M/I Homes reports Q4 EPS $4.71, consensus $4.83

Reports Q4 revenue $1.2B, consensus $1.17B. Reports Q4 new contracts up 11% to 1,759. Robert H. Schottenstein, CEO and President, commented, “We had an outstanding 2024 highlighted by all-time records in homes delivered, revenue and income. Our homes delivered increased 12% to 9,055 generating revenue of $4.5B – a 12% increase over 2023. Our gross margins were 26.6% compared to 25.3% and pre-tax income was $734M, a 21% increase over last year. Our pre-tax margin reached 16% and we produced a strong return on equity of 21%.”