MHO
M/I Homes, Inc.133.26
-1.67-1.24%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Demand traffic up; specs dominate sales
Q&A surfaced improving traffic into 2026's selling season across most markets, with Orlando strongest, Tampa rebounding, and new growth in Fort Myers/Naples, while Austin and San Antonio lag. Management highlighted a shift to 65-75% spec sales from under 50% five years ago, fueling rate buydowns to sub-5% fixed rates that resonate best. Proactive impairments on entry-level communities below $375k ASP aim to lift pace and margins, unlike recessionary hits. Construction costs fell 2%, cycle times improved 5%, and backlog margins exceed specs by 100bps. No margin guidance offered. Specs now dominate two-thirds of closings. Optimistic tone on spring demand; watch execution in new communities.
Key Stats
Market Cap
3.52BP/E (TTM)
7.82Basic EPS (TTM)
17.04Dividend Yield
0%Recent Filings
8-K
Director Traeger retires 2026
10-K
FY2025 10-K filing
M/I Homes filed its 10-K for FY2025 ended December 31, 2025, but financial statements and quarterly results not disclosed in the provided filing. Exhibits detail amended director and executive deferred compensation plans effective February 11, 2026, allowing deferral of retainers, meeting fees, and bonuses into common shares with distribution upon termination or specified dates. No revenue, EPS, or cash flow figures provided. Q4 metrics unavailable. Liquidity and capital allocation not detailed. Market value of non-affiliate shares hit $2.9 billion as of June 30, 2025. Plans remain unfunded. Housing demand fluctuations threaten momentum.
8-K
Q4 revenue drops 5%
M/I Homes reported Q4 2025 revenue down 5% to $1.1B, with homes delivered off 4% at 2,301 amid $51M charges for inventory and warranties slashing net income to $64M ($2.39/share). Full-year revenue fell 2% to $4.4B, pre-tax income $527M (12% of revenue), yet shareholders' equity hit record $3.2B. Backlog plunged 29% to 1,809 units.
10-Q
Q3 FY2025 results
M/I Homes delivered a Q3 FY2025 record 2,296 homes, lifting revenue to $1.13B (down 1% y/y) while Southern operations absorbed $6.3M inventory impairments that dragged operating income 26% y/y to $135.3M. Diluted EPS fell to $3.92 (down 23% y/y) on 27,188 shares, reconciled to $106.5M net income. Cash dipped to $734M from inventory builds, yet $809M revolver availability and $696M senior notes (due 2028/2030) leave liquidity solid. Share repurchases totaled $150M YTD. Elevated rates crimp demand.
8-K
Q3 homes up, profits down
M/I Homes reported Q3 2025 results with homes delivered up 1% to a record 2,296, yet revenue dipped 1% to $1.1 billion amid challenging market conditions. Pre-tax income fell 26% to $140 million, hit by $7.6 million in inventory charges, while net income dropped to $106.5 million or $3.92 per diluted share. Backlog units plunged 31% to 2,189, but average sales price hit a record $553,000. Shareholders' equity climbed 11% to $3.1 billion; Moody's upgraded the rating to Ba1. Strong balance sheet. Credit facility extended to 2030 at $900 million.
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