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, Inc. (NYSE:MHO) reported record financial results for Q3 2022, with revenue rising 12% to $1.0 billion and pre-tax income climbing 43% to $167 million. Net income jumped 45%, reaching $132 million ($4.67 per diluted share). Despite a 1% decrease in homes delivered, the average sales price increased by 13% to $487,000. New contracts fell 31%, reflecting lower demand due to rising mortgage rates. Backlog units decreased 16% to 4,536, while shareholders' equity hit a record $1.9 billion, a 25% increase year-over-year.
M/I Homes, Inc. (NYSE:MHO) will host a webcast for its Third Quarter Earnings on October 26, 2022, at 4:00 p.m. Eastern Time. Investors can access the live event through the company's website at www.mihomes.com. The company is set to report its earnings before the market opens on the same day. M/I Homes is a prominent homebuilder with operations across several U.S. states including Ohio, Indiana, Illinois, and Texas.
M/I Homes, Inc. (NYSE: MHO) announces the appointment of Bruce A. Soll to its Board of Directors, effective August 18, 2022. Soll, previously Vice Chair International of LBrands, brings extensive public company leadership experience. His addition aims to enhance the board's expertise, as stated by Chairman and CEO Robert H. Schottenstein. M/I Homes operates in various U.S. markets, focusing on single-family homes. The announcement includes forward-looking statements that caution against predicting future performance due to inherent risks.
M/I Homes, Inc. (MHO) reported a strong second quarter for 2022, with revenues of $1.0 billion, an 8% increase, and record net income of $137 million, up 27% year-over-year. Despite a 6% decrease in homes delivered to 2,133, the average sales price rose 16% to $477,000. New contracts dropped 20% to 1,820, and backlog units fell 5% to 5,213. The company's shareholders' equity reached a record $1.8 billion, marking a 24% increase from 2021. CEO Robert Schottenstein acknowledged challenges from rising interest rates but emphasized a solid financial position and strong market fundamentals.
Installed Building Products, Inc. (NYSE: IBP) has appointed Robert H. Schottenstein as an independent director on its Board of Directors, expanding the board to nine members. Schottenstein previously served from April 2014 to March 2020 and brings over 40 years of real estate experience, currently leading M/I Homes, Inc. (NYSE: MHO) as Chairman and CEO. His familiarity with the residential construction sector and previous tenure at IBP is expected to contribute positively to the company’s strategic direction.
M/I Homes, Inc. (NYSE:MHO) has announced a webcast for its second-quarter earnings on July 27, 2022, at 4:00 p.m. ET. The earnings report will be available before the market opens on the same day. Investors can access the live webcast on the company's website. M/I Homes operates in multiple regions across the United States, including Ohio, Indiana, Illinois, Minnesota, Florida, Texas, North Carolina, and Tennessee, solidifying its position as a leading homebuilder.
M/I Homes, Inc. (NYSE:MHO) reported a strong first quarter for 2022, achieving record revenue of $860.8 million, up 4% year-over-year. Pre-tax income rose 11% to $122.3 million, and net income increased 8% to $91.8 million, equating to $3.16 per diluted share. Despite a 10% decline in homes delivered (1,823), the average sales price soared 16% to $457,000. Backlog units reached an all-time high of 5,526, with a backlog sales value of $2.8 billion, marking a 17% increase. Management emphasized strong demand for new homes amid labor and supply chain challenges.
M/I Homes, Inc. (NYSE: MHO) will hold a first quarter earnings webcast on April 27, 2022, at 4:00 p.m. Eastern Time. Investors can access the webcast via the company’s website.
The earnings report is scheduled to be released before the market opens on the same day. M/I Homes is recognized as a leading builder of single-family homes, operating across several key U.S. markets, including Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee.
M/I Homes, Inc. (NYSE:MHO) has announced an increase of $100 million to its existing share repurchase authorization, raising the total amount available to $148.5 million. The original authorization was established in July 2021, with $48.5 million remaining as of December 31, 2021. The company plans to execute these buybacks through various methods, subject to market conditions and legal requirements. Notably, the authorization has no expiration and can be modified or suspended at any time.
M/I Homes, Inc. (NYSE:MHO) reported strong financial results for Q4 and the full year of 2021. Q4 homes delivered reached an all-time record of 2,316, with revenue up 16% to $1.1 billion. Pre-tax income surged 39% to $141.4 million, and net income rose 42% to $113.4 million ($3.83 per diluted share). Full-year figures also set records: homes delivered at 8,638, revenue at $3.7 billion (up 23%), and net income at $396.9 million ($13.28 per diluted share). However, new contracts fell 4% year-over-year. The backlog units and sales value increased significantly, reflecting strong demand.
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