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Jun 30
M/I Homes Q2 2025 Earnings Report
M/I Homes reported solid second quarter results with record revenue and homes delivered, despite challenging market conditions.
Key Takeaways
M/I Homes, Inc. announced its second quarter 2025 results, reporting a net income of $121.2 million and diluted EPS of $4.42. The company achieved record second-quarter revenue of $1.16 billion and delivered a record 2,348 homes. Despite a decrease in new contracts and backlog value compared to the previous year, the company maintained strong gross margins and a robust balance sheet.
Net income for Q2 2025 was $121.2 million, a decrease from $146.7 million in Q2 2024.
Diluted EPS for Q2 2025 was $4.42, down from $5.12 in Q2 2024.
Homes delivered increased by 6% to a record 2,348 homes in Q2 2025.
Total revenue reached a record $1.16 billion for the second quarter of 2025.
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
M/I Homes expects to continue strategically investing in operations and anticipates growing its average community count by approximately 5% this year, despite ongoing challenging market conditions.
Positive Outlook
- Confidence in the underlying fundamentals of the housing industry.
- Strong balance sheet with zero borrowings under the $650 million unsecured credit facility.
- Cash position of $800 million.
- Homebuilding debt-to-capital of 18% and a net debt-to-capital ratio of negative 3%.
- On track to grow average community count by approximately 5% this year.
Challenges Ahead
- Continued choppy and challenging market conditions.
- Uncertain environment for the housing industry.
- Potential risks from economic environment and interest rates.
- Risks related to availability of resources and competition.
- Potential impact of governmental rules, regulations, and trade policies.
Revenue & Expenses
Visualization of income flow from segment revenue to net income