#United States #Q3 Results #Columbus #Real Estate #M/I Homes

M/I Homes Announces Q3 2025 Results

M/I Homes, Inc. (NYSE: MHO) has shared its financial performance for the third quarter of 2025, marking notable changes amidst a challenging housing market. The period ending September 30, 2025, revealed a mixed bag of results that have industry stakeholders paying close attention.

Key Highlights

• - Homes Delivered: The company reported a slight uptake in the number of homes sold, with 2,296 units delivered—a record for the third quarter—which marks a 1% increase compared to 2,271 units in the previous year. This indicates a steady demand in some sectors, despite sluggish market conditions.
• - Financial Metrics: Revenue for the quarter dipped by 1%, totaling $1.1 billion, with pre-tax income of $140 million constituting 12% of revenue—this marks a significant drop of 26% compared to the prior year’s performance.
• - Net Income: Net income saw a considerable fall, landing at $106.5 million or $3.92 per diluted share compared to $145 million ($5.10 per diluted share) in Q3 2024.
• - Contracts: New contracts decreased by 6%, with 1,908 contracts signed this quarter against 2,023 last year, reflecting the cautious buyer sentiment in today’s real estate market.
• - Backlog and Sales Value: The company's backlog is valued at approximately $1.21 billion, marking a substantial decrease of 30% year-over-year, alongside a decline in backlog units by 31% to 2,189 homes.

Performance Insights

Robert H. Schottenstein, the CEO and President of M/I Homes, provided an optimistic outlook despite the ongoing challenges faced in the market. He acknowledged the firm’s strong pre-tax income level and record number of home deliveries, attributing this success to a solid strategy and robust financial positioning.

Shareholder Value & Credit Facility

Reflecting confidence in its business model, M/I Homes repurchased $50 million in common stock during the quarter and saw its shareholders' equity rise to a record level of $3.1 billion, an 11% increase from the previous year. Furthermore, the company received a credit rating upgrade from Moody's to Ba1 and extended its bank credit facility to 2030, substantially boosting its borrowing capacity to $900 million.

Future Prospects

Looking ahead, M/I Homes seems optimistic about sustaining long-term growth within the housing sector despite market volatility. Schottenstein emphasized strong fundamentals and the company's favorable balance sheet with a homebuilding debt-to-capital ratio of just 18% and zero borrowings under its credit facility as of the quarter’s conclusion.

On October 22, 2025, M/I Homes is scheduled to host a live earnings conference call at 10:30 AM Eastern Time, where executives will further discuss the Q3 results and the company's strategic direction. Interested parties can tune in via the M/I Homes website.

Conclusion

Overall, despite facing obstacles in the current environment, M/I Homes continues to demonstrate resilience and adaptability. The company’s capacity to navigate these challenges while maintaining a consistent level of home deliveries shows a substantial commitment to both its shareholders and customers alike. As the year progresses, observers will closely watch how M/I Homes maneuvers through these turbulent waters and positions itself for future success.