Core Viewpoint - M/I Homes has shown significant stock performance, with a 235.4% increase since early January 2023, outperforming the S&P 500's 46.3% rise during the same period, and a 258.6% increase since being rated a 'buy' in August 2022 [1] Financial Performance - In 2022, M/I Homes reported revenue of $4.13 billion, which declined to $4.03 billion in 2023, reflecting a year-over-year decrease of 2.4% [3] - The average price of homes delivered increased from $479,000 to $483,000, but deliveries fell from 8,366 to 8,112 homes due to inflation and high interest rates [3] - Net income decreased from $490.7 million to $465.4 million, while operating cash flow surged from $184.1 million to $552.1 million, with adjusted operating cash flow showing a modest increase from $551.8 million to $566.5 million [4] - EBITDA fell from $705.4 million to $648.2 million [4] Contracts and Backlog - New contracts surged to 7,977 homes in 2023, up from 6,668 homes in 2022, but the backlog decreased from 3,137 homes to 3,002 homes [5] - The cancellation rate improved from 14.3% to 11.4%, but the average price of homes in backlog fell from $541,000 to $525,000 [5] Recent Developments - In the first half of 2024, revenue was $2.16 billion, an increase from $2.01 billion in the same period of 2023, driven by an increase in homes delivered from 3,997 to 4,382 [6] - Despite a decline in the average price of homes delivered from $489,000 to $477,000, net income rose by 28.8% from $221.1 million to $284.8 million [7] - Backlog improved to 3,422 homes by the end of the second quarter of 2024, although still down from 3,508 homes at the end of the second quarter of 2023 [7] Valuation and Market Position - M/I Homes is considered cheap relative to peers, with a price-to-earnings ratio of 7.5, compared to higher ratios for competitors [9] - Potential upside for shares ranges from 46.3% to 81.3% based on various valuation metrics, while downside risk is limited to 6.7% [8] Share Repurchase Program - The company announced a $250 million share repurchase program, having already repurchased $75.6 million worth of stock year-to-date, with net debt at only $79.7 million [10] Overall Outlook - The overall picture for M/I Homes is considered positive despite mixed fundamentals, with a bullish outlook maintained due to attractive valuations [11]

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher." Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth p ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________________ Commission File Number 1-12434 M/I HOMES, INC. For the Quarterly Period Ended June 30, 2024 Ohio 31-1210837 (Exact name of registrant as specified in it charter) 4131 Worth Avenue, ...

M/I Homes, Inc. (MHO) Q2 2024 Earnings Conference Call July 30, 2024 10:30 AM ET Company Participants Phil Creek - EVP and CFO Bob Schottenstein - President and CEO Derek Klutch - President, Mortgage Company Conference Call Participants Alan Ratner - Zelman & Associates Buck Horne - Raymond James Jay McCanless - Wedbush Securities Alex Barron - Housing Research Center Operator Good morning, ladies and gentlemen, and welcome to the M/I Homes Inc. Second Quarter Earnings Conference Call. At this time, all lin ...

This quarterly report represents an earnings surprise of 11.30%. A quarter ago, it was expected that this homebuilder would post earnings of $3.96 per share when it actually produced earnings of $4.78, delivering a surprise of 20.71%. M/I Homes, which belongs to the Zacks Building Products - Home Builders industry, posted revenues of $1.11 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.96%. This compares to year-ago revenues of $1.01 billion. The company has topped con ...

Exhibit 99.1 M/I Homes Reports 2024 Second Quarter Results Columbus, Ohio (July 30, 2024) - M/I Homes, Inc. (NYSE:MHO) announced results for the three and six months ended June 30, 2024. 2024 Second Quarter Highlights: The Company reported pre-tax income of $194.1 million and net income of $146.7 million ($5.12 per diluted share), both all-time quarterly records. This compares to pre-tax income of $155.4 million and net income of $118.0 million, or $4.12 per diluted share, for the second quarter of 2023. Fo ...

COLUMBUS, Ohio, July 30, 2024 /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) announced results for the three and six months ended June 30, 2024. Robert H. Schottenstein, Chief Executive Officer and President, commented, "We had a very strong second quarter highlighted by all-time quarterly records in income, gross margins and pre-tax margins. For the quarter, revenue increased by 9%, gross margins were 28% compared to 25% a year-ago, pre-tax margins were 17.5% compared to 15.3% a year ago, and pre-tax income im ...

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights. The average prediction of analysts places 'Revenue- Homebuilding revenue' at $1.03 billion. The estimate suggests a change of +4.2% year over year. Analysts' assessment points toward 'New contracts - Total' reaching 2,364. The estimate compares to the yearago value of 2,197. Analysts forecast 'Number of a ...

M/I Homes, Inc. (MHO) is scheduled to report second-quarter 2024 results on Jul 30, 2024, before market open. In the last reported quarter, the company's earnings and revenues topped the Zacks Consensus Estimate by 20.7% and 4.1%, respectively. On a year-over-year basis, earnings and revenues increased 31% and 5%, respectively. This homebuilding company's earnings topped the consensus mark in three of the trailing four quarters and missed on the remaining occasion, the average surprise being 19%. Trend in E ...

Market participants will be closely following the financial results of M/I Homes in its upcoming release. The company plans to announce its earnings on July 30, 2024. The company is predicted to post an EPS of $4.79, indicating a 16.26% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.05 billion, indicating a 3.71% upward movement from the same quarter last year. Our research shows that these estimate changes are directly correl ...