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Mar 31, 2025
M/I Homes Q1 2025 Earnings Report
M/I Homes reported a decline in revenue and earnings compared to the prior year quarter.
Key Takeaways
M/I Homes saw a drop in revenue and net income in Q1 2025 amid challenging market conditions. Despite the declines, the company maintained strong margins, set a record for shareholder equity, and held significant cash reserves.
Revenue by Segment
Forward Guidance
Management remains optimistic for 2025 despite continued market challenges.
Positive Outlook
- Record shareholders' equity of $3 billion
- Strong cash balance of $776 million
- 226 active communities, a company record
- Homebuilding debt-to-capital ratio at 19%
- Gross margin held strong at 25.9%
Challenges Ahead
- New contracts down 10% year-over-year
- Homes delivered declined 8%
- Revenue declined 7% from prior year
- Backlog units and value decreased significantly
- Consumer confidence remains weak
Historical Earnings Impact
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Avg. Return Before/After Earnings
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