M/I Homes Q3 net income $139M ($4.82 EPS); new contracts up 50% YoY

M/I HOMES, INC.

2023-Q3 EPS reported $12.58 revenue$3,060,914,000

Record Q3 revenue of $1.0B, up 3% YoY; pre-tax income record $178M, up 7%.
New contracts surged 50% to 2,021; deliveries edged up 3% to 2,096 homes.
Shareholders' equity record $2.4B, book value $87 per share; no borrowings on $650M credit facility.
Gross margin 27%, pre-tax income margin 17%, ROE 23%.
Cancellation rate improved to 10% from 17% a year ago; communities grew to 204 from 178.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

M/I HOMES, INC. reported the nine months ended September 30, 2023 results: net income $360.1 million, EPS $12.58 per diluted share.

Period: the nine months ended September 30, 2023
Net income: $360.1 million
EPS: $12.58 per diluted share
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2023, net income decreased slightly to $360.1 million, or $12.58 per diluted share, compared to $360.3 million, or $12.59 per diluted share, for the same period of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

M/I HOMES, INC. reported the three months ended September 30, 2023 results: revenue $1.0 billion, net income $139.0 million, EPS $4.82 per diluted share.

Period: the three months ended September 30, 2023
Revenue: $1.0 billion
Net income: $139.0 million
EPS: $4.82 per diluted share
Result: reported results

Exact text from the filing

Third Quarter Highlights: • New contracts increased 50% to 2,021 contracts • Delivered 2,096 homes, up 3% from 2022’s 2,026 homes delivered • Record third quarter revenue of $1.0 billion, up 3% from 2022’s third quarter • Pre-tax income increased 7% to $178.0 million, a third quarter record • All-time quarterly record net income of $139.0 million ($4.82 per

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Source: SEC EDGAR

accession 0000799292-23-000115

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