Loading...
•
Sep 30, 2023
M/I Homes Q3 2023 Earnings Report
M/I Homes reported record third quarter revenue and net income, driven by a significant increase in new contracts and home deliveries.
Key Takeaways
M/I Homes announced strong third quarter results, featuring record revenue of $1.0 billion, a 50% increase in new contracts, and a record net income of $139.0 million. The company's performance was supported by a solid 23% return on equity and a strong financial position, ending the quarter with record shareholders’ equity and substantial cash reserves.
New contracts increased by 50% to 2,021 contracts.
Homes delivered increased by 3% to 2,096 homes.
Revenue increased by 3% to a record $1.0 billion.
Net income increased by 6% to a record $139.0 million, or $4.82 per diluted share.
Revenue by Segment
Forward Guidance
M/I Homes is positioned to have a very strong 2023, given its performance through three quarters of this year, along with the strength of its balance sheet, low debt levels, diverse product offerings and well-located communities.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...