selected Supplemental Financial and Operating Data





    NEW CONTRACTS





    Three Months Ended





    March 31,













    %

    Region



    2025



    2024



    Change

    Northern



    1,065



    1,162



    (8) %

    Southern



    1,227



    1,385



    (11) %

    Total



    2,292



    2,547



    (10) %





    HOMES DELIVERED





    Three Months Ended





    March 31,













    %

    Region



    2025



    2024



    Change

    Northern



    826



    843



    (2) %

    Southern



    1,150



    1,315



    (13) %

    Total



    1,976



    2,158



    (8) %

     



    BACKLOG



    March 31, 2025





    March 31, 2024







    Dollars



    Average









    Dollars



    Average

    Region

    Units



    (millions)



    Sales Price





    Units



    (millions)



    Sales Price

    Northern

    1,375



    $            765



    $     556,000





    1,567



    $           822



    $     525,000

    Southern

    1,472



    $            795



    $     540,000





    1,824



    $           967



    $     530,000

    Total

    2,847



    $         1,559



    $     548,000





    3,391



    $        1,789



    $     528,000





    LAND POSITION SUMMARY



    March 31, 2025





    March 31, 2024



    Lots



    Lots Under









    Lots



    Lots Under





    Region

    Owned



    Contract



    Total





    Owned



    Contract



    Total

    Northern

    6,855



    9,501



    16,356





    7,005



    9,279



    16,284

    Southern

    18,355



    16,386



    34,741





    16,821



    14,352



    31,173

    Total

    25,210



    25,887



    51,097





    23,826



    23,631



    47,457

     

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/mi-homes-reports-2025-first-quarter-results-302434860.html

    SOURCE M/I Homes, Inc.

    Get the next $MHO alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $MHO

    DatePrice TargetRatingAnalyst
    3/6/2025$151.00Neutral → Buy
    Seaport Research Partners
    11/4/2024$155.00 → $185.00Neutral → Outperform
    Wedbush
    8/28/2024Neutral
    Seaport Research Partners
    7/24/2024$200.00Strong Buy
    Raymond James
    12/18/2023$116.00Outperform → Neutral
    Wedbush
    8/12/2021$80.00 → $100.00Neutral → Outperform
    Wedbush
    8/12/2021Neutral → Outperform
    Wedbush
    More analyst ratings

    $MHO
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • M/I Homes, Inc. Announces Second Quarter Webcast

      COLUMBUS, Ohio, June 13, 2025 /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) announces the following Webcast: What: M/I Homes, Inc. Announces Second Quarter Webcast When: July 23, 2025 @ 10:30AM Eastern Time Where: http://www.mihomes.com How: Live over the Internet -- Simply log on to the web at the address above  Contact: Ann Marie Hunker, Vice President, Chief Accounting Officer, Controller of M/I Homes, Inc.,    [email protected], or 614-418-8225 Mark Kirkendall, Vice President, Treasurer of M/I Homes, Inc.,    [email protected], or 614-418-8021  If you are unable to p

      6/13/25 7:45:00 AM ET
      $MHO
      Homebuilding
      Consumer Discretionary
    • M/I Homes Reports 2025 First Quarter Results

      COLUMBUS, Ohio, April 23, 2025 /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) announced results for the three months ended March 31, 2025. 2025 First Quarter Highlights: Homes delivered decreased 8% to 1,976 from 2,158Revenue decreased 7% to $976 millionPre-tax income decreased 19% to $146 million, 15% of revenueNet income of $111 million ($3.98 per diluted share) versus $138 million ($4.78 per diluted share)Shareholders' equity reached an all-time record $3 billion, a 14% increase from a year ago, with book value per share of $112New contracts were 2,292, compared to 2,547 in las

      4/23/25 7:30:00 AM ET
      $MHO
      Homebuilding
      Consumer Discretionary
    • Changes to M/I Homes Board of Directors

      COLUMBUS, Ohio, March 14, 2025 /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) today announced that Friedrich K.M. Böhm, an independent member of the Company's Board of Directors since 1994, has informed the Company of his decision to retire from the Board upon the expiration of his term, and not stand for re-election, at the Company's 2025 Annual Meeting of Shareholders. The Company will identify the Board of Directors' nominee to serve on the Board as Mr. Böhm's successor in the Company's Proxy Statement for its 2025 Annual Meeting of Shareholders. Mr. Böhm has served on the M/I

      3/14/25 4:15:00 PM ET
      $MHO
      Homebuilding
      Consumer Discretionary

    $MHO
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • M/I Homes upgraded by Seaport Research Partners with a new price target

      Seaport Research Partners upgraded M/I Homes from Neutral to Buy and set a new price target of $151.00

      3/6/25 7:27:52 AM ET
      $MHO
      Homebuilding
      Consumer Discretionary
    • M/I Homes upgraded by Wedbush with a new price target

      Wedbush upgraded M/I Homes from Neutral to Outperform and set a new price target of $185.00 from $155.00 previously

      11/4/24 7:37:50 AM ET
      $MHO
      Homebuilding
      Consumer Discretionary
    • Seaport Research Partners initiated coverage on M/I Homes

      Seaport Research Partners initiated coverage of M/I Homes with a rating of Neutral

      8/28/24 7:47:09 AM ET
      $MHO
      Homebuilding
      Consumer Discretionary

    $MHO
    SEC Filings

    See more
    • SEC Form 11-K filed by M/I Homes Inc.

