M/I HOMES, INC. (MHO) Form 10-Q — Jul 31, 2026
M/I Homes reported a significant decline in financial performance for the six months ended June 30, 2026, with net income falling 37% to $146.9 million compared to the prior year. Revenue decreased 7% to $1.98 billion, driven by a 5% drop in homes delivered and lower average sales prices due to increased sales incentives. Gross margin contracted 310 basis points to 22.1%, impacted by higher lot costs, mortgage rate buydowns, and inventory charges. Operational metrics showed mixed results, as new contracts increased 8% to a record 4,737 homes, reflecting strong demand supported by affordability incentives.
Key figures
- Eps
- 5.57
- Revenue
- 1983965000
- Net Income
- 146900000
- Cash Position
- 735941000
- Backlog
- 2426
- New Contracts
- 4737
- Homes Delivered
- 4120
- Warranty Charges
- 5500000
- Inventory Charges
- 4200000
- Share Repurchases
- 100116000
- Gross Margin Percent
- 22.1
Price after filing
Close on the filing date to close N calendar days later (from $146.13). Historical, not a forecast.
AI analysis
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