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Mar 31, 2021
M/I Homes Q1 2021 Earnings Report
M/I Homes reported record-setting first quarter results, marked by substantial growth in new contracts, homes delivered, and pre-tax income.
Key Takeaways
M/I Homes reported a record-setting first quarter with a 49% increase in new contracts, a 35% increase in homes delivered, and a 167% increase in pre-tax income. The company's financial service business also produced record results, contributing to an improved pre-tax income percentage and a 25% return on equity.
New contracts increased by 49% to 3,109, marking an all-time quarterly record.
Backlog units increased by 68% to 5,479, also an all-time quarterly record.
Revenue increased by 43% to $828.8 million, setting a first quarter record.
Net income increased by 167% to $84.9 million ($2.85 per diluted share).
M/I Homes
M/I Homes
M/I Homes Revenue by Segment
Revenue by Segment
Housing Revenue
CapyFin.comLand Revenue
CapyFin.comFinancial Services Revenue
CapyFin.com Forward Guidance
Company has tremendous momentum and are very well positioned to have another outstanding year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income