#United States #Columbus #Housing Market #M/I Homes #New Contracts

M/I Homes Reports Q2 Results for 2026

Columbus, Ohio – M/I Homes, Inc. (NYSE: MHO) recently announced its financial results for the second quarter ending June 30, 2026, highlighting an impressive performance amidst challenging market conditions. With new contracts reaching a record high, M/I Homes demonstrates resilience in a competitive housing market.

Key Highlights

• - New contracts surged by 15%, totaling 2,387, setting a second-quarter record.
• - Despite this growth, home deliveries fell by 6% to 2,206 homes.
• - Revenue fell by 9% to $1.1 billion, influenced by delivery decreases.
• - The gross margin remained stable at 22%.
• - The company reported a pre-tax income of $105 million, including inventory-related charges of $4 million.
• - Net income was recorded at $79 million, or $3.02 per diluted share, down from $121 million in the same quarter of 2025.

The chairman and CEO, Robert H. Schottenstein, expressed optimism regarding these results, stating:

“We delivered solid second quarter results despite ongoing challenging market conditions. Highlights included a record number of new contracts, a healthy gross margin, and a consistent pre-tax margin.”

Financial Performance Breakdown

For the first half of 2026, the company achieved a pre-tax income of $193.7 million and a net income of $146.9 million, which translates to $5.57 per diluted share. This is in contrast to the previous year's performance, which saw a higher pre-tax income of $306.2 million.

New contracts for the first half of 2026 totaled 4,737, up 8% from last year. Although homes sold in the quarter dropped, the backlog at June 30 was valued at $1.31 billion, indicating sustained demand despite a reduction in total new deliveries across the industry.

Operational Highlights

While home deliveries decreased, the company's cancellation rate improved to 8% in Q2 2026 from 13% last year. This positive trend suggests enhanced customer satisfaction and commitment in a competitive market. The backlog units reduced by 6% to 2,426 homes with an average sales price of $538,000.

The financial health of M/I Homes remains robust, with shareholders' equity reaching a record $3.2 billion and a debt-to-capital ratio of 18%. The firm’s cash position was solid, maintaining $736 million with no borrowings under its $900 million unsecured credit facility.

Future Outlook

M/I Homes remains confident in the long-term viability of the housing market and its own business strategy. Schottenstein emphasized:

“Given our geographic footprint, diverse product offerings, and focus on quality locations, we are strategically positioned for a successful second half of 2026.”

The company's upcoming earnings conference call is scheduled for today at 10:30 AM Eastern Time, providing investors an opportunity to gain further insights into the company’s strategic direction going forward.

To stay updated with the latest from M/I Homes, interested parties can access the live broadcast on the company's investor relations page or follow their website for future updates.

In conclusion, M/I Homes' adaptability and strong management during fluctuating market conditions showcase its ability to maintain relevant momentum through customer-focused strategies, making it a prominent player in the homebuilding sector as it approaches its 50th year in operation in 2026.