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Jun 30, 2024
M/I Homes Q2 2024 Earnings Report
M/I Homes reported a record-breaking second quarter in 2024, marked by significant growth in revenue, income, and shareholder equity.
Key Takeaways
M/I Homes announced record second-quarter results for 2024, with a 9% increase in revenue to $1.1 billion and a 24% increase in net income to $146.7 million ($5.12 per diluted share). The company's pre-tax income also reached an all-time quarterly record of $194.1 million. Additionally, shareholders' equity reached a record $2.7 billion.
Homes delivered increased 12% to 2,224.
Revenue increased 9% to $1.1 billion, a second quarter record.
Pre-tax income increased 25% to $194.1 million, 17.5% of revenue, all-time quarterly records.
Net income increased 24% to an all-time quarterly record of $146.7 million ($5.12 per diluted share).
Revenue by Segment
Forward Guidance
M/I Homes is positioned to have a very strong 2024, supported by its first-half performance, strong balance sheet, low debt levels, diverse product offerings, and well-located communities.
Positive Outlook
- Strong first-half performance.
- Strong balance sheet.
- Low debt levels.
- Diverse product offerings.
- Well-located communities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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