Welcome to our dedicated page for M/I Homes news (Ticker: MHO), a resource for investors and traders seeking the latest updates and insights on M/I Homes stock.
M/I Homes, Inc. (NYSE: MHO) is a prominent American homebuilding company founded in 1976, known for its innovation, superior customer service, and quality construction. With operations in homebuilding and financial services, M/I Homes serves a diverse customer base, including first-time, move-up, luxury, and empty nester buyers.
The company's homebuilding operations are strategically located across the Midwest, Mid-Atlantic, and Southern regions of the United States. These operations contribute the largest portion of the company's revenue. Key markets include Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Detroit, Michigan; several cities in Florida and Texas; Charlotte and Raleigh, North Carolina; and Nashville, Tennessee.
M/I Homes also offers financial services that complement its homebuilding activities. These services include mortgage loans and title services, providing comprehensive support for their customers' home purchasing journey.
In recent developments, M/I Homes reported strong financial performance for the third quarter of 2023, with record revenues of $1 billion, and impressive increases in new contracts and home deliveries. The company also boasts a robust financial condition with significant cash reserves and no borrowings on its $650 million credit facility.
Continuing its commitment to shareholder value, M/I Homes recently announced an increase in its share repurchase authorization by an additional $100 million.
For the fiscal year 2023, M/I Homes delivered 8,112 homes, achieving a revenue of $4 billion. The company has 213 active communities and maintains a strong balance sheet with zero borrowings and a homebuilding debt to capital ratio of 22%.
As of the first quarter of 2024, M/I Homes continues its upward trajectory, reporting record first quarter pre-tax income and net income. The company aims to strengthen its market position through diverse product offerings and strategically located communities, ensuring it remains a leader in the U.S. homebuilding industry.
M/I Homes (NYSE: MHO) reported record third quarter results for 2024. The company achieved record homes delivered with an 8% increase to 2,271 units, and revenue grew 9% to $1.1 billion. Net income rose 5% to $145.4 million ($5.10 per diluted share). Shareholders' equity reached an all-time high of $2.8 billion, up 17% year-over-year, with book value per share of $105. New contracts remained stable at 2,023 compared to 2,021 in the previous year. The company maintained a strong financial position with $720 million in cash and a homebuilding debt-to-capital ratio of 20%.
M/I Homes, Inc. (NYSE:MHO) has announced a webcast for its third quarter earnings on October 30, 2024, at 10:00 AM Eastern Time. The webcast will be accessible live over the internet at http://www.mihomes.com. For those unable to participate live, an archived version will be available on the same website. The company is expected to report its third quarter earnings before the market opens on the same day.
M/I Homes is a leading homebuilder of single-family homes with operations in various states including Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. Interested parties can contact Ann Marie Hunker or Mark Kirkendall for more information.
M/I Homes (NYSE:MHO) reported record-breaking results for Q2 2024. Highlights include:
- Revenue up 9% to $1.1 billion
- Net income increased 24% to $146.7 million ($5.12 per diluted share)
- Homes delivered up 12% to 2,224
- New contracts increased 3% to 2,255
- Backlog sales value up 3% to $1.82 billion
The company achieved all-time quarterly records in income, gross margins (28%), and pre-tax margins (17.5%). M/I Homes ended the quarter with record shareholders' equity of $2.7 billion, a 19% increase year-over-year, and a strong financial position with $837 million in cash and a net-debt-to-capital ratio of negative 6%.
M/I Homes (NYSE: MHO) will hold a webcast announcing their second quarter earnings on July 30, 2024, at 10:30 AM Eastern Time. Investors can access the live webcast through the company's website. The webcast will be archived for later viewing. The company is expected to report its second quarter earnings before the market opens on the same day. M/I Homes operates as a leading homebuilder in multiple regions across the United States, including Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. For more information, contact Ann Marie Hunker or Mark Kirkendall at the provided contact details.
M/I Homes (NYSE:MHO) announced a new share repurchase authorization of up to $250 million, replacing the previous authorization with $103 million remaining as of April 30, 2024.
The repurchase can occur via open market or privately negotiated transactions, adhering to applicable laws. Management will decide the timing and amount based on market price, business conditions, and other factors. The authorization has no expiration date and can be modified or suspended anytime.
M/I Homes is a leading builder of single-family homes, operating across various states, including Ohio, Texas, and Florida.
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