M/I Homes Q1 revenue record $1.0B (+16%), EPS $3.64 beat prior year $3.16

M/I HOMES, INC.

2023-Q1 EPS reported $3.64 revenue$1,000,530,000

Revenue $1.0B (+16% YoY), a Q1 record; pre-tax income $136M (+11%) record; net income $103.1M ($3.64 diluted EPS) record.
Homes delivered up 10% to 2,007; average sales price $486K (+6%); communities grew to 200.
New contracts down 14% to 2,171; backlog sales value $1.7B (-38%); cancellation rate 13% vs 7% last year.
Shareholders' equity record $2.2B (+28%), book value $79/share; cash $543M, zero borrowings on $650M credit facility.
Return on equity 26%; CEO cites strong fundamentals and undersupply despite higher rates and inflation.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

M/I HOMES, INC. reported the three months ended March 31, 2023 results: revenue $1.0 billion, net income $103.1 million, EPS $3.64 per diluted share.

Period: the three months ended March 31, 2023
Revenue: $1.0 billion
Net income: $103.1 million
EPS: $3.64 per diluted share
Result: reported results

Exact text from the filing

Revenue increased 16% to $1.0 billion, a first quarter record • Pre-tax income increased 11% to $136.0 million, a first quarter record • Net income increased 12% to a first quarter record $103.1 million ($3.64 per diluted share)

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Source: SEC EDGAR

accession 0000799292-23-000045

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