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Sep 30, 2020
M/I Homes Q3 2020 Earnings Report
M/I Homes reported record third quarter results driven by significant increases in new contracts, homes delivered, and net income.
Key Takeaways
M/I Homes announced record results for the third quarter of 2020, with a 71% increase in new contracts, a 29% increase in homes delivered, and a 94% increase in net income. The company's backlog sales value increased 60% to a record $1.8 billion.
New contracts increased 71% to 2,949, an all-time quarterly record.
Backlog units increased 54% to 4,503, an all-time quarterly record.
Revenue increased 30% to an all-time quarterly record of $847.9 million.
Net income increased 94% to $73.5 million ($2.51 per diluted share).
Revenue by Segment
Forward Guidance
M/I Homes has significant operating momentum and is poised to continue delivering very strong results in 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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