M/I Homes Q1 net income falls 39% YoY to $67.8M; EPS $2.55 vs $3.98

M/I HOMES, INC.

2026-Q1 EPS reported $2.55 vs consensus $2.53 ▲ beat (+0.9%)

Revenue down 6% to $921M; homes delivered fell 3% to 1,914 units.
New contracts increased 3% to 2,350; backlog units down 21% to 2,245.
Gross margin 22%; pre-tax income margin 10%, down from 17% a year ago.
Record shareholders' equity $3.2B; repurchased $50M of common stock.
Cancellation rate improved to 8% from 10% a year earlier.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

M/I HOMES, INC. reported the three months ended March 31, 2026 results: revenue $921 million, net income $67.8 million, EPS $2.55 per diluted share.

Period: the three months ended March 31, 2026
Revenue: $921 million
Net income: $67.8 million
EPS: $2.55 per diluted share
Result: reported results

Exact text from the filing

for the three months ended March 31, 2026. 2026 First Quarter Highlights: • New contracts increased 3% to 2,350 • Homes delivered decreased 3% to 1,914 • Revenue declined 6% to $921 million • Gross margin of 22% • Pre-tax income of $89 million, 10% of revenue, down 39% • Net income of $68 million ($2.55 per diluted share) versus $111 million ($3.98 per diluted

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Source: SEC EDGAR

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