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Dec 31, 2019
M/I Homes Q4 2019 Earnings Report
M/I Homes reported record revenue, new contracts, homes delivered, and pre-tax income.
Key Takeaways
M/I Homes reported a strong fourth quarter and year-end results for 2019. Fourth-quarter revenue increased by 3% to $742 million, and net income increased by 29% to $41.8 million, or $1.44 per diluted share. The company achieved record revenue of $2.5 billion for the full year, a 9% increase, and record homes delivered of 6,296, also a 9% increase.
New contracts increased 43% to a fourth quarter record of 1,677 contracts.
Backlog sales value increased 18% to a fourth quarter record $1.1 billion, and backlog units increased 22%.
Revenue increased 3% to a fourth quarter record of $742 million.
Homes delivered increased 5% to an all-time quarterly record 1,921 homes.
Revenue by Segment
Forward Guidance
Housing market conditions remain strong, and the company is well-positioned for a very good 2020, given the strength of the record backlog and solid competitive position across each of the 15 markets.
Positive Outlook
- Strength of record backlog
- Solid competitive position across each of our 15 markets
- Housing market conditions remain strong
- Shareholders’ equity reached a record level of $1.0 billion at year-end
- Book value per share above $35
Historical Earnings Impact
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Avg. Return Before/After Earnings
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