M/I HOMES INC Stock Price, News & Analysis

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.

M/I Homes, Inc. (NYSE:MHO) will host a webcast on February 2, 2022, at 4:00 p.m. ET to discuss its fourth quarter and year-end earnings. The company, recognized as a leading builder of single-family homes, has sold over 135,000 homes and operates in multiple U.S. locations including Ohio, Indiana, Illinois, Florida, Texas, and North Carolina. Investors can access the live webcast via the company's website. Following the announcement, the earnings report will be made available before the market opens on the same day.

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.