M/I Homes Inc ( (MHO) ) has released its Q4 earnings. Here is a breakdown of the information M/I Homes Inc presented to its investors.
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M/I Homes, Inc. is a prominent homebuilder in the United States, operating primarily in the single-family home sector across various regions including Ohio, Texas, and Florida, with a reputation for delivering quality housing and robust financial performances.
In its latest earnings report, M/I Homes announced record-breaking figures for its fourth quarter and the full year 2024, showcasing a significant upward trajectory in its business operations. The company reported a 19% increase in homes delivered during the fourth quarter, driving revenue up by 24% to $1.2 billion, and achieving a 27% rise in net income to $133.5 million.
Key metrics highlight the company’s growth: new contracts rose by 11% in the quarter, and the full year saw an 8% increase in new contracts, alongside a 12% rise in total homes delivered, culminating in a $4.5 billion revenue. The company also boosted its shareholders’ equity by 17%, reaching a record $2.9 billion, and executed $176 million in stock repurchases throughout the year, reflecting a solid return on equity of 21%.
Concluding the report, M/I Homes’ management expressed confidence in maintaining strong performance into 2025, backed by favorable market conditions and demographic trends, despite a slight decrease in backlog units and sales value. The company is poised to navigate potential challenges while capitalizing on the current undersupply in the housing market.
