M/I Homes reports Q3 EPS $5.10, consensus $4.94

Reports Q3 revenue $1.1B, consensus $1.12B. Robert H. Schottenstein, CEO and President, commented, “We had a very strong Q3, highlighted by record homes delivered, record revenue, and record income. We increased homes delivered by 8% to a record 2,271, increased revenue by 9% to a record $1.1B, increased pre-tax income by 6% to a record $188.7 million and we continued to generate strong returns. Pre-tax income equaled 16.5% of revenue. Our gross margin was strong at 27% and our return on equity was 20%.”