      11-K - M/I HOMES, INC. (0000799292) (Filer)

      6/20/25 12:23:05 PM ET
      $MHO
      Homebuilding
      Consumer Discretionary
    • M/I Homes Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits

      8-K - M/I HOMES, INC. (0000799292) (Filer)

      5/14/25 4:08:25 PM ET
      $MHO
      Homebuilding
      Consumer Discretionary
    • SEC Form 10-Q filed by M/I Homes Inc.

      10-Q - M/I HOMES, INC. (0000799292) (Filer)

      4/25/25 10:13:25 AM ET
      $MHO
      Homebuilding
      Consumer Discretionary

    $MHO
    Leadership Updates

    Live Leadership Updates

    See more
    • Installed Building Products Announces the Appointment of Robert H. Schottenstein to Its Board of Directors

      Installed Building Products, Inc. (the "Company" or "IBP") (NYSE:IBP), an industry-leading installer of insulation and complementary building products, today announced that Robert H. Schottenstein has been appointed as an independent director to the Company's Board of Directors. Mr. Schottenstein previously served on the Board from April 2014 to March 2020. With this appointment, the Board now has nine members. "I am extremely pleased to welcome Bob back to our Board," stated Jeff Edwards, Chairman and Chief Executive Officer of IBP. "Bob brings a wealth of residential construction and corporate management experience at one of the leading publicly traded homebuilders, as well as a strong u

      7/18/22 4:30:00 PM ET
      $IBP
      $MHO
      Homebuilding
      Consumer Discretionary

    $MHO
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by M/I Homes Inc.

      SC 13G/A - M/I HOMES, INC. (0000799292) (Subject)

      11/12/24 3:48:40 PM ET
      $MHO
      Homebuilding
      Consumer Discretionary
    • Amendment: SEC Form SC 13G/A filed by M/I Homes Inc.

      SC 13G/A - M/I HOMES, INC. (0000799292) (Subject)

      11/4/24 10:20:58 AM ET
      $MHO
      Homebuilding
      Consumer Discretionary
    • SEC Form SC 13G filed by M/I Homes Inc.

      SC 13G - M/I HOMES, INC. (0000799292) (Subject)

      10/25/24 3:26:21 PM ET
      $MHO
      Homebuilding
      Consumer Discretionary

    $MHO
    Financials

    Live finance-specific insights

    See more
    • M/I Homes, Inc. Announces Second Quarter Webcast

      COLUMBUS, Ohio, June 13, 2025 /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) announces the following Webcast: What: M/I Homes, Inc. Announces Second Quarter Webcast When: July 23, 2025 @ 10:30AM Eastern Time Where: http://www.mihomes.com How: Live over the Internet -- Simply log on to the web at the address above  Contact: Ann Marie Hunker, Vice President, Chief Accounting Officer, Controller of M/I Homes, Inc.,    [email protected], or 614-418-8225 Mark Kirkendall, Vice President, Treasurer of M/I Homes, Inc.,    [email protected], or 614-418-8021  If you are unable to p

      6/13/25 7:45:00 AM ET
      $MHO
      Homebuilding
      Consumer Discretionary
    • M/I Homes Reports 2025 First Quarter Results

      COLUMBUS, Ohio, April 23, 2025 /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) announced results for the three months ended March 31, 2025. 2025 First Quarter Highlights: Homes delivered decreased 8% to 1,976 from 2,158Revenue decreased 7% to $976 millionPre-tax income decreased 19% to $146 million, 15% of revenueNet income of $111 million ($3.98 per diluted share) versus $138 million ($4.78 per diluted share)Shareholders' equity reached an all-time record $3 billion, a 14% increase from a year ago, with book value per share of $112New contracts were 2,292, compared to 2,547 in las

      4/23/25 7:30:00 AM ET
      $MHO
      Homebuilding
      Consumer Discretionary
    • M/I Homes, Inc. Announces First Quarter Webcast

      COLUMBUS, Ohio, March 11, 2025 /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) announces the following Webcast: What:        M/I Homes, Inc. Announces First Quarter Webcast When:        April 23, 2025 @ 10:30AM Eastern Time Where:       http://www.mihomes.com How:         Live over the Internet -- Simply log on to the web at the address above  Contact:  Ann Marie Hunker, Vice President, Chief Accounting Officer, Controller of M/I Homes, Inc.,                   [email protected], or 614-418-8225               Mark Kirkendall, Vice President, Treasurer of M/I Homes, Inc.,         

      3/11/25 7:45:00 AM ET
      $MHO
      Homebuilding
      Consumer Discretionary

    $MHO
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SEC Form 4 filed by Director Soll Bruce A

      4 - M/I HOMES, INC. (0000799292) (Issuer)

      5/15/25 4:09:38 PM ET
      $MHO
      Homebuilding
      Consumer Discretionary
    • SEC Form 4 filed by Director Walker Kumi D

      4 - M/I HOMES, INC. (0000799292) (Issuer)

      5/15/25 4:08:39 PM ET
      $MHO
      Homebuilding
      Consumer Discretionary
    • SEC Form 4 filed by Director Traeger Norman L

      4 - M/I HOMES, INC. (0000799292) (Issuer)

      5/15/25 4:07:34 PM ET
      $MHO
      Homebuilding
      Consumer Discretionary