M/I Homes reports 34% Q1 net income increase to $138.1m, 8% more homes delivered, and 5% revenue growth to $1.05bn.
M/I Homes, a homebuilding company, reported a 34% increase in Q1 net income to a record $138.1m, with 8% more homes delivered (2,158) and revenue rising 5% to $1.05bn. The company ended Q1 with a record shareholders' equity of $2.6bn, zero borrowings, and a homebuilding debt to capital ratio of 21%. M/I Homes' strong performance was attributed to increased new contracts, strong margins, and returns.
April 24, 2024
3 Articles