M/I Homes Reports 2020 First Quarter Results

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Go back to M/I Homes Reports 2020 First Quarter Results

M/I Homes (MHO) Tops Q1 EPS by 27c, Revenues Beat

April 29, 2020 8:33 AM EDT

M/I Homes (NYSE: MHO) reported Q1 EPS of $1.09, $0.27 better than the analyst estimate of $0.82. Revenue for the quarter came in at $577.6 million versus the consensus estimate of $545.75 million.

2020 First Quarter Highlights:

Homes delivered increased 26% to a first quarter record of 1,495 homesRevenue increased 20% to a first quarter record of $577.6 millionPre-tax income increased 76% to $41.4 million, a first quarter recordRecord first quarter net income of $31.7 million ($1.09 per diluted share), a 79% increase compared to $17.7 million ($0.63 per diluted share) in 2019New contracts increased 27% to 2,089 contracts, an all-time quarterly recordBacklog units increased 23% to 3,265,... More