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) 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.
M/I Homes, Inc. (NYSE: MHO) announced a webcast for its First Quarter Earnings on April 28, 2021, at 4:00 p.m. ET. The company, a leading builder of single-family homes, has sold over 127,650 homes and operates in multiple markets across the U.S., including Ohio, Indiana, and Florida. The webcast can be accessed through the company's website, and an archive will be available for those who cannot attend live.
M/I Homes, Inc. (NYSE: MHO) reported stellar fourth quarter and full year 2020 results. New contracts surged 27% to a record 2,128, while homes delivered reached an all-time high of 2,242, a 17% increase. Revenue also hit a record $906 million, up 22%. Net income increased 92% to $80.1 million, marking significant growth for the company. For the full year, net income rose 88% to $239.9 million, with record shareholders' equity of $1.3 billion. The company is well-positioned for continued success in 2021, driven by low mortgage rates and high home demand.
M/I Homes, Inc. (NYSE:MHO) will hold a Webcast on February 2, 2021, at 4:00 p.m. ET to discuss its Fourth Quarter and Year-End Earnings. The call can be accessed live via the company's website. M/I Homes is a prominent builder of single-family homes in various locations, having sold over 125,500 homes to date. Their homes are marketed under the trade names M/I Homes and Showcase Collection, among others. The company operates in multiple states, including Ohio, Florida, Texas, and Michigan.
M/I Homes, Inc. (MHO) reported impressive third quarter results for 2020, achieving record highs in several key areas. New contracts surged 71% to 2,949, while backlog units climbed 54% to 4,503. Revenue reached $847.9 million, a 30% increase, and pre-tax income jumped 90% to $95.1 million. Net income soared 94% to $73.5 million, equivalent to $2.51 per diluted share. Shareholders' equity also hit a record of $1.2 billion, a 23% growth from the previous year. The company maintained a healthy financial position, with a debt to capital ratio of 36% and no borrowings on its credit facility.
M/I Homes, Inc. (NYSE:MHO) will host a live webcast to announce its Third Quarter Earnings on October 28, 2020, at 4:00 PM ET. Investors can access the event via the company's website. M/I Homes, known for its single-family homes, has sold over 122,600 homes across multiple states including Ohio, Indiana, Illinois, and Texas. This event allows stakeholders to gain insights into the company's financial performance and strategic direction.
M/I Homes, Inc. (NYSE: MHO) has appointed Kumi D. Walker as a new member of its Board of Directors, effective August 11, 2020. Walker, who is the Chief Business Development & Strategy Officer at Root Insurance, brings extensive experience in business development and technology. This appointment fills a newly created board position and is expected to enhance the company's strategic direction, particularly in e-commerce and digital media solutions, according to Chairman and CEO Robert H. Schottenstein.
M/I Homes, Inc. (NYSE:MHO) reported record-breaking second quarter results for 2020, with new contracts rising 31% to 2,261 and backlog units up 30% to 3,691. Revenue increased 15% to $714 million, while net income soared by 80% to $54.5 million ($1.89 per diluted share). Shareholders' equity reached $1.1 billion, reflecting a 21% year-over-year increase. Despite challenges from COVID-19, the company maintained robust construction schedules, achieving a higher gross margin of 21.9%. The firm remains cautiously optimistic about future market conditions.
M/I Homes, Inc. (NYSE:MHO) will host a second quarter earnings webcast on July 29, 2020, at 4:00 p.m. Eastern Time. Interested parties can access the webcast live through the company’s website at www.mihomes.com. M/I Homes is a leading builder of single-family homes, having sold over 120,300 homes across various markets including Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and more.
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