M/I Homes Inc ( (MHO) ) has released its Q1 earnings. Here is a breakdown of the information M/I Homes Inc presented to its investors.
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M/I Homes, Inc. is a prominent homebuilder specializing in single-family homes across various U.S. markets, including Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee.
In the first quarter of 2025, M/I Homes reported a decrease in both revenue and net income compared to the previous year. Despite these declines, the company achieved a record level of shareholders’ equity and maintained a strong return on equity.
Key financial metrics revealed an 8% decrease in homes delivered and a 7% drop in revenue, amounting to $976 million. Pre-tax income fell by 19% to $146 million, while net income decreased to $111 million, or $3.98 per diluted share. The company also reported a 10% reduction in new contracts and a 13% decrease in backlog sales value.
Despite the challenging market conditions, M/I Homes remains optimistic about its future. The company ended the quarter with a record net worth and zero borrowings under its unsecured credit line, positioning itself for potential growth in community count throughout the year. Management expressed confidence in navigating the current market uncertainties and achieving a solid performance in 2025.