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M/I Homes
🇺🇸 NYSE:MHO
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•
Mar 31

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.

Total Revenue
$976M
Previous year: $1.05B
-6.8%
EPS
$3.98
Previous year: $4.78
-16.7%
Net New Contracts
2.29K
Previous year: 2.55K
-10.0%
Northern Contracts
1.07K
Previous year: 1.16K
-8.3%
Southern Contracts
1.23K
Previous year: 1.39K
-11.4%
Gross Profit
$253M
Previous year: $283M
-10.8%
Cash and Equivalents
$776M
Previous year: $870M
-10.8%
Total Assets
$4.59B
Previous year: $4.21B
+8.9%

M/I Homes

M/I Homes

M/I Homes Revenue by Segment

M/I Homes Revenue by Geographic Location

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

Company Overview

Full financial data and analysis

View M/I Homes