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) announced the successful completion of its exchange offer for $300 million of 3.95% Senior Notes due 2030. As of the expiration date on November 12, 2021, 99.9% of the Original Notes had been validly tendered for exchange. The offer, which does not represent a new financing transaction, aimed to meet obligations under a registration rights agreement. Settlement is expected around November 18, 2021. M/I Homes is known for building single-family homes across multiple U.S. markets, having sold over 135,000 homes.
M/I Homes, Inc. (NYSE: MHO) has extended its registered exchange offer for $300 million of its 3.95% Senior Notes due 2030. Originally set to expire on November 4, 2021, the deadline is now extended to November 12, 2021. As of the original deadline, approximately $299.734 million of the notes, equating to 99.9% of the outstanding amount, had been tendered for exchange. This exchange facilitates a transition from privately placed notes to those registered under the Securities Act of 1933.
M/I Homes, Inc. (NYSE:MHO) reported a strong third quarter for 2021, with revenue reaching a record $904.3 million, a 7% increase year-over-year. Pre-tax income rose 22% to $116.2 million, despite a $9.1 million charge for early debt extinguishment. Net income surged 24% to $91.0 million, translating to $3.03 per diluted share. Backlog units grew 20% to 5,407, with a sales value of $2.5 billion, marking a 40% increase. The company also announced its expansion into Nashville, targeting new community openings in 2022. Shareholders’ equity reached an all-time high of $1.5 billion.
M/I Homes, Inc. (NYSE:MHO) has announced a webcast to discuss its third quarter earnings on October 27, 2021, at 4:00 p.m. Eastern Time. The earnings report is expected before the market opens on the same day. M/I Homes, a leading builder of single-family homes, has sold over 140,000 homes across various states, including Ohio, Indiana, Florida, and Texas. Interested parties can access the webcast at www.mihomes.com.
M/I Homes, Inc. (NYSE: MHO), based in Columbus, Ohio, has initiated a registered exchange offer for its $300,000,000 of 3.95% Senior Notes due 2030. This exchange aims to fulfill obligations under a registration rights agreement dated August 23, 2021. The exchange offer will expire on November 4, 2021, and the company will not receive any new financing from this exchange. The terms of the new notes are largely identical, with some transfer restrictions and registration rights removed. Holders of the original notes who do not participate will remain under existing restrictions.
M/I Homes, Inc. (NYSE: MHO) has priced its offering of $300 million in 3.950% senior notes due February 15, 2030, at par. The offering is available to qualified institutional buyers under Rule 144A and is unregistered under the Securities Act. Proceeds will be used to redeem $250 million of existing 5.625% senior notes due 2025 and for general corporate purposes. The offering is expected to close on August 23, 2021, with redemption planned for August 24, 2021.
M/I Homes, Inc. (NYSE: MHO) announced a proposed offering of $300 million in senior notes due 2030, subject to market conditions. The company plans to use $250 million of the proceeds to redeem its 5.625% senior notes due 2025, with the remaining funds allocated for general corporate purposes. The offering will be conducted under Rule 144A and Regulation S, and is unregistered under the Securities Act. This announcement highlights M/I Homes' strategic financial management and ongoing commitment to its growth and corporate initiatives.
M/I Homes, Inc. reported a robust performance for Q2 2021, achieving record highs in net income, homes delivered, and revenue. Net income soared 97% to $107.6 million ($3.58/share), with revenue rising 35% to $961 million. The backlog of homes increased by 49% to 5,488 units, valued at $2.5 billion, reflecting strong demand. The company announced a $100 million share repurchase authorization, signaling confidence in future performance and commitment to shareholder value. The homebuilding debt to capital ratio improved to 31%, with shareholders' equity reaching an all-time high of $1.5 billion.
M/I Homes, Inc. (NYSE:MHO) has announced a webcast for its second quarter earnings scheduled for July 28, 2021, at 4:00 p.m. Eastern Time. Interested participants can access the live webcast by visiting www.mihomes.com. The company is set to report its earnings before the market opens on the same day. M/I Homes is a significant player in the single-family home market, having sold over 130,800 homes across multiple states including Ohio, Florida, Texas, and North Carolina.
M/I Homes, Inc. (NYSE:MHO) reported a remarkable performance for Q1 2021, achieving a 49% increase in new contracts, totaling 3,109, and a 68% rise in backlog units reaching 5,479. Revenue surged 43% to $828.8 million, while pre-tax income soared 167% to $110.3 million. Net income also increased 167% to $84.9 million ($2.85 per diluted share). Shareholders' equity hit an all-time high of $1.4 billion, and backlog sales value rose 82% to $2.4 billion. Cash reserves totaled $293 million, with no borrowings against a $500 million credit facility.
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