Markets
MHO

M/I Homes Q2 Profit Up 80%, Results Beat View - Quick Facts

(RTTNews) - M/I Homes, Inc. (MHO), a builder of single-family homes, on Wednesday reported second-quarter net income of $54.51 million or $1.89 per share, up sharply from $30.25 million or $1.08 per share in the year-ago period.

Total revenue for the quarter grew 15 percent to $714.19 million from $623.69 million in the prior-year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share for the quarter on revenues of $597.88 million. Analysts' estimates typically exclude special items.

The company noted that homes delivered increased 19 percent to a second-quarter record of 1,835 homes, while new contracts increased 31 percent to all-time quarterly record of 2,261 contracts.

Backlog units increased 30 percent to 3,691, and backlog sales value reached $1.46 billion, both all-time quarterly records.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MHO

Latest Markets Videos

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More