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Dec 31, 2025
M/I Homes Q4 2025 Earnings Report
M/I Homes reported a decline in revenue and profitability for Q4 2025 amid charges related to inventory and warranty.
Key Takeaways
M/I Homes posted Q4 2025 results showing a drop in revenue and net income due to substantial inventory and warranty charges. New contracts grew modestly, while deliveries declined. The company ended the quarter with strong liquidity and more active communities.
Revenue decreased to $1.15 billion in Q4 2025, down from $1.21 billion a year earlier
Net income declined to $64 million, impacted by $51 million in charges
Adjusted EPS was $3.91, compared to $4.71 last year
New contracts increased by 9% while home deliveries declined 4%
Revenue by Segment
Forward Guidance
Management remains confident in the long-term fundamentals of the housing market despite near-term challenges.
Positive Outlook
- Strong liquidity position with $689 million in cash
- No borrowings under the $900 million credit facility
- Improved cancellation rate to 10%
- Increase in active communities to 232
- Continued stock repurchases signaling confidence
Challenges Ahead
- Revenue and net income declined year-over-year
- Higher inventory and warranty-related charges
- Decrease in homes delivered and backlog units
- Lower average selling prices in backlog
- Challenging homebuilding conditions noted
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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