Investors in M/I Homes, Inc. (MHO) need to pay close attention to the stock based on moves in the options market lately. That is because the July 18, 2025 $100.00 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also ...

COLUMBUS, Ohio, June 13, 2025 /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) announces the following Webcast: What: M/I Homes, Inc. Announces Second Quarter Webcast When: July 23, 2025 @ 10:30AM Eastern Time Where: http://www.mihomes.com How: Live over the Internet -- Simply log on to the web at the address above  Contact: Ann Marie Hunker, Vice President, Chief Accounting Officer, Controller of M/I Homes, Inc.,    [email protected], or 614-418-8225 Mark Kirkendall, Vice P ...

In the latest market close, M/I Homes (MHO) reached $109.46, with a +0.75% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.53%. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq decreased by 0.83%.The homebuilder's stock has dropped by 0.27% in the past month, falling short of the Construction sector's gain of 3.1% and the S&P 500's gain of 5.17%.The investment community will be paying close attention to the ...

Financial Data and Key Metrics Changes - The meeting reported that as of the record date, there were 26,772,622 common shares outstanding, with $27,933,000.87 shares present in person or by proxy, indicating a quorum for the meeting [26][27][35] Business Line Data and Key Metrics Changes - No specific business line data or key metrics were discussed in the provided content Market Data and Key Metrics Changes - No specific market data or key metrics were discussed in the provided content Company Strategy and Development Direction and Industry Competition - The company is focused on maintaining strong governance with the election of directors and the approval of executive compensation, which reflects a commitment to transparency and accountability [18][36] Management's Comments on Operating Environment and Future Outlook - No specific comments from management regarding the operating environment or future outlook were provided in the content Other Important Information - The company has ratified the appointment of Deloitte and Touche as its accounting firm for 2025, which is a standard practice to ensure financial oversight [36] Q&A Session All Questions and Answers Question: Election of Directors - The motion for the election of Nancy J. Kramer, Yvette McGee Brown, and Robert H. Schottenstein to the board of directors was moved and seconded, and they were subsequently elected [11][30][35] Question: Executive Compensation - The motion to approve the compensation of the company's named executive officers on an advisory basis was moved and seconded, and it was approved by the shareholders [13][31][36] Question: Appointment of Accounting Firm - The motion to ratify the appointment of Deloitte and Touche as the company's accounting firm for 2025 was moved and seconded, and it was approved by the shareholders [15][33][36]

Financial Performance - Revenue decreased 7% to $976.1 million, with homebuilding revenue at $944.6 million[130] - Net income decreased 19% to $111.2 million, or $3.98 per diluted share[129] - Operating income decreased to $140.9 million in Q1 2025 from $173.3 million in Q1 2024, reflecting a decline of 18.7%[141] - Total revenue for the three months ended March 31, 2025, was $976.1 million, a decrease of 6.7% from $1,046.7 million in the same period of 2024[141] - Income before income taxes decreased 19% to $146.1 million[129] - Cash generated from operating activities was $64.9 million in Q1 2025, down from $115.8 million in Q1 2024, primarily due to a $107.3 million increase in inventory purchases[171] Home Sales and Deliveries - New contracts declined 10% to 2,292 from 2,547 in the first quarter of 2025[126] - Number of homes delivered decreased 8% to 1,976 homes[126] - Homes delivered in the Northern region decreased from 843 in Q1 2024 to 826 in Q1 2025, while the Southern region saw a drop from 1,315 to 1,150[145] - The aggregate sales value of homes in backlog decreased to $1.56 billion in Q1 2025 from $1.79 billion in Q1 2024, a decline of 12.8%[145] - New contracts in the Southern region decreased from 1,385 in Q1 2024 to 1,227 in Q1 2025, a decline of approximately 11.4% due to weakened market demand[157] Pricing and Margins - Average sales price increased 1% from $471,000 to $476,000[126] - The average sales price of homes delivered in the Northern region increased by 2.3% to $494,000 in Q1 2025 from $483,000 in Q1 2024[145] - Gross margin percentage decreased by 300 basis points from 27.4% in Q1 2024 to 24.4% in Q1 2025, attributed to the mix of homes delivered and incentives offered[155] Community Development - Company opened 27 new communities and closed 21, ending with 226 active communities[139] - Company plans to increase average community count by about 5% by the end of 2025[139] - The company opened 16 new communities in the Northern region during Q1 2025, compared to 7 in Q1 2024, indicating a strategic expansion[153] Financial Services - Financial services revenue increased to $31.5 million in Q1 2025, up from $27.0 million in Q1 2024, marking a growth of 16.5%[146] - Revenue from mortgage and title operations increased by 17% to a record $31.5 million in Q1 2025, up from $27.0 million in Q1 2024, despite a 2% decrease in loan originations[158] - Operating income in the financial services segment increased by $3.6 million in Q1 2025 compared to Q1 2024, driven by higher revenue[159] Assets and Liabilities - Total assets increased to $4.59 billion as of March 31, 2025, compared to $4.55 billion at December 31, 2024[142] - As of March 31, 2025, the Company had a total assets amounting to $4.27 billion, with total liabilities of $1.32 billion and shareholders' equity of $2.95 billion[198] - The Company maintained a Consolidated Tangible Net Worth of $2.93 billion, exceeding the required minimum of $1.85 billion[184] Shareholder Actions - The company repurchased $50.1 million of outstanding common shares under the 2025 Share Repurchase Program during Q1 2025[175] Market Conditions - Mortgage interest rates have remained around 7% since the end of 2023, impacting homebuyer qualifications and affordability[207] - The annual inflation rate in the United States was 2.4% in March 2025, down from 3.5% in March 2024, which may stabilize costs for the company[206] Borrowing and Credit Facilities - The company has a borrowing capacity of up to $950 million under its revolving credit facilities as of March 31, 2025[208] - The Company has a Credit Facility with an aggregate commitment amount of $650 million, which can be increased to $800 million[181] - The MIF Mortgage Repurchase Facility has a maximum borrowing availability of $300 million and expires on October 21, 2025[185] - The Company expects to extend the MIF Mortgage Repurchase Facility before its expiration date, although no assurance can be provided[187]

Core Insights - M/I Homes, Inc. (MHO) reported a disappointing Q1 performance, with declines in both revenue and net income, indicating a loss in profitability and efficiency [1] Financial Performance - The company experienced declines in top and bottom lines during Q1, reflecting challenges in maintaining profitability [1] Investment Perspective - The analysis suggests a long-term investment horizon of 5-10 years, emphasizing a portfolio strategy that includes a mix of growth, value, and dividend-paying stocks, with a focus on value [1]

Financial Data and Key Metrics Changes - In the first quarter, new contracts decreased by 10% compared to last year, with a cancellation rate of 10% [10][18] - Revenues decreased by 7% to $976 million, while homes delivered decreased by 8% to 1,976 homes [11][21] - Gross margins were reported at 25.9%, down 120 basis points year-over-year but up 130 basis points from the previous quarter [10][21] - Pre-tax income decreased by 19% to $146 million, with a pre-tax income margin of 15% and a return on equity of 19% [12][23] - Earnings per diluted share decreased to $3.98 from $4.78 last year [24] Business Line Data and Key Metrics Changes - The mortgage and title operations achieved pre-tax income of $16.1 million, an increase of 31% from the previous year, with revenue increasing by 17% to a record $31.5 million [25] - The average mortgage amount increased to $406,000, while loans originated decreased by 2% to 1,530 [26] Market Data and Key Metrics Changes - New contracts in the Northern region decreased by 8%, while the Southern region saw a decrease of 11% compared to last year's first quarter [12] - Deliveries in the Southern region decreased by 13%, while the Northern region saw a decrease of 2% [13] Company Strategy and Development Direction - The company plans to continue offering mortgage rate buydown incentives to drive sales, indicating that gross margins may face pressure throughout the year [16] - The company remains optimistic about long-term growth in the homebuilding industry due to an undersupply of homes and increasing household formations [16] Management's Comments on Operating Environment and Future Outlook - Management noted that the macroeconomic environment remains challenging, with factors such as inflation, interest rate fluctuations, and consumer confidence impacting demand [9][10] - Despite the challenges, management expressed confidence in the company's strong balance sheet and land position, indicating readiness for future growth [15][94] Other Important Information - The company ended the quarter with a record $3 billion in equity and a debt-to-capital ratio of 19% [15] - The company has repurchased 13% of its outstanding shares since 2022, with $200 million remaining under the current board authorization [31] Q&A Session Summary Question: Insights on buyer demand shifts by geography and price point - Management noted no significant changes in demand across price points, with Smart Series communities performing well [38] - Tampa market showed some recovery, while Indianapolis and Chicago remained strong [41][42] Question: Spec strategy and margin differentials - Management indicated that spec sales account for 50% to 65% of sales, with slightly lower margins on spec products [52][53] Question: Order pace and units under construction - Management is cautious about starts and is managing construction on a subdivision basis, with a focus on maintaining good margins [64][66] Question: Impact of lot cost inflation and supply chain - Currently, there has been no significant impact from lot cost inflation, and costs are stable compared to last year [85][88] Question: Share repurchase strategy - Management is consistent with a $50 million repurchase strategy and is open to adjusting based on market conditions [99][100] Question: Gross margin backlog and pricing power - Management expects continued pressure on margins and noted that true pricing power is limited in the current environment [107][127]

M/I Homes (MHO) Q1 2025 Earnings Call April 23, 2025 10:30 AM ET Company Participants Phillip Creek - Executive VP, CFO & DirectorRobert Schottenstein - Chairman, President & CEODerek Klutch - President & CEO of M/I FinancialAlan Ratner - Managing DirectorBuck Horne - Managing Director - Equity ResearchJay McCanless - SVP - Equity Research Conference Call Participants Kenneth Zener - Senior Analyst Operator Good morning, ladies and gentlemen, and welcome to the MI Homes First Quarter Earnings Conference Cal ...

Core Insights - M/I Homes reported a revenue of $976.09 million for the quarter ended March 2025, reflecting a year-over-year decline of 6.8% and an EPS of $3.98, down from $4.78 a year ago, with a revenue surprise of -12.92% compared to the Zacks Consensus Estimate of $1.12 billion and an EPS surprise of -4.33% against the consensus estimate of $4.16 [1] Financial Performance - Homes in backlog totaled 2,847, slightly below the average estimate of 2,910 from two analysts [4] - The number of active communities was 223, compared to the average estimate of 224 [4] - New contracts totaled 2,292, which was lower than the average estimate of 2,599 [4] - The average sales price of homes in backlog was $548 thousand, slightly above the average estimate of $547.03 thousand [4] - The average home closing price was $476 thousand, below the average estimate of $489.71 thousand [4] - The aggregate sales value of homes in backlog was $1.56 billion, compared to the estimated $1.59 billion [4] - Homes delivered totaled 1,976, which was lower than the average estimate of 2,221 [4] - Financial services revenue was $31.52 million, slightly above the average estimate of $31.40 million, representing a year-over-year increase of 16.9% [4] - Homebuilding revenue was $940.03 million, below the average estimate of $1.09 billion, reflecting a year-over-year decline of 7.5% [4] Market Performance - Shares of M/I Homes have returned -7.4% over the past month, compared to the Zacks S&P 500 composite's -6.6% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Performance - The Company reported pre-tax income of $146.1 million, a 19% decrease from $180.2 million in Q1 2024, and net income of $111.2 million ($3.98 per diluted share), down from $138.1 million ($4.78 per diluted share) in the same period last year [4][8]. - The Company achieved a gross margin of 25.9% and a pre-tax profit margin of 15% [6][8]. - Shareholders' equity reached a record $3 billion, a 14% increase from the previous year, with a book value of $112 per share [7][8]. - Financial services pre-tax income increased to $16.1 million from $12.3 million in Q1 2024 [19][20]. - The Company repurchased $50 million of common stock during the quarter [8]. Sales and Deliveries - Homes delivered decreased by 8% to 1,976 homes compared to 2,158 homes in Q1 2024, while new contracts fell by 10% to 2,292 from 2,547 [5][8]. - Total new contracts decreased by 10% from 2,547 in Q1 2024 to 2,292 in Q1 2025 [23]. - Homes delivered fell by 8% from 2,158 in Q1 2024 to 1,976 in Q1 2025 [23]. - The cancellation rate increased to 10% in Q1 2025 from 8% in Q1 2024 [5][8]. Backlog and Sales Value - The backlog sales value at March 31, 2025, was $1.56 billion, a 13% decrease from $1.79 billion a year ago, with backlog units down 16% to 2,847 homes [5][8]. - The backlog increased to 2,847 units valued at $1,559 million, with an average sales price of $548,000, compared to 3,391 units valued at $1,789 million and an average sales price of $528,000 in Q1 2024 [23]. Regional Performance - Northern region's new contracts decreased by 8% from 1,162 in Q1 2024 to 1,065 in Q1 2025 [23]. - Southern region's homes delivered dropped by 13% from 1,315 in Q1 2024 to 1,150 in Q1 2025 [23]. - Northern region's average sales price for backlog increased from $525,000 in Q1 2024 to $556,000 in Q1 2025 [23]. - Southern region's average sales price for backlog increased from $530,000 in Q1 2024 to $540,000 in Q1 2025 [23]. Land Position - Total land position increased from 47,457 lots in Q1 2024 to 51,097 lots in Q1 2025 [23]. - Total lots owned increased from 23,826 in Q1 2024 to 25,210 in Q1 2025 [23]. - Total lots under contract rose from 23,631 in Q1 2024 to 25,887 in Q1 2025 [23]. Community Growth - M/I Homes plans to grow its community count by an average of 5% this year, with 226 active communities as of March 31, 2025 [7][8].