Financial Performance - The Company reported pre-tax income of 146.1million,a19180.2 million in Q1 2024, and net income of 111.2million(3.98 per diluted share), down from 138.1million(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 3billion,a14112 per share [7][8]. - Financial services pre-tax income increased to 16.1millionfrom12.3 million in Q1 2024 [19][20]. - The Company repurchased 50millionofcommonstockduringthequarter[8].SalesandDeliveries−Homesdelivereddecreasedby81.56 billion, a 13% decrease from 1.79billionayearago,withbacklogunitsdown161,559 million, with an average sales price of 548,000,comparedto3,391unitsvaluedat1,789 million and an average sales price of 528,000inQ12024[23].RegionalPerformance−Northernregion′snewcontractsdecreasedby8525,000 in Q1 2024 to 556,000inQ12025[23].−Southernregion′saveragesalespriceforbacklogincreasedfrom530,000 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].
M/I Homes(MHO)2025-04-23 12:04