M/I Homes Q1 revenue falls more than expected on "challenging market conditions"

M/I Homes

22/04/2026 12:38

Overview

U.S. homebuilder's Q1 revenue declined 6% yr/yr, missing analyst expectations

Adjusted EPS for Q1 fell to $2.55 from $3.98 a year ago

Company repurchased $50 mln of common stock during the quarter

Outlook

Company did not provide specific guidance for the current quarter or full year

Result Drivers

CHALLENGING MARKET CONDITIONS - Co said results were affected by challenging market conditions, per CEO Robert H. Schottenstein

NEW CONTRACTS - New contracts increased 3% yr/yr, cited by co as a positive in Q1

BACKLOG DECLINE - Backlog units and sales value declined sharply, indicating fewer future deliveries

Company press release: ID:nPnlwSYra

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$920.7 mln
$936.5 mln (3 Analysts)
Q1 EPS
$2.55
Q1 Net Income
$67.832 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the homebuilding peer group is "hold."

Wall Street's median 12-month price target for M/I Homes Inc is $160.00, about 24.1% above its April 21 closing price of $128.88

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)