secwatch.observer — SEC 8-K summary
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Issuer:     M/I HOMES, INC. (MHO)
CIK:        0000799292
Form:       8-K
Filed at:   2026-10-21T11:35:22+00:00
Accession:  0000799292-26-000030
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

M/I Homes Q3 net income falls 38% to $66.6M; EPS $2.56 vs $3.92 on 5% revenue decline
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- Q3 revenue fell 5% to $1.1B; homes delivered 2,241 (-2%) and new contracts 1,861 (-2%); backlog value $1.1B (-9%) on 2,046 homes (-7%) at $539,000 average.
- Net income $66.6M ($2.56/diluted share) vs $106.5M ($3.92); pre-tax income $86.9M, down 38%, including $4.7M inventory charges ($0.14/share).
- Gross margin 20.9%, or 21.3% excluding inventory charges; cancellation rate 12% in both periods; community count 246 vs 233 a year ago.
- Record equity $3.3B, book value/share $130; cash $621M, no borrowings on $900M credit facility; homebuilding debt/capital 18%, net debt/capital 2%; repurchased $50M stock.
- Nine-month net income $213.5M ($8.14/share) vs $339.0M ($12.32); pre-tax $280.6M vs $446.0M; CEO cites higher mortgage rates, weaker demand and economic uncertainty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799292/000079929226000030/0000799292-26-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799292/000079929226000030/mho-20261021.htm
  HTML page:      https://secwatch.observer/filing/0000799292-26-000030

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer