M/I Homes Q2 revenue up 5% on record homes deliveries

M/I Homes

23/07/2025 12:40

Overview

M/I Homes Q2 revenue rises 5% to $1.2 bln, record homes delivered

Net income falls to $121 mln from $147 mln, pre-tax income down 18%

Company repurchased $50 mln of common stock, shareholders' equity up 12%

Outlook

Company plans to grow average community count by 5% this year

Company confident in housing industry fundamentals despite uncertainty, challenging market conditions

Result Drivers

RECORD REVENUE - Achieved record Q2 revenue of $1.2 bln, driven by a 6% increase in homes delivered

CHALLENGING MARKET - CEO cites challenging market conditions impacting pre-tax income, which fell 18%

BACKLOG DECLINE - Backlog units decreased 25% to 2,577 homes, with a 22% drop in sales value

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$4.42
Q2 Net Income
$121 mln


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "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 $151.00, about 18.3% above its July 22 closing price of $123.33

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release: ID:nPn8Y8wpXa

(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.)